SWF Radar GovernmentPensionFundGlobal

Bloomberg writes that, “Norway’s government pension fund, Europe’s largest retirement plan, is mulling excluding pornographers, cigarette makers and bookmakers from the 2.08 trillion kroner ($388.1 billion) portfolio.”

Thomson Investment Management News reports (free registration required) that, “Norway’s finance minister has pledged to review the ethical guidelines for the 300 bln usd Government Pension Fund-Global (PFG) this year, as socially responsible investments become ‘mainstream’.”

The Associated Press reports that, “The Norwegian government global pension fund[, the Government Pension Fund - Global,] has dropped three companies, from the United States, Britain and South Korea, on ethical groups because of their roles in producing nuclear weapons or cluster munitions, the finance minister said Friday. The excluded companies are Hanwha Corporation, from South Korea, Serco Group PLC, from Britain, and GenCorp Inc. from the United States.”

Time writes that, “[T]he U.S. wants the new kids on the block to be more like Norway. Oslo’s Government Pension Fund-Global, which invests up to 60% of its $353 billion in equities, has money in 3,500 companies around the world, including Google and General Electric. But it owns no more than 1.5% of any single one, and it spells out all its investments in an annual report.”

The International Herald Tribune writes that, “Dressed in their traditional attire, the tribal representatives came [to the the Norwegian embassy in New Delhi on November 19] all the way from the remote Niyamgiri hills of Orissa to express gratitude to the Norwegian authorities for [the Government Pension Fund-Global’s] selling [of] the country’s equity stake in the British-based metal company, Vedanta Resources, on ethical grounds.”

Bloomberg reports that, “Norway’s central bank named Yngve Slyngstad as head of the country’s 1.93 trillion-kroner ($360 billion) pension fund, the largest retirement plan in Europe.”

RGE Monitor discusses Norges Bank’s third quarter results, which were released on Tuesday. Norges Bank is the manager of Norway’s sovereign wealth fund, the Government Pension Fund - Global.

Thomson Financial reports that, “The Norwegian Central Bank said the market value of its massive state pension fund - which saves and invests the oil-rich country’s energy revenues for the future of its citizens - fell in the third quarter, hit by global market volatility.”

The Los Angeles Times writes that, “Norway’s pension fund began life as the Petroleum Fund, but the name was changed in 2005 because it was felt that anything involving oil sounded too much like easy money, while ‘pension’ implied money that should not be squandered.”

Global Pensions reports that, “[Norway’s] Government Pension Fund - Global is to commission a report on investing in real estate.”