Sovereign Wealth
Norway oil fund sets sights on more real estate
The Government Pension Fund Global saw 16% return in 2013, driven by equities gaining 26.3% while fixed income didn't budge; real estate is a growth area
Reassessing the sovereign investor nexus
As sovereign assets continue to grow, managers look set to adopt multi-asset investment approaches that are more closely associated with defined-contribution pension plans
Norwegian governor backs SWF rotation into higher-yielding equities and real estate
Øystein Olsen says it is ‘natural' for the country's pension fund to invest in different types of real assets; talks up the possibility of an above-average market return
Sovereign wealth fund could help fiscal discipline in Algeria, says IMF
Fund suggests setting up a SWF and implementing a ‘full-fledged' fiscal rule to help manage volatile hydrocarbon revenues and curb inflationary pressures
Norges Bank should make ethical investment decisions for SWF, say government advisers
Report sets out ways for pension fund to boost influence over responsible investments, aiming to increase long-run returns; recommends concentrating decision-making power at Norges Bank
People: Stanley Fischer joins US think-tank; Hungarian central bank official moves to EIB
Fischer takes post at US think-tank after leaving the Bank of Israel; László Baranyay joins the European Investment Bank; sovereign wealth fund managers on the move
Norwegian SWF far too exposed to OECD nations, report finds
NCA/Re-Define report calls for 20% of Norway's GPF foreign assets to be allocated to development finance, as Peterson Institute again gives fund top marks for transparency and accountability
Zoellick joins Temasek board under new chairman Lim Boon Heng
Singaporean sovereign fund appoints new chairman to take over from long-serving Dhanabalan; American political heavyweight joins as Temasek looks to establish a presence in the US
Norges Bank governor outlines Norwegian model for stability
Øystein Olsen tells Harvard audience of Norway's fiscal rule and inflation-targeting - but warns the system has yet to be seriously tested
Norway’s SWF sees large returns after ‘major strategic changes’
Annual report for 2012 reveals pension fund saw second-best performance since its creation; investments diversified away from Europe and into emerging markets
Booknotes: The New Economics of Sovereign Wealth Funds
This book is a brave and welcome contribution to the analysis of sovereign wealth funds.
Norway’s SWF buys US property for first time
East coast offices the latest purchase in pension fund’s real estate expansion; also reflects diversification away from European holdings
National Bank of Kazakhstan’s SWF seeks new fund managers
Central bank issues tenders for two managers to oversee portfolios worth $50-150 million each
SWFs should take lead in demanding higher investing standards
Large long-term investors such as sovereign wealth funds should be spearheading efforts to hold investors to account over short-termism, according to finance experts at the LSE
Norway’s SWF eyes shift from European equities
Fund will maintain high equity share but diversify investments away from Europe; buys $1.1 billion of Swiss real estate from Credit Suisse
Norway’s SWF adds further $560m of property to portfolio
Government Pension Fund Global continues progress towards 5% of fund invested in real estate with purchase of 50% stake in UK’s Meadowhall shopping centre
Chile director presents results of fund management outsourcing
Divisional director at the Central Bank of Chile discusses changes to the management of pension reserve fund; responsibility given to external managers for first time
BoJ unveils international investment position in 2011
Japanese central bank research paper shows a rise in country’s net assets; both external financial assets and external liabilities increase
Norway’s pension fund loses $13 billion in second quarter
Continuing problems in the euro area and fears about global economy weigh heavily on the performance of Norway’s sovereign wealth fund, which has switched investment to equities and emerging currencies
Norway’s SWF adds $340m of property to portfolio
Norwegian sovereign wealth fund buys stakes in French property worth $340 million; aims to expand real estate investments into other European markets
IMF paper studies emerging market debt restructuring
Policy paper reviews causes and consequences of emerging market sovereign debt restructurings; identifies certain elements that can make process less painful
SNB’s Jordan rules out sovereign wealth fund creation
Thomas Jordan reaffirms commitment to currency peg; blasts idea of establishing a sovereign wealth fund with the SNB’s foreign currency holdings
IMF paper assesses effect of transparency on credit ratings
Working paper studies relationship between fiscal transparency and sovereign credit ratings; finds that greater clarity improves a country’s rating
New Bank of Spain governor named
Miguel Angel Fernandez Ordoñez’s successor is chosen; will assume the top role at the central bank on June 11