Norway's state pension fund saw a global return of 1.6%, or 236 billion kroner ($25 billion), in the third quarter of 2019, according to fund manger, Norges Bank Investment Management (NBIM) on Wednesday.
According to NBIM, equity investments returned 1.3%, unlisted real estate 1.6%, and fixed-income investments 2.4%.
The overall return on the fund was in line with the return on the benchmark index, the company said.
"Equity and fixed income investments had another quarter with positive returns," said Yngve Slyngstad, CEO of NBIM. "We saw a particularly positive contribution from the U.S. Treasuries and North American stocks, which returned 4.6 and 2.9% respectively."
The krone depreciated against several of the main currencies during the quarter. Currency movements increased the value of the fund by 349 billion kroner. Outflows from the fund amounted to 5 billion kroner in the third quarter.
The fund had a market value of 9,742 billion kroner on Sept. 30, 2019 and invested 69.1% in equities, 2.8% in unlisted real estate and 28.2% in fixed income.
By Murat Temizer