OSLO Oct 7 Norway's $882-billion sovereign
wealth fund, the world's biggest, returned a profit in the third
quarter due to strong stock markets, it said on Friday.
The fund earned a return of 4.0 percent in the quarter, or
240 billion Norwegian crowns ($29.66 billion), beating its
benchmark by 0.2 percentage point. In the second quarter the
fund booked a profit of 1.3 percent.
The government withdrew 30 billion Norwegian crowns during
the quarter to pay for public expenses at a time of declining
oil and gas revenues, against 24 billion crowns in the second
The fund cut its share of fixed income investments in the
third quarter to 36.3 percent of its portfolio from 37.4 percent
three months earlier while equity investments rose to 60.6
percent from 59.6 percent.
Real estate holdings were maintained at 3.1 percent.
($1 = 8.0922 Norwegian crowns)
(Reporting by Camilla Knudsen, editing by Gwladys Fouche)