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Norway’s GPFG Returns 4.7 Percent for 3rd Qtr 2012

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According to the press release, “the Government Pension Fund Global returned 4.7 percent, or 167 billion kroner, in the third quarter of 2012.

“The result was largely driven by a rally in global stock markets,” says Yngve Slyngstad, chief executive officer of Norges Bank Investment Management (NBIM), which manages the fund. “Stocks gained the most in Europe, where the fund has about half of its shareholdings.”

Equity investments returned 6.5 percent and fixed-income investments returned 2.2 percent. The return on these investments was 0.03 percentage point lower than the return on the fund’s benchmark indices. Investments in real estate returned 2.7 percent.

The fund in the quarter reduced its holdings of French and Spanish government debt. It boosted its investments in US and Japanese government bonds and increased its holdings of government bonds issued in the currencies of emerging economies such as South Korea, Mexico and Russia. The changes reflect a strategy to gradually reduce the fund’s share of European bonds while increasing bond investments in other regions.”

Read more: Norges Bank Investment Management Press Release

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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