European equities were the strongest performers for Norway’s Nkr4.7 trillion oil fund during the third quarter, returning 11.6% and contributing to strong performance across the fund’s equity portfolio.

The Government Pension Fund Global, managed by Norges Bank Investment Management, is charged with investing the country's petroleum revenue. The fund as a whole reported a 5% return in the third quarter and the market value rose from Nkr4.4 trillion ($745 billion) at the end of the second quarter, according to its third quarter performance report published today. Inflows totalled Nkr58 billion during the period.