Tue, May 3, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Norway pension fund returns 4.7% in Q3, Apple best performer

Monday, November 19, 2012

amb
Yngve Slyngstad
Benedicte Gravrand, Opalesque Geneva: - Norway’s Government Pension Fund Global returned 4.7%, or NOK167bn (Eur22.6bn; US$28.9bn) in the third quarter (Q3) of 2012 as global stock markets rallied. The fund returned 14.5% in the last 12 months and 6.5% in the last three years.

According to a fund’s Q3 report published by Norges Bank Investment Management (NBIM) earlier this month, returns contributions came from equity investments (6.5%) and fixed-income investments (2.2%). Investments in real estate gained 2.7%. The overall return was 0.03 percentage point lower than the return on the fund’s benchmark indices.

"The result was largely driven by a rally in global stock markets," said Yngve Slyngstad, CEO of NBIM , which manages the fund. "Stocks gained the most in Europe, where the fund has about half of its shareholdings."

Apple was the fund’s best-performing stock investment that quarter, followed by Google and German chemical company BASF, according to the quarterly report. The worst-performing stock was US semiconductor manufacturer Intel, followed by UK mining company Anglo American and BG Group, a British natural-gas producer.

The fund reduced its holdings of French and Spanish government debt during Q3. It boosted its investments in US and Japanese government bonds and......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n