MBS Wants Saudi Arabia Fund to Reach $2 Trillion in Assets
The crown prince’s ambitious plan for the Public Investment Fund would change the kingdom’s dependence on oil while creating the world’s largest pool of institutional money, but questions remain.
Saudi Arabia Crown Prince Mohammed bin Salman has unveiled an ambitious plan that would make the Public Investment Fund (PIF) the largest sovereign wealth fund in the world, increasing its roughly $400 billion in assets to $1.1 trillion by 2025 and $2 trillion by 2030.
Analysts question whether the plan is feasible, but one thing is certain: The 35-year-old de facto ruler of Saudi Arabia doesn’t think small.
Norway SWF Makes its First Renewables Infrastructure Investment
Posted on 04/08/2021
On April 7, 2021, Norges Bank Investment Management (NBIM), manager of Norway Government Pension Fund Global, made its first unlisted renewable infrastructure investment by purchasing a 50 percent interest in the Borssele 1 & 2 offshore wind farm located in the Netherlands. Europe is a major player in offshore wind power.
The price for the stake was 1,375 million euros. No external debt financing will be involved in the transaction. Borssele 1 & 2 is the largest operational offshore wind farm in the Netherlands – and the second largest operational offshore wind farm in the world – with an installed capacity of 752 MW.
Norway Sovereign Wealth Fund Could Reduce Number of Companies in Reference Index
Posted on 04/09/2021
Holding positions in around 9,100 companies, Norway Government Pension Fund Global could be reducing the number of companies in its equity benchmark. The recommendation from the finance ministry calls for a reduction in the fund’s global company reference index of between 25% and 30% to better follow up companies, primarily by removing small-cap stocks. The recommendation adds, the SWF should not add, for now, more companies from emerging markets, including from Saudi Arabia, in the index governing its investment.
According to an April 9, 2021 press release from Norway’s Ministry of Finance, “The number of markets and companies included in the GPFG equity benchmark has increased significantly over time. The benchmark currently comprises about 8,800 companies across 24 developed and 22 emerging markets.
Norway SWF Could be Looking to Ban Cannabis Stocks
Posted on 04/09/2021
Norway Government Pension Fund Global is the largest listed equity investor in the world when it comes to sovereign wealth funds. The sovereign investor also has guidelines on whether to exclude an investment from its portfolio.
According to a press release from Norway’s Ministry of Finance, “The Government supports the Committee’s view that there are fundamentally problematic aspects of lethal autonomous weapons. However, there is no clear definition of lethal autonomous weapons as yet, and such weapons have according to the Committee not been entered into use thus far. The Government is to that end not proposing such a criterion at this time. The Ministry will continue to examine a potential criterion in this regard, in view of current international efforts to develop guidelines on the use of such weapons. As far as nuclear weapons are concerned, the Government is proposing that the guidelines shall ap
What does delivering a net zero investment portfolio actually entail? investmentweek.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investmentweek.co.uk Daily Mail and Mail on Sunday newspapers.