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Norway’s GPFG Returned -2.5% in 2011

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Norway’s Government Pension Fund Global (GPFG) returned -2.5% in 2011. This was mostly attributable to global stock market declines. Norway’s GPFG returned -8.8% in equities, while fixed income returned 7%. The sovereign wealth fund had exposure to government bonds from the United States, United Kingdom, and Germany which proved to be beneficial in 2011. With the rising price of oil, capital inflows to the sovereign wealth fund totaled to 271 billion kroner, biggest since 2008.

According to Norway’s GPFG CEO Yngve Slyngstad, the sovereign wealth fund now holds 2.25% of the total European equity market.

Other interesting notes include assets under management by external managers reduced down to 4.4% of assets (145 billion kroner) in 2011. Norway’s SWF made a major push into real estate in 2011. The fund held interests in 114 buildings in London and Paris at year-end.

End of Year Allocation

  • 58.7% Equities
  • 41% Fixed Income
  • 0.3% Real Estate

China Helps Pakistan’s Foreign Reserves

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Despite Pakistan witnessing an increase in exports, the rapid increase in crude prices and lackluster financial inflows, have affected the country’s balance of payments position. Trying to avoid a full-scale currency crisis, Pakistan is also dealing with a fiscal budget deficit and a current account deficit. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Russia-Japan Investment Fund to Back Wood Pellet Production in Russia

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The Russian Far East has a lot of timber, and for that wood pellets is a source of biofuel. A while back, the Russian Direct Investment Fund (RDIF) formed the Russia-Japan Investment Fund (RJIF) with the Japan Bank for International Cooperation (JBIC). RDIF and JBICIG Partners as part of RJIF, together with RFP Group and Japan’s Prospect Co., Ltd. have agreed to collaborate and consider potential investments in Russia’s biofuel industry. JBICIG Partners is a subsidiary of the Japan Bank for International Cooperation.

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

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RDIF Lures Asian Investors Toward Russian Surgical Robot Project

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The Russian Direct Investment Fund (RDIF) is partnering with a number of unnamed Asian co-investors to allocate capital toward a project to create and manufacture Russian surgical robots. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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