The Oslo-based fund had an overall return of 4 percent, 24 basis points more than the benchmark set by the country's finance ministry, it said in a statement on Wednesday.
Equity investments gained 6.6 percent, fixed-income fell 3.2 percent while unlisted real estate returned 1.4 percent.
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95 percent of active global high-yield managers struggle to consistently add value net of fees, according to the world's fourth-largest asset manager ahead of launching a global HY index fund. However, a recent survey by consultancy Kirstein showed a vast majority of Nordic investors preferring their HY portfolios actively managed.