The return on the fund’s equity investments was -0.1 percent. Investments in unlisted real estate returned 3.6 percent, whereas investments in fixed income returned 0.1 percent. The fund’s return was 0.25 percentage points higher than the return on the benchmark index.
”The equity market continued to strengthen towards August, before dipping slightly in the second half of the quarter. However, the fund has achieved somewhat higher returns than the market, particularly in our equity investments”, says Deputy CEO at Norges Bank Investment Management Trond Grande.
The krone depreciated somewhat against several of the main currencies during the quarter. The currency movements contributed to an increase in the fund’s value of 22 billion kroner. In the third quarter, 52 billion kroner was withdrawn from the fund.
The fund had a value of 11,674 billion kroner as at 30 September 2021. 71.5 percent of the fund was invested in equities, 25.9 percent in fixed income, 2.5 percent in unlisted real estate and 0,1 percent in unlisted renewable energy infrastructure.
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