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See the Main Reason Why Norway’s Sovereign Wealth Fund Likes Equities

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The US$ 838 billion sovereign fund had a 26.28% return in its equity portfolio versus a 0.1% return in the fixed income portfolio. In total, the sovereign fund posted a 15.9% return in 2013.

In recent news, the mega sovereign fund became a net seller of stocks to comply with its limit on public equity holdings. 150 billion kroner worth of stock was sold (~US$ 25 billion) in the fourth quarter of 2013.

Norway’s sovereign wealth fund is managed by Norges Bank Investment Management.

Investment Returns -Asset Class – Norges Bank Investment Management

Year Equity Portfolio Returns (%) Fixed Income Portfolio Returns (%)
1999 34.81 -0.99
2000 -5.82 8.41
2001 -14.6 5.04
2002 -24.39 9.9
2003 22.84 5.26
2004 13 6.1
2005 22.49 3.82
2006 17.04 1.93
2007 6.82 2.96
2008 -40.71 -0.54
2009 34.27 12.49
2010 13.34 4.11
2011 -8.84 7.03
2012 18.06 6.68
2013 26.28 0.1

 

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nbim_assetclassreturnsFEB2014

>> See how the sovereign fund’s fixed income asset class performed?[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

SWFI First Read, June 21, 2018

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PSP Investments Nears Deal on Azelis

PSP Investments and EQT Partners (through fund EQT VIII) are in exclusive talks to acquire Belgium-based Azelis S.A. from funds managed by Apax Partners. Formed in 2001, Azelis is a specialty chemicals and food ingredients distributor. The transaction is subject to regulatory approvals.

Oxford Properties Wins Rights on Barangaroo Office Development

Melbourne-based Grocon Pty Ltd selected Oxford Properties, the real estate unit of OMERS, as a preferred partner for it’s a A$ 2 billion, 5.2-hectare Barangaroo Central project development. This is an office tower development. Oxford Properties essentially won the rights toward the project (rumored at a price of A$ 100 million), freeing the developer from a high-cost finance deal with Maxcap, a lender.

Investment Management Corporation of Ontario Selects Jean Michel as CIO

The Investment Management Corporation of Ontario named Jean Michel as chief investment officer. This role is effective July 3, 2018. Michel was executive vice president, advisory services to depositors and strategic analysis, at Caisse de Depot et Placement du Quebec (CDPQ).

Wil Warren Named President of Lexington Partners

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Large Public Asset Owners Commit to Goodman Brazil Logistics Partnership

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Canada Pension Plan Investment Board (CPPIB) unveiled plans to commit 500 million BRL (C$ 175 million) in equity for a 20% interest in the newly established Goodman Brazil Logistics Partnership to invest in prime logistics and industrial assets in the key gateway cities of São Paulo and Rio de Janeiro. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mubadala Supports Two European Aquaculture Transactions

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Mubadala Investment Company is keen on growing exposure to agribusinesses whether in farming or aquaculture. With money from Mubadala and AMERRA Capital Management LLC, Andromeda Group acquired Nireus SA (at 74.34% stake) and Selonda SA at (79.62% stake), two European aquaculture companies that focus on sea bream and sea bass. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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