Norway's Wealth Fund Achieves Q3 Success with Strong Global Equity Investments

Norway's sovereign wealth fund reported a remarkable 5.8% return in the third quarter, translating to a profit of 1.03 trillion Norwegian crowns. The fund's earnings were bolstered by strong returns in global equities, with substantial investments in the stock, fixed income, and unlisted sectors.

Norway's sovereign wealth fund achieved a notable 5.8% return on investment during the third quarter, amounting to a substantial profit of 1.03 trillion Norwegian crowns, as announced on Wednesday.

Deputy CEO of Norges Bank Investment Management, Trond Grande, attributed these results to robust performances in the stock market, particularly within basic materials, telecommunications, and the financial sector. It was noted that the return fell slightly short, by 0.06 percentage points, compared to the benchmark index.

The fund's diversified portfolio included 71.2% in global equities, 26.6% in fixed income, 1.8% in unlisted real estate, and 0.4% in unlisted renewable energy infrastructure, reflecting a broad investment strategy. The exchange rate was cited at $1 equaling 10.0431 Norwegian crowns.

(With inputs from agencies.)