Fri, Nov 28, 2014
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. Unlucky Paulson & Co. rebrands $1.6bn Recovery Fund after 13% drop[more]

    From Businessweek.com: A maturing U.S. economic recovery is prompting Paulson & Co. to change course. The $19 billion hedge fund firm, led by billionaire John Paulson, told investors on a conference call this month that the Paulson Recovery Fund will be renamed Paulson Special Situations Fund on Jan

  2. Opalesque Roundtable: Islamic Finance races ahead with Sukuk, the first managed account platform, and foreign demand[more]

    Komfie Manalo, Opalesque Asia: A number of developments took place within Islamic finance in the past years, including the launch of a Islamic managed account platform and the further growth of the sukuk space that saw this instrument evolve from being a type of an ABS security that was rarely

  3. CTAs , event-driven strategies lead hedge funds recovery in mid-November[more]

    Komfie Manalo, Opalesque Asia: November’s performance proves to be in sharp contrast to the previous month, with equities further consolidating their upswing last week, according to the latest Lyxor Asset Management’s Weekly Brief. CTA funds als

  4. Fund Profile - A complex hedge fund strategy works for United Technologies[more]

    From Institutionalinvestor.com: Reports that portable alpha is dead have been greatly exaggerated, as Mark Twain might have phrased it. Another Connecticut Yankee, giant United Technologies Corp., is gearing up to grow its successful, nearly decade-long portable-alpha program. The UTC strategy took

  5. Opalesque Exclusive: The unintended consequences of Basel III[more]

    Benedicte Gravrand, Opalesque Geneva: Bijesh Amin, co-founder and managing director of Indus Valley Partners (IVP), a technology solutions and services firm focused on the alternative asset management industry, has recently observed