The Government Pension Fund Global (GPFG), started 23 years ago with the first inflow of NOK2bn from the Norwegian Ministry of Finance, has now surpassed NOK10trn (€0.9 trn) on 25 October.
And even 72% in the US, according to an OECD review of the world’s 41,000 listed companies.
Investors are increasingly turning to private assets, spurred by geopolitical concerns and fears of an economic slowdown, according to Schroders Institutional Investor Study 2019.
Two large Dutch pension funds – PFZW and ABP – revealed that pension reductions are inevitable by 2020, with low interest rates increasing liabilities.
The Swiss group plans to apply a negative rate of -0.75% for wealthy clients with deposits over CHF 2m.
Oslo’s municipal pension fund (with €10bn of assets) has stepped up its climate objectives, as prompted by the city council. Its Chief Executive Officer explained the details at Agefi’s Global Invest Forum.
Robeco will advise Pensioenfonds ING, the Dutch corporate pension fund with an invested capital of €28bn, on ESG issues.
PKA now tallies 70 oil and gas firms and 71 coal companies on its negative list.