The Norwegian oil fund rose 1.3 percent in the second quarter, compared with minus 0.6 percent for the first quarter.
The fund, however, write down the value of its UK properties with 5 percent. The reason is the British decision to leave the EU, which created some concern in financial markets.
– After a period of relative calm the markets early in the quarter, led brexit referendum in the UK to a case in Europe. Markets recovered relatively quickly again, but with major sectoral differences. It was among other weak return for finance, says Trond Grande, deputy CEO of Norges Bank Investment Management, which manages the oil fund, in a press release.
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the UK is the fund’s second-largest market, and represents 10.2 percent of the fund’s total assets. Among other things, one is a major owner of köpkvarteren on Regent Street in London.
The equity portfolio rose 0.7 percent, interest-bearing investments 2.5 percent. Real estate investment was down 1.4 percent.
The Norwegian government picked during the second quarter of the 24 billion from the fund.
Oil Fund’s assets stood at 7177 billion NOK on 30 June. The fund was set up in 1990 and is the world’s largest public fund.
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