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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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San Diego City Employees Retirement System to Reduce PE and Infrastructure for FY 2018

The San Diego City Employees’ Retirement System plans to reduce annual commitments to private equity and infrastructure down to US$ 75 million for fiscal year 2018. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Institutional Investors Remain Skeptical as Bitcoin Continues to Rise

Bitcoin has continued to rally over the past month – hitting a record US$ 8,224 in the early hours of November 20 – and institutional investors are beginning to take notice of the cryptocurrency’s increasing popularity. With a market value of more than US$ 130 billion, the digital currency has seen unprecedented growth of over 700% over the past year. But Bitcoin’s rise has also been marked by a number of volatile slumps, leaving institutional investors divided over its durability as a long-term store of value and wondering whether to get in on the action. Despite these headwinds, more than 100 hedge funds have been formed to trade in digital currencies.

Split Consensus on Wall Street

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