05.11.2012 - Norway wealth fund gains, shifts from Europe
Norway's sovereign-wealth fund, the world's largest, returned to growth in the third quarter, boosted by a global equity markets rally as it reduced its holdings of European bonds in keeping with a long-term strategy to diversity assets. Norges Bank Investment Management, a division of the Nordic country's central bank, said on Friday the government pension fund rose to a value of 3.723 trillion Norwegian kroner ($653 billion), after realizing a return of 167 billion kroner, or 4.7%, in the three months through September. Holdings of stocks—including German chemical producer BASF SE, and U.S. technology companies Apple Inc. and Google Inc.--grew 6.5% in overall value. Fixed-income investments added 2.2%...............................................Full Article: Source
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