World's no. 1 wealth fund, based in Oslo, makes $110 bn as stocks soar

Norway’s $1.4 trillion sovereign wealth fund, the world’s biggest, generated a 9.4% return in the first half of the year after its investments in energy, finance and technology companies helped drive double-digit gains in its stock portfolio.

The Oslo-based fund returned almost 14% on stocks, with energy investments up nearly 20%, it said on Wednesday. Investments in bonds and renewable energy infrastructure slipped, while real-estate holdings added 4.6%. Overall, its total return was marginally higher than that of the benchmark against which it measures itself.

Chief Executive Officer Nicolai Tangen, a former hedge-fund manager who’s been running Norway’s giant sovereign investment vehicle