Norway’s sovereign wealth fund gains $44 billion in third quarter

Norway’s $1.16 trillion sovereign wealth fund, the world’s largest, posted a return of 4.3% in the third quarter, equivalent to a gain of 412 billion crowns ($44.31 billion), it said on Thursday.

“The financial markets were still influenced by uncertainty related to the coronavirus. Regardless, equity markets returned well, mostly due to strong performance in the technology sector in (the) U.S.,” fund CEO Nicolai Tangen said in a statement.

The fund invests in some 9,200 companies worldwide, owning 1.5% of all listed stocks. It also invests in bonds and real estate.

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