Norway $2.2 Trillion Fund Gains on Tech, Gold, Silver Rally

Norway’s $2.2 trillion sovereign wealth fund reported its best return in two years, largely thanks to gains in technology and financial companies as well as a rally in gold and silver that buoyed basic materials firms.

Norges Bank Investment Management saw investments rise by 15.1% last year, driven by a 19.3% gain in equities with other asset classes also growing, it said in a statement on Thursday. Still, NBIM missed the benchmark it measures itself against by 28 basis points last year, a third consecutive year of underperformance.