From July to September, the fund recorded returns of 4.4 percent, raising its total value to 18.9 trillion kroner ($1.73 trillion) at the end of the quarter, according to a statement.
“We had positive returns in all our investment areas. The decline in interest rates led to a broad rise in the stock market,” said the fund’s executive vice president, Trond Grande.
The fund’s stock portfolio, which constitutes 71.4 percent of its assets, recorded returns of 4.5 percent during the quarter.
The fund is the largest investor in the world, as it has shares in about 9,000 companies in 71 countries around the world and represents 1.5 percent of the total market value.
Meanwhile, his investments in bonds, which represent 26.8 percent of assets, rose by 4.2 percent.
Real estate holdings, which represent 1.7 percent, increased by 0.8 percent.
Its investments in renewable energy projects that are not listed on the market, which represent a very small share of assets, increased by 10.8 percent.
The value of the fund, which fluctuates based on currency rates and funds withdrawn and deposited by the government, has continued to grow since the end of the third quarter.
Its value now exceeds 19.3 billion kroner ($1.77 billion), according to the fund’s website.
The fund, which was established in the early 1990s, aims to finance future spending in the country known for its generous social welfare system, at a time when export revenues are expected to decline. Oil and gas in the long term.
