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Norway’s SWF Posts 2.7% Return for 2015

Yngve Slyngstad

Yngve Slyngstad

Norway’s Government Pension Fund Global (GPFG) returned 2.7%, or 334 billion NOK, in 2015. Real estate was the best performing asset class at 10%. The wealth fund’s allocation to real estate moved up to 3.1% of assets. Norway’s GPFG also opened offices for real estate in Tokyo and Singapore. Equity investments returned 3.8%, while fixed income investments posted 0.3% in returns. At year-end 2015, the fund had a market value of 7,475 billion NOK.

View Sovereign Wealth Fund Profile of Norway’s GPFG

In a press release statement, Yngve Slyngstad, CEO of Norges Bank Investment Management (NBIM) commented, “2015 was a volatile year, with negative interest rates, currency turmoil, falling oil prices and weaker growth expectations for emerging markets. We have seen fluctuations in the fund’s return from quarter to quarter, but overall a satisfying result.”

Slyngstad addressed media, commenting that Norway’s sovereign fund has not been a part of the global selloff of listed equities this quarter. Some of the wealth fund’s largest listed equity holdings at year-end December 2015 were Nestle, Apple, Roche Holding, Novartis, Alphabet (formerly Google), Microsoft, BlackRock and HSBC Holdings.

Comments on Brexit

On another note, according to a Reuters interview with Yngve Slyngstad, he mentioned if Britain left the European Union it would not be a significant risk to its investments. Slyngstad said in the interview, “We will continue to be a significant investor in the UK at about the same level as we are today and probably even increasing our investments there going forward no matter what happens.”

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San Diego City Employees Retirement System to Reduce PE and Infrastructure for FY 2018

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Split Consensus on Wall Street

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