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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.”

Former U.S. Treasury Secretary Jacob Lew Joins Lindsay Goldberg

New York-based buyout firm Lindsay Goldberg LLC has announced that Former U.S. Treasury Secretary Jacob J. Lew will join the company as a partner focusing on investments across sectors, institutional relationships, and firm management, according to an announcement released on Monday, November 20. Lindsay Goldberg is a private equity firm co-founded by Alan E. Goldberg and Robert D. Lindsey, both veterans of Morgan Stanley in which they worked in the Transaction Development Group.

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

The San Diego City Employees’ Retirement System plans to reduce annual commitments to private equity and infrastructure down to US$ 75 million for fiscal year 2018. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Institutional Investors Remain Skeptical as Bitcoin Continues to Rise

Bitcoin has continued to rally over the past month – hitting a record US$ 8,224 in the early hours of November 20 – and institutional investors are beginning to take notice of the cryptocurrency’s increasing popularity. With a market value of more than US$ 130 billion, the digital currency has seen unprecedented growth of over 700% over the past year. But Bitcoin’s rise has also been marked by a number of volatile slumps, leaving institutional investors divided over its durability as a long-term store of value and wondering whether to get in on the action. Despite these headwinds, more than 100 hedge funds have been formed to trade in digital currencies.

Split Consensus on Wall Street

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