Norway’s wealth fund smashes profit record

nbim-chief-yngve-slyngstad

Norway's sovereign wealth fund posted its highest-ever profit in 2009, beating the benchmark portfolio against which it is judged by 4.1 percentage points it said on Friday.

After six consecutive quarters of straight losses, the Government Pension Fund-Global, which is run by Norges Bank Investment Management (NBIM) - a wing of the central bank, saw two quarters of record profit growth to the end of 2009, returning 25.6%, or NKr613 billion ($104 billion) for last year overall.

Yngve Slyngstad, N

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