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LPNEWS

Norway Rejects Infrastructure Allocation For Sovereign Fund

by ipe.com posted 1year ago 581 views
<p>The Norwegian government has once more rejected the idea of including unlisted infrastructure investments in the Government Pension Fund Global (GPFG).</p> <p>The country&rsquo;s finance ministry has also said the&nbsp;NOK7.9bn (&euro;861bn) sovereign wealth fund should not divest from oil and gas stocks, as it would not reduce the fund&rsquo;s exposure to related risks.</p> <p>In a white paper on the management of the fund in 2016 &ndash; released at the end of last month and due to be voted on in parliament in May &ndash; the finance ministry also proposed increasing the strategic equity allocation of the fund to 70% from 62.5% currently, as it&nbsp;<a href="https://www.ipe.com/news/norway-slashes-swfs-expected-return-to-3/10017611.article" target="_blank">announced in February</a>.</p> <p>Siv Jensen, minister of finance, said: &ldquo;A higher equity share requires broad political consensus, as well as the ability to remain committed to the investment strategy, also when the fund fluctuates in value.&rdquo;</p>