Tuesday, July 1, 2008

Norway’s USD 400bn sovereign wealth fund eyes Egyptian market.

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Norway’s USD 400bn sovereign wealth fund eyes Egyptian market. Norway’s USD 400bn sovereign wealth fund (SWF) said that it targets investment in emerging markets including Egypt . The move comes as the fund wants to benefit from the increasing oil prices which helped it grow by USD 1bn a week. Martin Skancke, director general of the asset management department of Norway ’s Ministry of Finance said that the fund took a strategic decision to buy the benchmark in emerging markets starting with Egypt . Norway ’s fund invested in more than 7000 companies, with an average stake of less than 1% in each of them. Around 60% of the fund is invested in equities, 35% in fixed income and 5% in real estate.

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Securitisation is not dead

Norway’s USD 400bn sovereign wealth fund eyes Egyptian market.

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