http://www.bloomberg.com/news/2011-06-20/norway-oil-fund-confident-euro-survives.html
The chief executive officer ofNorway’s $570 billion sovereign wealth fund said the European Monetary Union, which consists of 17 countries sharing the euro currency, will survive amid increasing doubts that Greece will avoid becoming the first member to default on its debts.
SS says
In my view - he is wrong on this one.
“We have proportionally a much higher stake in Europe than in the rest of the world,” Slyngstad said. “There are not a lot of market participants who expect the euro to break up and we don’t expect that either.”
SS says
Lemmings dont think - they just follow.
Norway’s wealth fund, which has 60 percent of its bond holdings invested in Europe, has a “huge vested interest in the success of the euro,” he said.
SS says
We will see their report card in 2015.
They messed up big time in 2008 as well.
So they do have a track record.
Norway’s oil fund is Europe’s biggest equity investor and got its first capital infusion in 1996. It’s mandated to hold 60 percent in stocks, 35 percent in bonds and 5 percent in real estate in rules set by the Finance Ministry. The fund first moved into stocks in 1998, added emerging markets in 2000 and this year bought real estate to lift returns and safeguard the wealth of the world’s seventh-largest oil exporter. The fund invests outside Norway to avoid stoking inflation.
The chief executive officer ofNorway’s $570 billion sovereign wealth fund said the European Monetary Union, which consists of 17 countries sharing the euro currency, will survive amid increasing doubts that Greece will avoid becoming the first member to default on its debts.
SS says
In my view - he is wrong on this one.
“We have proportionally a much higher stake in Europe than in the rest of the world,” Slyngstad said. “There are not a lot of market participants who expect the euro to break up and we don’t expect that either.”
SS says
Lemmings dont think - they just follow.
Norway’s wealth fund, which has 60 percent of its bond holdings invested in Europe, has a “huge vested interest in the success of the euro,” he said.
SS says
We will see their report card in 2015.
They messed up big time in 2008 as well.
So they do have a track record.
Norway’s oil fund is Europe’s biggest equity investor and got its first capital infusion in 1996. It’s mandated to hold 60 percent in stocks, 35 percent in bonds and 5 percent in real estate in rules set by the Finance Ministry. The fund first moved into stocks in 1998, added emerging markets in 2000 and this year bought real estate to lift returns and safeguard the wealth of the world’s seventh-largest oil exporter. The fund invests outside Norway to avoid stoking inflation.
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