Norway's Wealth Fund Surges Amid Stock Market Gains

Norway's massive sovereign wealth fund, valued at $1.8 trillion, reported a profit of 835 billion crowns for the third quarter, driven by rising stock markets due to falling interest rates. The fund achieved a 4.4% return on investment, with equities making up most of its value.

Norway's sovereign wealth fund, the largest in the world, valued at $1.8 trillion, reported a substantial profit of 835 billion crowns for the third quarter. Officials attributed the gains to falling interest rates, which, in turn, boosted stock markets.

The fund recorded a 4.4% return on investment during the July-September period, marginally trailing its benchmark index by 0.1 percentage points. Equities, constituting 71.4% of the fund's value for the quarter, experienced a 4.5% return.

Deputy CEO Trond Grande emphasized the positive performance across all investment sectors, noting the significant role of falling interest rates. Meanwhile, fixed-income investments, representing nearly 27% of the fund's assets, returned 4.2%.

(With inputs from agencies.)