Norges Bank Investment Management (NBIM), which manages Norway’s $1.6 trillion sovereign wealth fund, reported a 5.8% return for the third quarter, equivalent to a profit of 1.03 trillion Norwegian crowns ($102.56 billion).
Deputy CEO Trond Grande attributed the strong result to “robust returns in equities, particularly in basic materials, telecommunications, and the financial sector.”
The fund’s asset allocation stood at 71.2% in global equities, 26.6% in fixed income, 1.8% in unlisted real estate, and 0.4% in renewable energy infrastructure. Its return was only 0.06 percentage point below its benchmark index — reflecting disciplined, broad-based portfolio management.