Norway

Norway pension fund loses $52bn in Q3

NORWAY - The Government Pension Fund Global returned -8.8% or -NOK284bn ($52bn) due to stumbling global stock markets, third quarter results show.

• Norway
• 28 October 2011

EDB ErgoGroup settles dispute over DB, DC pension switch

NORWAY - EDB ErgoGroup ASA has agreed to costs totalling some NOK9m ($1.7m) per year to settle a pension dispute with employee unions over its decision to transfer some staffers from a defined benefit to a defined contribution plan.

• Norway
• 25 August 2011

Norway Global Fund overseer resigns

NORWAY - The Ministry of Finance has confirmed that Martin Skancke has resigned his position as head of the department overseeing the Government Pension Fund Global.

• Norway
• 25 August 2011

One-third of Nordic investors to increase hedge fund exposures

NORDICS - Nordic investors are continuing to show optimism in hedge funds with nearly a third planning to increase their exposure this year to strategies like global macro, event driven and long/short funds, a new report shows.

• Sweden
• 15 August 2011

Government Fund returns 0.3% in Q2

NORWAY - The Government Pension Fund Global was up 0.3% in the second quarter after rising bond prices helped to offset drops in the global equities markets.

• Norway
• 12 August 2011

CPPIB-led consortium takes stake in gas transportation network

CANADA/NORWAY - A consortium of investors including the Canada Pension Plan Investment Board (CPPIB) has agreed to acquire a 24.1% stake in Norway's Gassled Joint Venture.

• Canada
• 06 June 2011

Norway's Global Pension Fund to reduce Europe exposure

NORWAY - Norway's Government Pension Fund Global should reduce its weighting to Europe and will consider changes to its fixed income portfolio, finance minister Sigbjorn Johnsen said in a report to parliament today.

• Norway
• 08 April 2011

Monday Movers

Norges Bank, New York City, HSBC, Lockheed Martin, RAM, SPAA

• Appointments
• 04 April 2011

Week on the Web 18 March - 24 March 2011: What stories have you missed out on this week?

GLOBAL - Have you missed the biggest stories in pensions this week? Find out below, as we list the top 10 most popular stories on www.globalpensions.com over the past seven days.

• United Kingdom
• 25 March 2011

Norway Global Government Pension records fifth highest returns ever

NORWAY - The Government Pension Fund Global returned 9.6% in 2010, driven by widespread gains in global stock and bond markets.

• Norway
• 18 March 2011

NBIM CIO Enge steps down

NORWAY - Bengt Enge, the investment chief at Norges Bank Investment Management (NBIM), has stepped down.

• Norway
• 08 March 2011

New mandate for GPFG management

NORWAY - The Ministry of Finance has finalised a new policy for Norges Bank's management of the Government Pension Fund Global (GPFG) with a stronger focus on risk management.

• Norway
• 11 January 2011

Norway sets new mandate for management of oil fund

NORWAY - Norway's Finance Ministry issued a new formal mandate for the management of the Government Pension Fund Global, the world's second-largest sovereign wealth fund.

• Norway
• 11 November 2010

Global Fund makes first property investment

NORWAY - The Government Pension Fund Global has made its first investment in real estate since it received the okay to invest in property in March.

• Norway
• 04 November 2010

Gjedrem signals objection to losing $520bn fund

NORWAY - Norges Bank Governor Svein Gjedrem signaled his opposition to removing Norway's $520bn oil fund from the central bank after a Cabinet minister suggested the fund's size may require putting it under new management in future.

• Norway
• 03 November 2010

Norway fund to purchase NOK800m a day in currencies

NORWAY - Norway's Government Pension Fund Global is to purchase foreign exchange in November equivalent to NOK800m ($135m) a day.

• Norway
• 29 October 2010

Norway Government fund hits $512bn

NORWAY - Norway's Government Pension Fund Global has grown to NOK3trn ($512bn) for the first time in its 14-year history.

• Norway
• 19 October 2010

Norway fund to include private equity and infrastructure

NORWAY - Norway's Government Pension Fund Global intends to broaden its investments to include infrastructure projects and private equity investments in a bid to increase returns.

• Norway
• 05 October 2010

UK alternatives trail Scandinavia

UK/SCANDINAVIA - UK pension funds are lagging behind their Scandinavian counterparts in allocating to alternative asset classes, a consultant says.

• United Kingdom
• 16 September 2010

Norway sheds investments in three firms - UPDATED

NORWAY - The Norway Pension Fund Global has divested from two Israeli companies and a Malaysian business claiming the firms engage in "grossly unethical activity".

• Norway
• 23 August 2010

Norway state pension fund returns -5.4% in Q2

NORWAY - The Government Pension Fund Global saw 5.4% (155bn kroner, $25bn) wiped off its investments in the second quarter of 2010, pulled down by a decline in global equity markets and a massive loss on its stake in BP.

• Norway
• 16 August 2010

Norway's Pension Fund to boost investments in Asia

NORWAY/ASIA - Norway's sovereign wealth fund, the world's second largest, will increase investments in Asia, as the region leads the global economic recovery, said Norges Bank Governor Svein Gjedrem.

• Norway
• 01 July 2010

Norges Bank appoints State Street for real estate

NORWAY - Norges Bank has appointed State Street Corporation to provide fund administration services for the real estate portion of the Norwegian Government Pension Fund.

• Norway
• 20 May 2010

Changes afoot for Norway's DB market

NORWAY - Radical changes to laws governing defined benefit plans in Norway will be needed to adapt the schemes to the new old-age state pension, a commission tasked with examining the future of pensions in the country's private sector has concluded.

• Norway
• 07 May 2010