OSLO: Norway's $1 trillion sovereign wealth fund, the world's largest, doubled its return on investment in 2017, beating its own benchmark, as strong global stock markets boosted the value of the portfolio, it said on Tuesday.
The fund earned a return of 13.7 per cent in 2017, up from 6.9 percent in 2016.
"The fund's cumulative return since inception has passed 4,000 billion Norwegian crowns ($511.18 billion). One out of four crowns of return was generated in 2017, after a very strong year for the fund," CEO Yngve Slyngstad said in a statement.
"Again, our equity investments returned strongest with a return close to 20 percent."
The fund's biggest single investment was in Apple Inc, worth 66 billion crowns, ahead of Nestle on 51 billion and Royal Dutch Shell on 50 billion.
Apple was also the biggest single contributor to the fund's returns in 2017, ahead of Chinese tech group Tencent Holdings and Microsoft.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.