| The world’s largest sovereign wealth fund gained a record 401 billion kroner ($53 billion) in the first quarter after unprecedented monetary stimulus drove up the value of its equity holdings. The 5.3 percent increase in the first three months of the year was driven by a 7.5 percent rise in its stock portfolio, the $900 billion fund said in Oslo on Wednesday. Its bonds returned 1.6 percent while real estate rose 3.1 percent.
“There were big price movements in the European market,” Yngve Slyngstad, chief executive officer of the fund, said in a statement. “After a weak return on European stocks last year, the market rallied in the first quarter.”..............................................Full Article: Source
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