OSLO (Oct 22): Norway's US$1.8 trillion (RM7.8 trillion) sovereign wealth fund, the world's largest, posted a profit of 835 billion crowns (RM330.8 billion) in the third quarter as falling interest rates lifted stock markets, it said on Tuesday.
The fund's return on investment was 4.4% for the July-September period, 0.1 percentage points weaker than the return on its benchmark index.
"We had a positive return across all our investment areas," deputy CEO Trond Grande said in a statement.
"Falling interest rates led to a broad rise in the stock market," he added.
Equities — accounting for 71.4% of its value in the quarter — recorded a 4.5% return. Fixed-income investments, which account for 26.8% of its assets, meanwhile returned 4.2%.
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