Norway’s sovereign wealth fund, the world’s biggest, returned 1.3% on its investments in the second quarter, helped by fixed-income growth as negative returns on European stocks put a lid on equity gains after the UK vote to leave the European Union.

Norges Bank Investment Management, the arm of the central bank that manages Norway's so-called oil fund, said Wednesday that the quarterly return equated to 94 billion Norwegian kroner ($11.46 billion). The total value of the fund at June 30 was 7.177 trillion kroner.