Norway

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.

NORWAY - The Government Pension Fund Global posted a 25.6% profit for 2009 on the back of equities and fixed income gains.

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.

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.

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).

UK/NORWAY - Norwegian fund manager Skagen is setting up an operation in the UK.

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.

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.

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....

NORWAY - The Government Pension Fund - Global raked in record returns of 13.5% in the third quarter, equating to a gain in assets of NOK325bn (US$58.2bn).