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sovereign wealth fund

World’s biggest sovereign fund makes more money than ever

OSLO: Norway's sovereign wealth fund, the world's biggest, yielded returns of 1.02 trillion kroner (106 billion euros, $131 billion) in 2017, a record sum thanks to soaring global stocks, the Norwegian central bank said Tuesday. At the end of last year, the fund was worth a whopping 8.488 billion kroner (almost 880 billion euros or $1.08 trillion). Tasked with managing the country's oil wealth and intended to finance Norway's generous welfare state when its oil and gas wells runs dry, the fund posted a return of 13.7…