Norges Bank Investment Management (NBIM)
People: Peru’s Velarde bags BIS job; Belsham gets second term on BoE committee
People: Peruvian governor succeeds Poloz as Council for the America’s chair; David Belsham gets second term at Prudential Regulation Committee; and more
Norway’s sovereign fund acquires its first Asian real estate
Norges Bank recommended in November the fund should abandon equity investments in oil and natural gas
Norges Bank advises removal of oil and gas stock from government fund
Norway’s SWF held $36.5 billion in equities in the sector at the end of September 2017
Norges Bank says it is still capable of managing wealth fund
Central Bank Law Commission recommends creating a new entity to manage the Government Pension Fund Global
ECB taper unlikely to upset major European equity investors
Norway’s sovereign wealth fund is boosted by its €200 billion investment in European stocks
Norway’s pension fund grows on rising equities
The world’s largest sovereign wealth fund grows, thanks to European equities, but low rates and oil prices remain long-term challenges
Norwegian commission calls for reform of Norges Bank
Mandate, board and legislation should all be changed, says former governor Svein Gjedrem
Norway’s oil fund delivers strong returns in 2016
Fund enjoys nearly 7% growth, with strong equity performance leading the way; strategy envisages work to improve efficiency and overhaul investment platform
Norway’s Olsen warns of dangers of dipping too deeply into oil fund
Norges Bank governor says risk of a sharp decline in the fund’s value becomes much greater if the government increases its oil revenue spending
People: vice-governor appointed at PBoC; Bank of Canada creates new comms role
China’s State Council appoints Harvard graduate to replace Guo Qingping; Jill Vardy becomes adviser to Stephen Poloz; and more
Norges Bank recommends higher equity share for oil fund
Declining global growth and lower volatility suggest a larger equity share is both desirable and manageable, central bank says
Book notes: On central banking, by Jan Qvigstad
Qvigstad’s collection of lectures captures not just the culture of Norwegian central banking, but also an intellectual history of which the country can be proud
NBIM’s Q2 returns hit by Brexit turbulence
Second-quarter returns of 1.3% held back by European equities and UK in particular; real estate investments register second negative quarter
Norway’s NBIM drops first batch of coal investments
Fund excludes 52 coal-related companies from portfolio in first “tranche”, with more planned; measuring exactly which firms fall within boundary proves tricky
Norway’s Olsen plans to seek reappointment
Norges Bank governor says he plans to seek a second term, as government launches public application process for position
Norges Bank organisational changes geared towards better investment
Revamp of organisational structure is mainly focused on improving the governance of the sovereign wealth fund, which delivered a return of 2.7% despite turbulence last year, annual report reveals
NBIM reports clarify demands for high ethical standards
Norwegian SWF expects firms it invests in to address a broad range of long-term risks, including the need to meet high ethical standards; publishes expectations document on human rights
‘Decarbonisation’ could allow investors to hedge climate risks, economists say
Economists claim low-carbon index can deliver similar performance to benchmark indexes while hedging the uncertain timing of climate change policy-making
People: NBIM names real estate CEO; Gerlach moves to private sector
Norges Bank Real Estate Management gets CEO; Stefan Gerlach takes up new role at Swiss private bank BSI; and more
Norges Bank shuffles organisation of support functions
Norges Bank looks to strengthen support structure through creation of central secretariat, which will be headed by Birger Vikøren
Norges Bank gets second deputy governor for first time
Norges Bank announces appointment of academic to newly-created deputy governor position, while NBIM names new chief compliance and control officer
NBIM records Q3 loss amid stock market volatility
Norges Bank Investment Management posts uncomfortable loss in third quarter, driven by sharp drop in its equity investments, but fund’s chief executive stresses long-term focus
Norges Bank to supervise $1bn-plus SWF property deals
Central bank executive board will supervise real estate investments above $1bn made by sovereign wealth managers; separate committee formed for investments over $250m
Norway dips into oil fund for first time
Stimulus programme and low oil prices combine to push government deficit above oil revenues; NBIM opens regional office in Tokyo