Professional Pensions www.professionalpensions.com Norway pension fund loses $52bn in Q3 <p><!--summary start--> NORWAY - The Government Pension Fund Global returned -8.8% or -NOK284bn ($52bn) due to stumbling global stock markets, third quarter results show. <!--summary end--></p> https://www.professionalpensions.com/news/1006280/norway-pension-fund-loses-usd52bn-q3 https://www.professionalpensions.com/news/1006280/norway-pension-fund-loses-usd52bn-q3 Fri, 28 Oct 2011 14:21:10 +0000 EDB ErgoGroup settles dispute over DB, DC pension switch <p><!--summary start--> 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. <!--summary end--></p> https://www.professionalpensions.com/news/1013862/edb-ergogroup-settles-dispute-db-dc-pension-switch https://www.professionalpensions.com/news/1013862/edb-ergogroup-settles-dispute-db-dc-pension-switch Thu, 25 Aug 2011 15:07:00 +0000 Norway Global Fund overseer resigns <p><!--summary start--> 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. <!--summary end--></p> https://www.professionalpensions.com/news/2104520/norway-govt-confirms-oil-fund-guru-resigns https://www.professionalpensions.com/news/2104520/norway-govt-confirms-oil-fund-guru-resigns Thu, 25 Aug 2011 12:35:00 +0000 One-third of Nordic investors to increase hedge fund exposures <p><!--summary start--> 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. <!--summary end--></p> https://www.professionalpensions.com/news/1008256/-nordic-investors-increase-hedge-fund-exposures https://www.professionalpensions.com/news/1008256/-nordic-investors-increase-hedge-fund-exposures Mon, 15 Aug 2011 15:09:00 +0000 Government Fund returns 0.3% in Q2 <p><!--summary start--> 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. <!--summary end--></p> https://www.professionalpensions.com/news/2101503/government-fund-returns-03-q2 https://www.professionalpensions.com/news/2101503/government-fund-returns-03-q2 Fri, 12 Aug 2011 15:01:29 +0000 CPPIB-led consortium takes stake in gas transportation network <p><!--summary start--> 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. <!--summary end--></p> https://www.professionalpensions.com/news/1005741/cppib-led-consortium-takes-stake-gas-transportation-network https://www.professionalpensions.com/news/1005741/cppib-led-consortium-takes-stake-gas-transportation-network Mon, 6 Jun 2011 12:47:17 +0000 Norway's Global Pension Fund to reduce Europe exposure <p><!--summary start--> 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. <!--summary end--></p> https://www.professionalpensions.com/news/1002685/norway-global-pension-fund-reduce-europe-exposure https://www.professionalpensions.com/news/1002685/norway-global-pension-fund-reduce-europe-exposure Fri, 8 Apr 2011 15:17:36 +0000 Monday Movers <p><!--summary start--> Norges Bank, New York City, HSBC, Lockheed Martin, RAM, SPAA <!--summary end--></p> https://www.professionalpensions.com/news/2040061/monday-movers https://www.professionalpensions.com/news/2040061/monday-movers Mon, 4 Apr 2011 13:39:00 +0000 Week on the Web 18 March - 24 March 2011: What stories have you missed out on this week? <p><!--summary start--> 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. <!--summary end--></p> https://www.professionalpensions.com/news/2037376/web-march-march-2011-stories-missed https://www.professionalpensions.com/news/2037376/web-march-march-2011-stories-missed Fri, 25 Mar 2011 10:43:00 +0000 Norway Global Government Pension records fifth highest returns ever <p><!--summary start--> NORWAY - The Government Pension Fund Global returned 9.6% in 2010, driven by widespread gains in global stock and bond markets. <!--summary end--></p> https://www.professionalpensions.com/news/2035361/norways-global-government-pension-records-fifth-returns https://www.professionalpensions.com/news/2035361/norways-global-government-pension-records-fifth-returns Fri, 18 Mar 2011 12:14:00 +0000 NBIM CIO Enge steps down <p><!--summary start--> NORWAY - Bengt Enge, the investment chief at Norges Bank Investment Management (NBIM), has stepped down. <!