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Sovereign Wealth Funds Briefing - Categorized | Investment

Norway punts big on W. Australia

Posted on 14 March 2013

The world’s biggest sovereign wealth fund last year bulked up on a welter of WA companies, including Atlas Iron and Gryphon Minerals, as it cut back in Europe in favour of more attractive investment destinations. With more than 4 trillion kroner ($679 billion) of assets, Norway’s Government Pension Fund Global is represented in every corner of the world, including Australia where it doubled its holdings of equities and bonds last year.
The fund’s latest update shows it held 261 Australian-listed stocks worth 53.3 billion kroner at the end of December.The WA-held stocks included Ausdrill, Navitas, Seven West Media, Fleetwood, NRW and Aspen, with most of the holdings below the one per cent mark…………………………………Full Article: Source


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