Norway's global state pension fund registered the largest quarterly asset increase in its history in the three months to the end of September, and awarded seven new mandates to external managers.

The value of the fund increased 14% by Nkr207bn (€25.1bn) in the third quarter to hit Nkr1.7 trillion. It is now the largest pension fund in Europe and has grown by Nkr431bn in the last 12 months.