--summary end--></p> https://www.professionalpensions.com/news/2032235/nbim-cio-enge-steps https://www.professionalpensions.com/news/2032235/nbim-cio-enge-steps Tue, 8 Mar 2011 15:00:01 +0000 New mandate for GPFG management <p><!--summary start--> 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. <!--summary end--></p> https://www.professionalpensions.com/news/1936261/mandate-gpfg-management https://www.professionalpensions.com/news/1936261/mandate-gpfg-management Tue, 11 Jan 2011 15:18:00 +0000 Norway sets new mandate for management of oil fund <p><!--summary start--> 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. <!--summary end--></p> https://www.professionalpensions.com/news/1895659/norway-sets-mandate-management-oil-fund https://www.professionalpensions.com/news/1895659/norway-sets-mandate-management-oil-fund Thu, 11 Nov 2010 14:21:28 +0000 Global Fund makes first property investment <p><!--summary start--> 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. <!--summary end--></p> https://www.professionalpensions.com/news/1869355/global-fund-makes-property-investment https://www.professionalpensions.com/news/1869355/global-fund-makes-property-investment Thu, 4 Nov 2010 14:26:26 +0000 Gjedrem signals objection to losing $520bn fund <p><!--summary start--> 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. <!--summary end--></p> https://www.professionalpensions.com/news/1868037/gjedrem-signals-objection-losing-usd520bn-fund https://www.professionalpensions.com/news/1868037/gjedrem-signals-objection-losing-usd520bn-fund Wed, 3 Nov 2010 13:36:33 +0000 Norway fund to purchase NOK800m a day in currencies <p><!--summary start--> NORWAY - Norway's Government Pension Fund Global is to purchase foreign exchange in November equivalent to NOK800m ($135m) a day. <!--summary end--></p> https://www.professionalpensions.com/news/1863162/norway-fund-purchase-nok800m-day-currencies https://www.professionalpensions.com/news/1863162/norway-fund-purchase-nok800m-day-currencies Fri, 29 Oct 2010 13:34:09 +0000 Norway Government fund hits $512bn <p><!--summary start--> NORWAY - Norway's Government Pension Fund Global has grown to NOK3trn ($512bn) for the first time in its 14-year history. <!--summary end--></p> https://www.professionalpensions.com/news/1790824/norway-government-fund-hits-usd512bn https://www.professionalpensions.com/news/1790824/norway-government-fund-hits-usd512bn Tue, 19 Oct 2010 11:10:18 +0000 Norway fund to include private equity and infrastructure <p><!--summary start--> 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. <!--summary end--></p> https://www.professionalpensions.com/news/1003802/norway-fund-private-equity-infrastructure https://www.professionalpensions.com/news/1003802/norway-fund-private-equity-infrastructure Tue, 5 Oct 2010 15:19:05 +0000 UK alternatives trail Scandinavia <p><!--summary start--> UK/SCANDINAVIA - UK pension funds are lagging behind their Scandinavian counterparts in allocating to alternative asset classes, a consultant says. <!--summary end--></p> https://www.professionalpensions.com/news/1001113/uk-alternatives-trail-scandinavia https://www.professionalpensions.com/news/1001113/uk-alternatives-trail-scandinavia Thu, 16 Sep 2010 14:51:00 +0000 Norway sheds investments in three firms - UPDATED <p><!--summary start--> NORWAY - The Norway Pension Fund Global has divested from two Israeli companies and a Malaysian business claiming the firms engage in "grossly unethical activity". <!--summary end--></p> https://www.professionalpensions.com/news/1729227/norway-sheds-investments-firms https://www.professionalpensions.com/news/1729227/norway-sheds-investments-firms Mon, 23 Aug 2010 15:05:00 +0000 Norway state pension fund returns -5.4% in Q2 <p><!--summary start--> 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. <!--summary end--></p> https://www.professionalpensions.com/news/1728090/norway-pension-fund-returns-54-q2 https://www.professionalpensions.com/news/1728090/norway-pension-fund-returns-54-q2 Mon, 16 Aug 2010 11:54:00 +0000 Norway's Pension Fund to boost investments in Asia <p><!--summary start--> 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. <!