Sovereign Wealth

Norway's oil fund makes a loss in third quarter

The market value of Norway's sovereign wealth fund fell in the third quarter, hit by the global financial turmoil and appreciation of the krone. However, the value of the fund passed Nkr2 trillion ($369 billion) for the first time in October.

UK business group backs SWF rules

The Confederation of British Industry (CBI), the United Kingdom's largest business association, has said that sovereign wealth funds should be subject to the same code of self regulation that is being proposed for private equity firms.

China's agency "buys" Central Huijin

"We have bought Central Huijin for $67 billion," Lou Jiwei, the chairman of China Investment Corp, the country's investment agency, told reporters on the sidelines of the 17th Communist Party Congress, the nation's key meeting which is held every five…

The rise of SWFs is unstoppable

Western governments must accept the rise of sovereign wealth funds as a further sign of a shift in the world economy, according to Gerard Lyons, the chief economist at Standard Chartered, a bank.

Knut Kjr quits Norway's oil fund

Knut Kjr announced his resignation as head of Norges Bank Investment Management (NBIM), which manages the country's oil-fuelled $330 billion pension fund and the bulk of the central bank's forex reserves.

ECB's Smaghi: better communication on euro needed

"[The] euro area is fully equipped to manage its own currency ... [but] better discipline is required in the preparation of the euro area's position to ensure that a consistent message is sent to its partners," Lorenzo Bini Smaghi, member of the…

Norwegian oil fund up 1.5%

Norway's Government Pension Fund - Global produced a total return on investment of 1.5% during the first quarter of 2007, which the Bank of Norway said was 0.09 percentage points above the benchmark set by the government.

Sovereign wealth funds 'set to grow rapidly'

The first in-depth investigation into Sovereign Wealth Management, published Thursday 29 March, estimates excess reserves currently held by central banks in emerging market economies at between $1.5 trillion and $2 trillion, and suggests that this number…

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