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Chance of Splitting Norway’s Sovereign Fund Increases as Conservatives Win

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insource_mgmtA political center-right coalition was formed as voters made their choices at the polls in Norway’s 2013 parliamentary elections. The Conservative Party leader Erna Solberg replaces Labor Prime Minister Jens Stoltenberg – an ideological shift in the minds of the Norwegian electorate. This begs the question on the future of Norway’s sovereign wealth fund: will rhetoric turn into action?

During the vigorous campaign season, the Conservative Party and the populist Progress Party hinted on possibly splitting up Norway’s Government Pension Fund Global (GPFG). The Populist Party is keen on cutting the sovereign wealth fund into three parts. White papers were issued by various think tanks – informing and persuading policymakers and voters.

Taking a step back, the GPFG is essentially a massive savings fund that funds a portion of Norway’s fiscal budget. At the moment, the Norwegian government can use 4% of the sovereign wealth fund’s value to fund the budget each year.

See Norway’s GPFG Profile

Did you know the GPFG owns more than 1% of all global stocks?

Sovereign Wealth Fund Views by Political Parties[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

CalPERS Commits $5 Billion Toward US Enhanced Equity Strategy

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The California Public Employees’ Retirement System (CalPERS) moved US$ 5 billion toward an internally-managed U.S. enhanced equity strategy. This falls under the global equity bucket at CalPERS.

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Chinese SAFE Investment Company Sells Off Stake in Ropemaker Place

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Singapore-listed property company Ho Bee Land, acquired a prime office at 25 Ropemaker Place, EC2, located in the City of London, for £650 million. The property went up for sale in December 2017.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Norway SWF Adds to Existing Investment in Central London

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On June 15, 2018, Norges Bank Real Estate Management, the manager of Norway Government Pension Fund Global, acquired 25 percent of a long leasehold interest in 30 Warwick Street in central London, in joint venture with The Crown Estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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