Norwegian oil fund to double number of company holdings above 5%

first_img“The fund is in a good position to provide capital in special situations such as in relation to initial public offerings, secondary offerings and capital restructurings,” it said.“We will use these opportunities to build larger ownership stakes in selected companies.”It estimated that companies in which it held a stake in excess of 5% would grow from 2013’s 45 to 100 by 2016.It would appear that some of this growth could stem from increased activity in the property sector, as greater involvement with listed property companies was an area identified as important for the fund’s growth.“Larger ownership stakes in listed real estate companies and public-to-private transactions will be considered,” the NBIM’s strategy paper said.”We will prepare the organisation for management of fully owned properties and a more active role in the development of our properties.”Hinting at growth in Asia-Pacific real estate holdings, NBIM said: “In the course of the strategy period, we will also consider investment opportunities in global cities outside Europe and the US.”It also confirmed that London and Paris would remain its focus for European investments, but that holdings outside the two gateway cities would be “selectively extended”.Touching on the recent government announcement that the GPFG would grow its environmentally focused mandates by NOK50bn, the report said areas such as energy efficiency, water and waste management and pollution control could see investment.It added that it would compile a standalone report on its environmental investment activities, with the mandates overseen by both internal and external managers.NBIM said it would maintain its target of having 5% of assets overseen by external managers – an arrangement that currently sees investments in frontier and emerging markets outsourced – resulting in 100 external managers by 2016.,WebsitesWe are not responsible for the content of external sitesNorges Bank Investment Management 2014-16 investment strategy Norway’s Government Pension Fund Global expects to more than double the number of companies in which it owns 5% over the next three years.The NOK5.1trn (€630bn) sovereign fund has also said it plans to grow its direct real estate portfolio, rather than relying on joint ventures, and will begin investing in infrastructure, a new asset class for the scheme.Outlining its investment strategy for the three years to 2016, Norges Bank Investment Management (NBIM) added that it would increase its foreign exchange trading capabilities as it grew the number of foreign currencies to which it was exposed.Addressing its equity strategy, it said the long-term investment horizon of the fund meant it was a natural “anchor investor”.last_img read more

Sumner County judge refuses to reduce bond for Provencio, Reedy; cases continued to May 14

first_imgby Tracy McCue, Sumner Newscow — Sumner County District Judge Scott McQuin denied reducing the bond of Nick Reedy and Sylvester Provencio, both of Caldwell, at their first court appearance hearing Thursday afternoon in Wellington.Nick ReedySylvester ProvencioReedy, 33, and Provencio, 21 are accused of assaulting Gregory Schneider, 53 and Bryan Nispel, 55 of Caldwell on April 22, east of Caldwell. They both face three felony charges including aggravated battery, aggravated robbery and burglary of a vehicle.Provencio and Reedy are currently in Sumner County jail on a $100,000 bond. McQuin denied both men’s request to reduce bond from $100,000 to $50,000 “due to the serious nature of the crime.”McQuin also issued a continuation of the hearing for May 14, at 1:30 p.m.Both Reedy and Provencio appeared in court separately before the judge. They were wearing shackles and prison attire and were escorted in amongst other Sumner County jail occupants, who had court proceedings that day.Reedy was the first of the two suspects to face the judge. Defense attorney Evan Watson, who was hired to represent Reedy, asked to have the bond cut in half for his client in hopes he could make bail so he could help his dad with his home repair business. Watson requested to the judge in order to do so, Reedy should be required to wear an ankle bracelet to track his whereabouts, submit to a drug/alcohol test, and stay in constant contact with his probation officer. Part of the stipulation of the bond is he is not to have any contact with Schneider or Nispel.McQuin was not having any part of it, and kept the bond as is.Later in the day, Provencio faced the judge. Unlike Reedy, Provencio did not have an attorney present.McQuin asked if he wanted a court appointed attorney or hire one himself. Provencio said he is in the process of hiring an attorney, but had not been able to do so. On Friday, his mother, Becky Gonzalez said he has hired Jess Hain, an attorney in Wichita.He then addressed the judge personally and asked to reduce bond from $100,000 to $50,000, so he can help a friend while saving money for attorney fees. Again, McQuin denied his request.Reedy and Provencio are accused of at least three felony and three misdemeanor charges stemming from an alleged assault four miles east of Caldwell of two local men. According to the court complaint affidavit, Schneider and Nispel stopped to assist Reedy and Provencio, who had a white pickup stuck in the mud slightly after midnight.Eventually, a fight took place which eventually led to the two suspects allegedly stealing Schneider’s Cadillac and a wallet inside (see details of the alleged crime here.) Both men suffered injuries from the alleged assault. Schneider suffered from a concussion, ruptured ear drum, severe head and neck trauma, cracked teeth, two broken ribs, bruises over much of his body, cuts and abrasions which required stitches and staples.last_img read more