--summary end--></p> https://www.professionalpensions.com/news/1021270/norway-pension-fund-boost-investments-asia https://www.professionalpensions.com/news/1021270/norway-pension-fund-boost-investments-asia Thu, 1 Jul 2010 10:45:00 +0000 Norges Bank appoints State Street for real estate <p><!--summary start--> NORWAY - Norges Bank has appointed State Street Corporation to provide fund administration services for the real estate portion of the Norwegian Government Pension Fund. <!--summary end--></p> https://www.professionalpensions.com/news/1023588/norges-bank-appoints-street-real-estate https://www.professionalpensions.com/news/1023588/norges-bank-appoints-street-real-estate Thu, 20 May 2010 14:46:22 +0000 Changes afoot for Norway's DB market <p><!--summary start--> 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. <!--summary end--></p> https://www.professionalpensions.com/news/1635423/changes-afoot-norway-db-market https://www.professionalpensions.com/news/1635423/changes-afoot-norway-db-market Fri, 7 May 2010 15:11:00 +0000 Norwegian pensions face an eruption of a different kind <p><!--summary start--> The current Norwegian pension system is to be replaced by a new system in 2011, but will it solve the problems, or create new ones? Alison Swersky reports <!--summary end--></p> https://www.professionalpensions.com/feature/1603523/norwegian-pensions-eruption https://www.professionalpensions.com/feature/1603523/norwegian-pensions-eruption Thu, 29 Apr 2010 12:40:00 +0000 Norway's Oil Fund: still active, less risky <p><!--summary start--> Alison Swersky speaks to Norway's finance minister Sigbjørn Johnsen about the Ministry of Finance's decision to limit active risk within the Government Pension Fund Global <!--summary end--></p> https://www.professionalpensions.com/feature/1603515/norway-oil-fund-active-risky https://www.professionalpensions.com/feature/1603515/norway-oil-fund-active-risky Thu, 29 Apr 2010 12:39:00 +0000 Norway: A cautious approach <p><!--summary start--> Norwegian pensions have tended to adapt a careful approach to investment but following the financial meltdown, has this proved successful? Giovanni Legorano reports <!--summary end--></p> https://www.professionalpensions.com/feature/1603513/norway-cautious-approach https://www.professionalpensions.com/feature/1603513/norway-cautious-approach Thu, 29 Apr 2010 12:38:00 +0000 NBIM loaded up on Greek equities <p><!--summary start--> NORWAY/GREECE - Norway's public pension fund appears to be the biggest proportional loser from knock-on effects of Greece's debt woes, after Norges Bank Investment Management (NBIM) boosted its holdings in Greek equities by 45.8% during the second half of 2009, according to analysis of publicly available data by researchers Ipreo. <!--summary end--></p> https://www.professionalpensions.com/news/1002432/nbim-loaded-greek-equities https://www.professionalpensions.com/news/1002432/nbim-loaded-greek-equities Thu, 22 Apr 2010 15:06:00 +0000 A governmental influence <p><!--summary start--> Staff at Norway's NOK2.7trn (US$452.2bn) Government Pension Fund Global must be breathing a sigh of relief as the Ministry of Finance took a slightly lighter touch when restricting its investments than had been feared. <!--summary end--></p> https://www.professionalpensions.com/opinion/1600266/-governmental-influence https://www.professionalpensions.com/opinion/1600266/-governmental-influence Thu, 8 Apr 2010 14:33:43 +0000 Swedish AP funds shun Israeli defense firm <p><!--summary start--> SWEDEN/ISRAEL - Four of the buffer funds in the Swedish pay-as-you-go pension system have cut their ties with an Israeli defense company on ethical grounds. <!--summary end--></p> https://www.professionalpensions.com/news/1598980/swedish-ap-funds-shun-israeli-defense-firm https://www.professionalpensions.com/news/1598980/swedish-ap-funds-shun-israeli-defense-firm Tue, 30 Mar 2010 14:46:00 +0000 Norway Ministry of Finance to reduce active risk in Global fund <p><!