Norway to ditch oil stocks from Norges Bank fund – Central Banking

Norway’s government has asked the central bank to sell any oil stocks held in its sovereign wealth fund, after a review concluded this would reduce the economy’s exposure to oil price risk.The Government Pension Fund Global, managed by Norges Bank, is built on the revenues from Norway’s oil industry. But by investing in stocks related…

Mark Gilbert Has Forgotten the Meaning of Capitalism

On Bloomberg, Mark Gilbert asks: Should the investment arm of one sovereign nation be using its financial muscle to influence salary policies in other sovereign nations, setting principles which then guide how it votes in particular examples? It isn’t surprising that he gets the wrong answer, calling the sovereign wealth fund’s votes against excessive compensation…