Norway oil fund posts record first-half profit as return hits 9.4%

Norway's sovereign-wealth fund recorded a record first-half profit after Asian technology-stock gains helped its investment portfolio return 9.4%, allowing it to recover from first-quarter market volatility with positive returns in the second quarter. Norges Bank Investment Management said Wednesday the world's largest sovereign-wealth fund, widely known as the oil fund, made 1.753 trillion Norwegian kroner ($184.70 billion) before foreign-exchange effects, compared with 698.47 billion kroner in the same period a year earlier.

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