Fri, Sep 4, 2015
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. Opalesque Exclusive: New Detroit-based CTA seeks to take advantage of coming volatility[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: An emerging manager has just set up his one-man shop in the city of Detroit. Synchronicity Futures,

  2. Cliff Asness attracts $360 million as liquid alternative funds hold up[more]

    From Bloomberg.com: As U.S. stocks suffered their worst month in more than three years in August, Clifford Asness’s managed futures fund was able to profit. Investors are taking notice. The $9.12 billion AQR Managed Futures Strategy Fund pulled in an estimated $360 million in net subscriptions last

  3. Opalesque Exclusive: When the SEC calls, fund managers need to get out of their own way[more]

    Bailey McCann, Opalesque New York: New pressure is hitting alternative investment funds from all angles. So far this month both hedge fund and private equity players have seen enforcement actions, and subsequent fines over fees, disclosures, and misleading statements. Citi one of the biggest

  4. Performance - Einhorn and Loeb's hedge funds both decline 5% in August, Some target-date funds miss in the market turmoil[more]

    Einhorn and Loeb's hedge funds both decline 5% in August From Reuters.com: Hedge fund billionaires David Einhorn and Daniel Loeb saw their main funds lose roughly 5 percent in August during a dramatic market sell off, two people familiar with their returns said on Monday. Einhorn's

  5. Fortress hedge fund manager David Dredge says markets trouble on the way[more]

    From AFR.com: David Dredge of global hedge fund Fortress has built a career studying, predicting and protecting against the world's major financial crises. The recent convulsions in global sharemarkets are "just the beginning" of a painful adjustment as money drains from the emerging market economie

 

banner