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How Exposed is Norway’s Sovereign Fund to Japanese Government Bonds?

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DATA – Norway’s GPFG Allocation to Japanese Government Bonds

nbim_JGB_jan2016

The Bank of Japan jilted institutional investors as it moved key interest rates into negative territory in specific instances. Specifically, the negative interest rates, a -0.1% rate, would affect a portion of financial institution’s deposits parked at the Bank of Japan. This “tax” could force banks to invest in more risky assets and ventures. The Bank of Japan mentioned it may lower interest rates deeper into negative territory if they deemed it necessary. The central bank’s asset purchasing program remains in place. The central bank is attempting to combat deflationary pressures. Negative yields make up around 25% of JPMorgan’s index for government bonds.

At the same time, wealth funds and pensions have allocations to Japanese government bonds. The largest wealth fund in the world had been steadily buying more Japanese government bonds since before 2010.

Norway’s Government Pension Fund Global (GPFG) has a low 1.6% allocation of its total portfolio to Japanese government bonds.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

PSP Investments and Blue Sky Alternative Investments End Strategic Partnership Agreement

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Blue Sky Alternative Investments Limited informed Canada’s Public Sector Pension Investment Board (PSP Investments) that it agreed to terminate its strategic agreement effective March 31, 2019. In December 2017, Blue Sky Alternative Investments forged an agreement with PSP Investments to assist in committing capital in a number of agricultural investments.

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Yield-Hungry Korean Insurance Capital Backs TSX Broadway

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Mirae Asset Daewoo Co., Ltd., the Seoul-based investment banking firm, has provided a US$ 375 million loan for a redevelopment in New York’s Times Square. It joins L & L Holding Company, Maefield Development, and Fortress Investment Group who are bringing the development known as TSX Broadway to life. The building is at 1568 Broadway in Manhattan. TSX Broadway, a US$ 2.5 billion project when all equity financing is added in, will allow for renovations and expansion of the 46-storey building. An LED screen, which is not an uncommon sight in the Big Apple, will wrap around the corner of the tower. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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OFFICIALS: Saudi Crown Prince Denies Interest in Acquiring Manchester United

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The Saudi Arabian government dispelled rumors that Saudi Crown Prince Mohammed bin Salman will acquire football club Manchester United. However, Saudi Arabia’s Public Investment Fund (PIF) had talks regarding sponsorship with the football club. Manchester United signed a partnership deal with Saudi Arabia’s General Sports Authority in 2017.

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