Beverly Chandler, Opalesque London:
Norges Bank Investment Management, manager of the Norwegian government’s global pension fund has published its third quarter report on investment returns.
The Government Pension Fund Global returned 5.0%, or
228 billion kroner,($37bn) in the third quarter of 2013. Equity investments returned 7.6%, while fixed income
investments returned 0.3%. The return on equity and fixed income investments was
0.1 percentage point higher than the return on the fund’s bench
mark, the report said.
Investments in real estate returned 4.1%. The fund had a market value of 4,714 billion ($769bn) kroner at the end of the
quarter and was invested 63.6% in equities, 35.5% in
fixed income and 0.9% in real estate.
The fund did well across Asia with Japanese stocks returning 5.4%, boosted by the country’s
economic stimulus package, which includes purchases of
government bonds and direct investment in the economy, the report says. The Asia-Pacific region returned
4.9% for the fund. A total of 18.0% of the fund’s equity
investments were in this region at the end of the quarter.
Equities in emerging markets returned 2.4%. An
improvement in the Chinese market due to stronger exports was the main reason for the positive return. Emerging markets accounted for 9.6% of the fund’s
equity investments at the end of the quarter.......................
To view our full article Click here