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Norway’s sovereign fund sees sustained volatility

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Martin Skancke

According to the Guardian, “Investors face years of market volatility as governments consolidate their mountains of debt taken on both before and in response to the financial crisis, says the head of Norway’s sovereign wealth fund.

Martin Skancke, director general of the Norwegian Ministry of Finance Asset Management Department and responsible for the country’s sovereign wealth fund, said uncertainty may dominate but the fund’s long-term time horizon gives it the ability to ride out the gut-churning drops and equally fast rises.

“It will take a long time for governments in both Europe and the U.S. to consolidate their balance sheets. I think there will be probably uncertainty about that consolidation process which will give in to market volatility. That is something we are prepared for and can live with,” he said in a recent interview. “It could last a long time,” he added, referring to how governments will handle the aftershock effects of the financial crisis and how that has affected their accumulation of government debt.

On June 7, European Union finance ministers reached an agreement on the details for a 750 billion euro financial safety net for bloc members struggling to convince markets they can deal with high budget deficits and debt. Skancke said the three to five year time frame governments are giving themselves to cleaning up their balances sheets is a signal for continued uncertainty.”

Read more: Guardian

Blackstone Defeated on Investa Office Fund Bid

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The Blackstone Group threw in the towel on a bid to take over the Investa Office Fund, a vehicle that owns prized Australian office properties. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek’s Bond Expected to Lure Retail Investors

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Singapore’s Temasek Holdings, through its subsidiary Temasek Financial (IV) Private Limited, is planning a 5-year bond that aims to yield 2.7% for retail investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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QIA Becomes the Largest Shareholder in Colonial

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The Qatar Investment Authority (QIA) became the biggest shareholder of Inmobiliaria Colonial, SOCIMI, S.A. (Colonial), a Spanish listed real estate company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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