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Sovereign Wealth Funds Briefing 13.Aug 2012

Posted on 13 August 2012 by VRS |  Email |Print

Yngve SlyngstadNorway’s sovereign wealth fund is considering the impact on its investment strategy of negative yields for German, Danish and Swiss two-year bonds, Yngve Slyngstad, head of Norges Bank Investment Management, told the Financial Times.
“We are spending a lot of time thinking about what this is indicating,” Slyngstad said. “We have to ask the obvious question of why investors are paying for lending money and are not just keeping it in cash.”……………………………………….Full Article: Source

Posted on 13 August 2012 by VRS |  Email |Print

Norway’s $600 billion sovereign wealth fund cut its exposure to the struggling euro zone further in the second quarter and aims to pick up more emerging market assets, particularly bonds, in the months ahead, it said. Seeking a balanced approach to risk in an uncertain economic environment, it also said it would continue to invest in top-rated sovereign debt yielding negative interest rates rather than hold excessive amounts of cash.
The fund, one of the world’s biggest investors, has been gradually pulling out of euro zone assets, especially those on the bloc’s periphery, and aims to cut Europe’s weight in its portfolio permanently as the region’s recovery continues to stall. “A larger portion will be invested in emerging markets, particularly in fixed income,” Yngve Slyngstad, the fund’s chief executive,said………………………………………..Full Article: Source

Posted on 13 August 2012 by VRS |  Email |Print

Norway’s sovereign wealth fund, Europe’s largest stock investor, lost 77 billion kroner ($13 billion) in the second quarter as stocks slumped on concern the region’s deepening debt crisis would derail the global economy.
The $620 billion Government Pension Fund Global fell 2.2 percent, as measured by a basket of currencies, the Oslo-based investor said today. Its equity investments fell 4.6 percent, while its bonds returned 1.5 percent………………………………………..Full Article: Source

Posted on 13 August 2012 by VRS |  Email |Print

Norway’s Government Pension Fund Global, the second-largest sovereign wealth fund in the world, has blamed global stock markets for a negative return over the second quarter, as it pursues a strategy to reduce its holding of bonds in developed European nations.
The fund returned -2.2% over the second quarter, according to a report by its investment manager, Norges Bank Investment Management. The bank said that the Nkr3.6 trillion (£390bn) fund returned -Nkr77bn in the three months to the end of June………………………………………..Full Article: Source

Posted on 13 August 2012 by VRS |  Email |Print

The largest sovereign wealth fund in Europe may be poised to take a majority stake in one of the United Kingdom’s biggest shopping malls, after snapping up iconic retail space in the nation’s capital. The Norway Pension Fund - Global has agreed to purchase a 75% stake in Meadowhall, a 22 year-old development near Sheffield in the North of England, according to Reuters, who quoted sources close to the deal.
The $601 billion fund spent $45 million on a section of Regent Street last year, one of the most high profile shopping areas in London. It also bought French retail buildings this year. The stake in the latest target could be worth up to £1.1 billion, the newswire reported………………………………………..Full Article: Source

Posted on 13 August 2012 by VRS |  Email |Print

Sovereign wealth funds are increasingly interested in buying China’s domestic bonds to get a bigger foot in the world’s second largest economy, benefit from good yields and diversify their exposure to more currencies.
Despite concerns over China’s slowing growth, the giant industry, which manages countries’ windfall revenues for future generations, is taking advantage of the gradual opening up to foreign investors of its mainland bond market worth over $3 trillion………………………………………..Full Article: Source

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