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.
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 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.
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.
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.
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.
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.
Monday Movers
Norges Bank, New York City, HSBC, Lockheed Martin, RAM, SPAA
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.
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.
NBIM CIO Enge steps down
NORWAY - Bengt Enge, the investment chief at Norges Bank Investment Management (NBIM), has stepped down.
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 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.
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.
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 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 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 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.
UK alternatives trail Scandinavia
UK/SCANDINAVIA - UK pension funds are lagging behind their Scandinavian counterparts in allocating to alternative asset classes, a consultant says.
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 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'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.
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.
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.
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