Connect with us

Norway’s Sovereign Wealth Fund Makes Case for External Managers

Published

on

Norges Bank Investment Management

Photo Credit: Norges Bank Investment Management Press Conference

Norges Bank Investment Management (NBIM), manager of Norway’s sovereign wealth fund, has countered an article written by Dagens Næringsliv, a Norwegian business media source, which published on February 18, 2015. 4% of Norway sovereign wealth fund assets are managed by external managers, a lower proportion compared to many sovereign wealth funds and large pensions. NBIM’s reason for keeping such an allocation is due to the need for expertise in niche markets and specialist segments. Thus most of NBIM’s equity exposure to emerging markets is conducted through external managers. In addition, specialist-focused strategies like healthcare or environmental strategies are also outsourced as well.

See Norway’s Sovereign Wealth Fund – Institutional Investor Profile

According to NBIM, since the formation of Norway’s Government Pension Fund Global (GPFG), external managers have contributed an excess of 15 billion NOK after costs. Taking February 20, 2015’s NOK translation into U.S. dollars, the amount is US$ 1.97 billion.

DOJ Investing Tesla Over Musk Comments

Published

on

The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

Continue Reading

Marsh & McLennan Companies to Acquire JLT Group

Published

on

Marsh & McLennan Companies, Inc. (MMC), a global professional services firm offering clients advice and solutions in risk, strategy and people, announced that it has reached an agreement to acquire Jardine Lloyd Thompson Group plc (JLT), a provider of insurance, reinsurance and employee benefits related advice, brokerage and associated services. The transaction has been approved by the Board of Directors of each of MMC and JLT. JLT’s largest shareholder, Jardine Matheson Holdings, and JLT directors who collectively represent 40.5% of the issued and outstanding JLT shares in support of the transaction.

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

Continue Reading

Indigo Ag Raises Series E Round

Published

on

Indigo Ag, Inc. raised US$ 250 million in a Series E funding round. The company is focused on creating innovative microbial products that increase crop yields in the face of environmental, disease, and pest stress. The investors in this round include Baillie Gifford, Investment Corporation of Dubai, the Alaska Permanent Fund Corporation, and the company’s founder, Flagship Pioneering. After the Series E, in total, Indigo has raised over US$ 650 million.

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.