| Norway's sovereign-wealth fund, the world's largest, has become even larger in the third quarter. The fund's growth was spurred largely by a global equity markets rally as it also lowered its holdings of European bonds. "The result was largely driven by a rally in global stock markets," said Yngve Slyngstad, chief executive officer of Norges Bank Investment Management (NBIM), which manages the fund. "Stocks gained the most in Europe, where the fund has about half of its shareholdings."
According to a statement by the fund, equity investments--including allocations to German chemical producer BASF SE and US technology companies Apple Inc. and Google Inc.--returned 6.5% and fixed-income investments returned 2.2%. Investments in real estate returned 2.7%...............................................Full Article: Source
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