Norway’s USD 870 Billion oil fund shows who’s boss


Saxo TV – Saxo Bank and TradingFloor.com

Published on Aug 11, 2014

http://goo.gl/F3bttF

Norway’s oil fund must be making company boards feel just a little bit
more nervous. From next year the world’s largest sovereign wealth fund
is planning to publish how it will vote at annual meetings. It says
the move will increase transparency and strengthen the vote execution
chain. Excessive fat cat pay packets are already in its sights. It
comes as Norway reports July CPI at +0.6 percent – much better than
economists predicted. So what do we know about the Oil Fund?

Here are five facts: 1) Officially called the Government Pension Fund Global,
it’s worth around a staggering USD 870 billion and is expected to be
worth more than USD 1.1 trillion by 2020. 2) The Fund was officially
set up in 1990 and is managed by Norges Bank Investment Management
part of Norway’s Central Bank. 3) It invests in 8,000 companies across
82 countries – 60 percent in equities, 35 percent in fixed income and
5 percent in real estate. 4) Its largest equity investments are in:
Nestle, Royal Dutch Shell, Novartis, HSBC Holdings and Vodafone. 5)
The Oil fund has strong ethical guidelines and won’t invest in
numerous companies including British American Tobacco, Wal-Mart for
alleged human rights violations and Rio Tinto due to fears of
environmental damage.

Global Climate Change
Environment Ethics
Environment Justice

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