Norway's wealth fund earned $46 billion in Q1 as stocks rose

OSLO: Norway's $1.3 trillion sovereign wealth fund, the world's largest, posted a first-quarter profit on the basis of strong stock markets, it said on Wednesday.

The fund had a 4.0% return on investment, earning 382 billion crowns ($45.7 billion) between January and March, beating its own benchmark index.

"The rise of the equity market was to a great extent driven by the finance and energy sectors," the fund's deputy CEO Trond Grande said in a statement.

While stocks earned a return of 6.6%, the fixed income portfolio had a loss of 3.2% and unlisted real estate had a positive return of 1.4%.

The fund invests the Norwegian state's revenues from oil and gas production into 9,100 companies worldwide, owning 1.4% of all listed shares globally, and also invests in bonds, property and since this month, it has invested in green infrastructure.

The fund's overall value is equivalent to almost $250,000 for every man, woman and child in Norway.

Its investment comprises 73.1% in equities, 2.5% in unlisted real estate and 24.5% in fixed income.