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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Fund Management/Administration

Norway faces more pressure to broaden wealth fund’s scope

Posted on 03 October 2013

Two prominent Norwegian investment funds are throwing their weight behind demands that the newly elected government should push the nation’s $750 billion wealth fund into making investments in renewable energy and other infrastructure projects that could provide safe alternatives to its bond and stock investments.
KLP and Storebrand ASA, with combined assets under management of 780 billion Norwegian kroner ($130.1 billion), have joined several environmental organizations and the Oslo Catholic Church in calling on new Prime Minister Erna Solberg to make the changes to the fund’s structure. Currently, the sovereign-wealth fund—formally called The Government Pension Fund Global—has 35.7% of its money in fixed-income investments, 63.4% in equities and less than 1% in real estate………………………………………..Full Article: Source


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