--summary start--> NORWAY - The Norwegian Ministry of Finance said today it planned to limit the amount of tracking error the Government Pension Fund Global can introduce to the scheme through active management as it moves towards decreasing risk in the fund. <!--summary end--></p> https://www.professionalpensions.com/news/1598532/norway-ministry-finance-reduce-active-risk-global-fund https://www.professionalpensions.com/news/1598532/norway-ministry-finance-reduce-active-risk-global-fund Fri, 26 Mar 2010 15:13:31 +0000 Oil fund up 25.6% <p><!--summary start--> NORWAY - The Government Pension Fund Global posted a 25.6% profit for 2009 on the back of equities and fixed income gains. <!--summary end--></p> https://www.professionalpensions.com/news/1595175/oil-fund https://www.professionalpensions.com/news/1595175/oil-fund Fri, 5 Mar 2010 12:49:59 +0000 Norway replaces oil fund ethical investment guidelines <p><!--summary start--> NORWAY - The Ministry of Finance has introduced two new sets of ethical guidelines for responsible investment practices at the Government Pension Fund Global and its asset manager Norges Bank. <!--summary end--></p> https://www.professionalpensions.com/news/1594399/norway-replaces-oil-fund-investment-guidelines https://www.professionalpensions.com/news/1594399/norway-replaces-oil-fund-investment-guidelines Tue, 2 Mar 2010 15:19:00 +0000 Norway Global gets nod for real estate investments <p><!--summary start--> NORWAY - The Ministry of Finance has finalised rules allowing the Government Pension Fund Global to invest up to 5% of its NOK2.6trn (US$435.8bn) portfolio in real estate. <!--summary end--></p> https://www.professionalpensions.com/news/1005451/norway-global-nod-real-estate-investments https://www.professionalpensions.com/news/1005451/norway-global-nod-real-estate-investments Mon, 1 Mar 2010 13:17:00 +0000 Swedish funds buy into PPP operated road <p><!--summary start--> SWEDEN/NORWAY - Swedish company Skanska Infrastructure Development has sold its 50% stake in a Norwegian road operated as a public private partnership to its two parent company pension funds for SEK170m (US$23.5m). <!--summary end--></p> https://www.professionalpensions.com/news/1593668/swedish-funds-ppp-operated-road https://www.professionalpensions.com/news/1593668/swedish-funds-ppp-operated-road Thu, 25 Feb 2010 12:32:00 +0000 Norwegian fund manager expands into UK <p><!--summary start--> UK/NORWAY - Norwegian fund manager Skagen is setting up an operation in the UK. <!--summary end--></p> https://www.professionalpensions.com/news/1004025/norwegian-fund-manager-expands-uk https://www.professionalpensions.com/news/1004025/norwegian-fund-manager-expands-uk Tue, 16 Feb 2010 12:26:13 +0000 Norwegian pension fund hits back at climate change critics <p><!--summary start--> NORWAY - Norges Bank has defended itself against accusations that it is falling well short of its ambitions as an ethical investor with regard to climate change. <!--summary end--></p> https://www.professionalpensions.com/news/1588441/norwegian-pension-fund-hits-climate-change-critics https://www.professionalpensions.com/news/1588441/norwegian-pension-fund-hits-climate-change-critics Mon, 25 Jan 2010 15:06:00 +0000 Norway smokes out 17 tobacco producers <p><!--summary start--> NORWAY - Norway's Government Pension Fund Global has shed its NOK13.7bn (US$2.4bn) investment in 17 tobacco producing companies including Philip Morris and British American Tobacco. <!--summary end--></p> https://www.professionalpensions.com/news/1022672/norway-smokes-tobacco-producers https://www.professionalpensions.com/news/1022672/norway-smokes-tobacco-producers Tue, 19 Jan 2010 15:09:31 +0000 NBIM defends use of active management <p><!--summary start--> NORWAY - Officials at Norges Bank Investment Management (NBIM), manager for the Government Pension Fund Global, have written to the Ministry of Finance to defend its use of active management, as the future use of the investment strategy comes under question. <!--summary end--></p> https://www.professionalpensions.com/news/1587549/nbim-defends-active-management https://www.professionalpensions.com/news/1587549/nbim-defends-active-management Mon, 18 Jan 2010 15:30:00 +0000