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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation, Financials, Investment

Norwegian sovereign wealth fund buys into Australian billboards

Posted on 14 November 2016

In a surprising note from the stock market on Friday Norway’s Central Bank popped up with a significant stake in APN Outdoor Group. Norges Bank Investment Management informed the ASX it owns 8.4 million shares in APN Outdoor (APO) or 5 per cent, which is worth about $45.3 million at the current price. Shares in APN Outdoor dropped 2.5 per cent to $5.26 on Friday.
It has been buying the shares on market in recent months, sometimes over one million shares a day. For some perspective, Norges Bank manages about $1.14 trillion of money, which comes from Norway’s oil sales and will be used to “safeguard wealth for future generations”……………………………………Full Article: Source


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