News/Sovereign Wealth
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
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
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
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
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
Norway set to shift investment strategy after poor SWF performance
Norway sovereign wealth fund to focus on emerging markets following third-worst performance in history last year
Nigeria needs more reserves and better inflation controls, says Fitch
Nigeria will need to further increase the size of its foreign exchange reserves and keep inflation in closer check if it wants to secure investment-grade status by 2020, says Fitch
Norway SWF manager surveys companies’ social and environmental risks
Norges Bank Investment Management assesses the social and environmental reporting levels of companies the sovereign wealth fund has invested in or is considering investing in
Denmark releases annual report and appoints new directors
National Bank of Denmark annual report covers decision to relocate Royal Danish Mint and reveals profit fell last year; Jørgen Strandgaard and Kjeld Johannesen chosen as new directors
Canada cracks down on Syrian central bank
Canada imposes asset freeze on Central Bank of Syria; foreign affairs minister reiterates demand that president Assad step down
EFSF gets go-ahead for collateral enhancement facility
Plan to restore worth to Greek bonds as collateral is authorised; two days after the European Central Bank was forced to stop accepting Greek bonds following downgrade
Buba’s Weidmann defends German role in eurozone rescues
President of the Deutsche Bundesbank says criticising German authorities for their action, or lack of it, in helping struggling eurozone counterparts is “quite inappropriate”
Oil reserves eclipse Norway SWF assets
Norway budget confirms sovereign wealth fund assets still smaller than oil left in seabed
ECB’s Noyer says larger EFSF ‘unrealistic’
ECB governing council member says EFSF will not be made bigger; is open to schemes that would offer greater leveraging opportunities for money already committed
Fears over Libyan central bank money realised: reports
Multi-vehicle convoy arrives in Niger carrying central bank cash and gold
Thailand's finance minister supports SWF plan
Thai finance minister Thirachai Phuvanatnaranubala urges central bank to consider establishment of sovereign wealth fund to manage foreign currency exposure
Norway’s SWF hit by equity slump
Norwegian Government Pension Fund Global reports small gain as fixed-income investments make up for decline in equity portfolio