Sovereign Wealth
Norwegian SWF plans $27bn expansion into real estate
New focus on real estate investments part of Norway's sovereign wealth fund strategy through 2016, which will see it hire 230 more staff and employ more external managers
Expanding SWF forum to fly IMF nest and land in London next month
International Forum of Sovereign Wealth Funds welcomes new members ahead of relocation from the IMF's headquarters to its own premises in London in July
Australian sovereign wealth fund appoints new head
Chief investment officer David Neal picked to head up the management company behind Australia's $90 billion Future Fund
Norges Bank poised to complete shift from FX buyer to seller before year's end
The Norwegian central bank sends strong signal it will make no foreign exchange purchases this year; analysts predict bank will make ‘symbolic shift' to net-seller in Q4
Bank of Tanzania praised for ‘skilfully’ lowering inflation
The IMF praises Tanzania authorities for generating ‘rapid’ growth while clamping down on inflation and encouraging development of sovereign wealth fund
Finance and the Holy See: creating a central bank
The Vatican is setting up a ‘central bank’ as part of an overhaul of its finances. Isabella Bufacchi and Carlo Marroni examine the options available to the the Holy See.
Cyprus finance ministry to publish SWF framework this year
Cypriot finance minister Harris Georgiades says he will finalise plans for a sovereign wealth fund this year, but monetising the country’s gas deposits remains a distant prospect
Norway SWF axes JP Morgan as global custodian
Citi has secured custody responsibility for Norway's Government Pension Fund Global's $850 billion global equities portfolio
Iran takes transparency lesson from Azerbaijan's SWF
Iran's sovereign wealth fund managers travelled to Azerbaijan to discuss improving fund transparency and international co-operation
Fixed income drives Q1 returns for Norway SWF
Norway's huge sovereign wealth fund earned a 1.7% return in the first quarter of this year, with all asset classes solid if unspectacular
Central banks and SWFs must upskill to face new investment challenges
Study commissioned by State Street finds central banks, sovereign wealth funds and public pension funds preparing for a broader investment universe
Norway hands SWF ethical investment responsibilities to central bank
Finance ministry disbands external ethical investment committee, putting responsibility for decisions with Norges Bank Investment Management
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