Sovereign wealth fund (SWF)
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
IMF issues advice on Botswana’s sovereign fund
Rules should govern withdrawals from government’s account, IMF says
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
Asset manager of the year: State Street Global Advisors
Boston-based asset manager not only has depth and reach – it has taken customisable services to a new level
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
Australia’s Future Fund doubles its money
Sovereign wealth fund is now twice the size of its initial endowment, driven in part by alternative investments and private equity; warns future returns likely to be lower
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
Singapore’s GIC warns of lower returns in coming years
High valuation of asset prices and modest growth outlook points to lower returns in coming decade or two, GIC says; 20-year annualised real rate of return fell last fiscal year
SNB officials fend off latest ideas for reform
Thomas Jordan and Jean Studer warn of the damage that could be done by proposals including sovereign money, broader mandate and using reserves to create sovereign wealth fund
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 pension fund may be close to peak, Olsen says
Norges Bank governor says Norway should not count on being able to build its sovereign wealth fund much further, and must brace for a difficult period of rebalancing after the oil boom
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
Negative commodity price shocks weaken EM financial sectors, IMF paper argues
The financial sectors of resource-rich emerging economies are vulnerable to negative commodity price shocks, working paper argues; better policy can increase resilience
Future Fund shifts from equities to cash and achieves above-target return in 2015
Australia’s sovereign wealth fund, the Future Fund, shifted from equities to cash to reduce its risk exposure, senior management say; yearly returns were above target
South Korea’s new SWF chief sets sights on ‘top ten’
Former World Bank executive director takes office as CEO of the Korea Investment Corporation; sets out desire to grow assets under management beyond $200 billion
Sovereign investor of the year: Future Fund
Australia’s sovereign wealth fund took the restrained decision not to increase its risks to chase returns in 2015. Instead it focussed on improving its operational framework
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
Australian SWF heads see returns dipping as central banks normalise policy
The chair of the Australian Government Future Fund says easy monetary policy ‘cannot be sustained indefinitely’ and returns are likely to drop in coming years
Norway’s oil fund suffers loss in second quarter
Losses of about $9 billion were largely driven by the fixed-income portfolio, although equities delivered a weak performance; NBIM takes a more activist stance
NBIM report urges stock exchanges to prepare for next phase of development
Technological and regulatory changes have led to faster, more fragmented markets, and stock exchanges need to adapt if they are to keep up; latency race to zero is a ‘dead end’, says fund
Azerbaijan SWF looks to Chinese equities after foray into renminbi
The State Oil Fund of the Republic of Azerbaijan is ‘planning to gain exposure to Chinese equity markets’ after successfully investing in yuan-denominated instruments
New Zealand SWF hires BMO to aid ethical push
The NZ Super Fund appoints BMO Global Asset Management to help 'global engagement programme' aimed at improving standards at the companies it owns
Central banks have 'track record' to manage new African SWFs, says World Bank expert
Ekaterina Gratcheva argued at a forum in Basel this weekend that central banks' institutional history makes them suitable managers for sovereign wealth funds