Publications
Partners
Oslo - Norway’s $890bn sovereign wealth fund returned 4% in the third quarter as stocks rallied amid bets sustained central bank stimulus will prop up a global expansion.
The fund’s return was 240bn kroner ($30bn), it said in a statement in Oslo on Friday.
Its stock portfolio rose 6%, its bonds gained 0.9% and its real estate holdings 2.4%.
The Norwegian fund invests globally and largely follows indexes. It has been moving more into emerging markets over the past years to generate higher returns.
It held 60.6% in stocks in the quarter, 36.3% in bonds and 3.1% in properties.
Its mandate is to keep about 60% in stocks, 35% in bonds and 5% in real estate.
The government withdrew 30bn kroner from the fund in the third quarter.
It faces challenges as the government is this year withdrawing money for the first time to cover budget needs.
In its budget released on Thursday, the government revealed plans to withdraw a record amount of 121bn kroner next year.
