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Norway Says Sovereign Wealth Fund Won’t Move to Exclude Israel

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Investing in the Middle East is challenging, especially with all the political tensions. Norway’s Government Pension Fund Global (GPFG) won’t exclude companies from Israel. This is after Israel raided aid-laden ships headed toward Gaza. Their reasoning is the sovereign wealth fund’s portfolio does not mark ethical rules based on nationality. This was the response from the Norwegian Ministry of Finance.

“It’s not in keeping with the ethical guidelines to exclude all companies located in a particular geographic area or country,” the Norwegian Ministry of Finance commented on their statement via website. “If we exclude companies due to their presence in a region, or because of a particular nationality, the fund would be perceived as a foreign policy instrument.”

Saudi Aramco and PIF See Opportunities in Russia

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Saudi Arabia’s Public Investment Fund (PIF) is currently exploring opportunities within Russia. PIF is working with the Russian Direct Investment Fund (RDIF) on a number of fronts. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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HNA Group Aims to Shrink and Sell

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Chinese conglomerate HNA Group is on a selling spree due to an order from the government in Beijing to scale back on debt. HNA Group joins Anbang Insurance Group and Dalian Wanda Group in deleveraging from global assets, particularly in hotels and real estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Central Bank of Hungary Buys Mounds of Gold

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In October, the Central Bank of Hungary (MNB) boosted its gold reserves by 10 times, from 3.1 tons to 31.5 tons. This was revealed on October 16, 2018. The gold acquired by the central bank in October has a holding value of US$ 1.24 billion.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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