2012

The Norwegian Government Pension Fund Global will through a joint venture with Prologis buy 50 percent of a portfolio of logistic properties for 1.2 billion euros, or about 8.9 billion kroner.

Norges Bank Investment Management (NBIM) has in a discussion note published today reviewed the theory and empirical evidence of the so-called value effect. The value effect is the tendency of value stocks to generate higher returns over time than growth stocks.

The Norwegian Government Pension Fund Global today bought the Uetlihof office complex in Zurich for 1 billion Swiss francs, or about 6.1 billion kroner, from the Swiss bank Credit Suisse.

From a risk management perspective, tail risks and return distribution asymmetries of investments are important to analyse. Norges Bank Investment Management (NBIM) in this note describes a modelling approach that addresses some of the weaknesses of standard risk models.

As a long-term and global investor, Norges Bank Investment Management (NBIM) seeks to promote well-functioning financial markets. This note looks at the theoretical foundation for well-functioning markets and the reasons why well-functioning markets are important to the long-term management objectives for the Government Pension Fund Global.

As a long-term, minority shareholder in more than 7,000 companies worldwide, NBIM seeks to promote equal treatment of shareholders and board accountability. We have outlined our expectations in these areas in two documents published today as part of a broader note on corporate governance.

Norges Bank Investment Management (NBIM) has published a discussion note on the small-firm effect (SFE), which describes the average long-term excess returns that a portfolio of small-capitalisation stocks have over a portfolio of large-capitalisation stocks.

The Government Pension Fund Global returned 4.7 percent, or 167 billion kroner, in the third quarter of 2012.

There is a sharp rise in company reports of detrimental impacts from drought and other water-related issues, yet little change in the number of companies with board level oversight of water strategies and no increase in the number of corporations providing transparent water-related risk assessments to investors. These are some of the key findings in the 2012 CDP Water Disclosure report published today.

The Norwegian Government Pension Fund Global and joint venture partner AXA France Insurance Companies have agreed to buy two buildings in Germany for a total of 784 million euros, or approximately 5.8 billion kroner, from the Royal Bank of Scotland.

The Norwegian Government Pension Fund Global has bought 50 percent of the UK shopping centre Meadowhall for £348 million, or approximately 3.2 billion Norwegian kroner.

Norges Bank Investment Management (NBIM), manager of the Norwegian Government Pension Fund Global, on 27 September awarded the first PhD scholarship to be granted by the Norwegian Finance Initiative (NFI).

The Government Pension Fund Global returned -2.2 percent, or -77 billion kroner, in the second quarter of 2012 as global stock markets declined.

The Norwegian Government Pension Fund Global agreed today to buy 50 percent of five properties in Paris from Generali Group for 275 million euros, or approximately 2.1 billion Norwegian kroner.

Limited access to fresh water is a growing risk for an increasing number of companies. Norges Bank Investment Management (NBIM) will on July 4 at the Singapore International Water Week host a seminar on the importance of managing and reporting on water-related risks at companies in Asia and Australia.

Norges Bank Investment Management (NBIM), manager of the Norwegian Government Pension Fund Global, on 19 June hosted its second annual financial research conference.

The Government Pension Fund Global returned 7.1 percent, or 234 billion kroner, in the first quarter of 2012 as stock markets rose. Measured in kroner, the quarterly return was the third largest since the fund’s inception.

Norges Bank today published three letters to the Norwegian Ministry of Finance advising on the investment strategy of the Government Pension Fund Global. The letters were sent to the ministry earlier this year and cover rebalancing, the fund’s strategic benchmark index for equities and emerging markets in a new strategic benchmark index for bonds. Their release follows the publication today of the ministry’s white paper on the management of the Government Pension Fund in 2011.

Read the letters and discussion notes.

Adidas, Nestlé and Air France-KLM were among 39 companies in a survey of 1,078 companies that received top marks for reporting on social or environmental risks in 2011. More than a third of the companies in the annual evaluation by Norges Bank Investment Management (NBIM), manager of the Norwegian Government Pension Fund Global, scored zero.

The Government Pension Fund Global returned -2.5 percent, or -86 billion kroner, in 2011 as global stock markets slumped.

Norges Bank Investment Management (NBIM), manager of the Norwegian Government Pension Fund Global, will sponsor the Asian Corporate Governance Association (ACGA).