October 27, 2017 / 9:01 AM / 10 months ago

Norway's wealth fund posts strong Q3, reiterates warning of market volatility

OSLO, Oct 27 (Reuters) - Norway’s $1 trillion sovereign wealth fund, the world’s largest, reported returns of 3.2 percent in the third quarter, beating its benchmark by 0.1 percentage points as equity markets soared, it said on Friday.

“We must be prepared for volatile stock markets, and cannot expect such a return every quarter,” the fund’s Chief Executive Yngve Slyngstad said in a statement, reiterating an earlier warning.

The government withdrew 10 billion crowns during the third quarter to pay for public expenses. By comparison, it had taken out 16 billion crowns in the second quarter. (Reporting by Oslo newsroom)

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