Norway’s oil fund boosted by market rally and weak krone

Yngve Slyngstad, chief executive, Norges Bank Investment Management

Norway's sovereign wealth fund (SWF) made strong returns in the first quarter of 2015, as the fund benefited from strong global equity markets and a falling krone.

Norges Bank Investment Management's (NBIM) first quarter report, published today (April 29) said the fund had broken a new record for quarterly returns in krone terms – 401 billion ($53bn), or 5.3%.

"There were big price movements in the European market. After a weak return on European stocks last year, the market rallied in the first

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