The present invention relates to a water-in-oil emulsion comprising 15-90 wt. % of a fat phase having a solid fat content at 20° C. (N20) of at least 10%; and 10-85 wt. % of aqueous phase, said fat phase comprising: •60-85% by weight of the fat phase of glycerides selected from triglycerides, diglycerides, monoglycerides, phospholipids and combinations thereof, including at least 70% of triglycerides by weight of said glycerides •15-40% by weight of said fat phase of phytosterol esters selected from sterol esters, stanol esters and combinations thereof; wherein ω-3 fatty acids selected from EPA, DHA and combinations thereof represent 4-70% by weight of the fatty acids contained in the emulsion. Despite the high levels of EPA and DHA contained in the emulsion, off-flavor development as a result of oxidation of these ω3-fatty acids is minimized due to the presence of sterol esters.