Sovereign wealth fund (SWF)
Norway’s pension fund may be close to peak, Olsen says
Norges Bank governor says Norway should not count on being able to build its sovereign wealth fund much further, and must brace for a difficult period of rebalancing after the oil boom
NBIM reports clarify demands for high ethical standards
Norwegian SWF expects firms it invests in to address a broad range of long-term risks, including the need to meet high ethical standards; publishes expectations document on human rights
Negative commodity price shocks weaken EM financial sectors, IMF paper argues
The financial sectors of resource-rich emerging economies are vulnerable to negative commodity price shocks, working paper argues; better policy can increase resilience
Future Fund shifts from equities to cash and achieves above-target return in 2015
Australia’s sovereign wealth fund, the Future Fund, shifted from equities to cash to reduce its risk exposure, senior management say; yearly returns were above target
South Korea’s new SWF chief sets sights on ‘top ten’
Former World Bank executive director takes office as CEO of the Korea Investment Corporation; sets out desire to grow assets under management beyond $200 billion
Sovereign investor of the year: Future Fund
Australia’s sovereign wealth fund took the restrained decision not to increase its risks to chase returns in 2015. Instead it focussed on improving its operational framework
Norges Bank to supervise $1bn-plus SWF property deals
Central bank executive board will supervise real estate investments above $1bn made by sovereign wealth managers; separate committee formed for investments over $250m
Australian SWF heads see returns dipping as central banks normalise policy
The chair of the Australian Government Future Fund says easy monetary policy ‘cannot be sustained indefinitely’ and returns are likely to drop in coming years
Norway’s oil fund suffers loss in second quarter
Losses of about $9 billion were largely driven by the fixed-income portfolio, although equities delivered a weak performance; NBIM takes a more activist stance
NBIM report urges stock exchanges to prepare for next phase of development
Technological and regulatory changes have led to faster, more fragmented markets, and stock exchanges need to adapt if they are to keep up; latency race to zero is a ‘dead end’, says fund
Azerbaijan SWF looks to Chinese equities after foray into renminbi
The State Oil Fund of the Republic of Azerbaijan is ‘planning to gain exposure to Chinese equity markets’ after successfully investing in yuan-denominated instruments
New Zealand SWF hires BMO to aid ethical push
The NZ Super Fund appoints BMO Global Asset Management to help 'global engagement programme' aimed at improving standards at the companies it owns
Central banks have 'track record' to manage new African SWFs, says World Bank expert
Ekaterina Gratcheva argued at a forum in Basel this weekend that central banks' institutional history makes them suitable managers for sovereign wealth funds
Aussie sovereign wealth fund readies for lower future returns
Australia's Future Fund has adopted a flexible approach to deal with a challenging yield environment
Former central bank chief to head up Zimbabwe SWF
Kombo Moyana, governor between 1983 and 1993, will chair board governing the country’s new sovereign wealth fund
Norges Bank faces ‘ripple effects’ from oil price collapse
Norway heading in opposite direction to generally favourable global trend, central bank’s annual report warns; banking sector profitable and resilient nonetheless
Qatari royal takes over oil fund
Previous CEO lasted little over a year before he was replaced by a member of the Qatari ruling family; sovereign wealth fund comes bottom in global governance and transparency rankings
MAS chief sees SWFs struggling with secular stagnation
Ravi Menon urges sovereign wealth funds to move beyond traditional asset classes to tackle diminishing returns
Trinidad and Tobago SWF set to gain corporate status
Incorporation will enable Heritage and Stabilisation Fund to hire staff and build capacity, says chairman Ralph Henry; ‘decent’ returns this year, he says
Norway SWF suffers weakest quarter in two years
Government Pension Fund Global returns 0.1% in third quarter following losses on European stocks; acquired several properties in EU and US
UAE governor replaced after 23 years in job
Sultan Bin Nasser Al-Suwaidi will be replaced as governor by Mubarak Rashid Al-Mansouri, who is currently CEO of the Emirates Investment Authority
Norway SWF manager doubles leadership team
Norges Bank Investment Management sets up separate ‘leader group' for real estate investments; wealth fund returns 3.3% ($31 billion) in second quarter
Angola SWF to send students to Switzerland as it ‘invests in investing'
Petroleum fund will pay for bright young Angolans to study investment in Zurich; move follows advice from abroad that investment capacity should be built up
Timor-Leste SWF hits 40% equities allocation
Timor-Leste petroleum fund quarterly report shows returns still exactly in line with benchmark; equity allocation hits 40%