ALMOST FLAT: Norway SWF Posts 0.1% for 3rd Quarter of 2014

Yngve Slyngstad

Yngve Slyngstad

Norway’s Government Pension Fund Global (GPFG) posted a 0.1% return for the third quarter of 2014. Equity investments posted -0.5% for the period, while fixed income posted 0.9%. Real estate investments for the period returned 1.5%.

In a press release, Yngve Slyngstad, CEO of Norges Bank Investment Management (NBIM), stated, “Two quarters of strong returns were followed by a virtually flat quarter.”

Slyngstad added, “Increased geopolitical uncertainty in the vicinity of the euro area contributed to a negative return on European stocks. The US, on the other hand, emerged as the global growth engine, and US stocks produced a positive return. The negative overall return on equities was cancelled out by a positive return on the fund’s fixed-income investments.”

Slyngstad commented on the fund’s real estate strategy, mentioning they are investing in a limited number of cities globally, focusing on office and retail properties. The real estate acquisitions have occurred in Europe and the United States. The sovereign wealth giant has partnered with large institutions such as MetLife, TIAA-CREF and Prologis on these purchases.

Yngve Slyngstad was ranked #4 on the Public Investor 100 list for 2014.


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