Institutional update - Petroleum Fund

Norway's Nkr 850bn Petroleum Fund has outperformed its benchmark for the sixth consecutive year, producing returns of 12.6%. The fund's average annual return since 1997 has been 3.7%, beating its benchmark by 0.43%. Last year the fund's assets grew by Nkr 236bn, of whichNkr 104bn originated from Norwegian government investments from oil revenues. The balance was created by the performance of equities and bonds and benefits from currency fluctuations.

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