Oil, iPhones, and Trump: How Norway's huge sovereign wealth fund made a $53 billion return — Quartz:
"After a rocky start to 2016, Norway’s $900 billion sovereign wealth fund announced today that it made a return of almost 7% last year (pdf), more than doubling its result the previous year. The unlikely source of this $53 billion windfall? US president Donald Trump. American stocks have been on a tear since Trump was elected, as investors predict tax cuts, deregulation, and other business-friendly policies will boost corporate profits. Just under a quarter of the Norwegian fund’s assets are invested in US stocks.
Last year started off badly for the world’s largest sovereign fund, with global stocks falling by 10% in the first few weeks of 2016. Norway’s government also made its first withdrawal from the fund after 20 years as falling oil prices cut into Norway’s commodity-driven economy."
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