ノルウェイ政府年金基金は、5023億5200万0000ユーロの資金を持ち、スペインの国債には2012年に36%減の15億7000万0000ユーロを投資、2011年には40%のスペイン国債からの引き上げ
El fondo soberano noruego reduce un 36% su exposición a la deuda española
La entidad ya había recortado un 40% su exposición a los títulos del Tesoro durante 2011
EP Oslo 15 AGO 2012 - 12:43 CET
The Norwegian sovereign fund reduces its exposure to 36% Spanish debt
The bank had already cut 40% exposure to Treasuries in 2011
Oslo EP 15 AGO 2012 - 12:43 CET
The Government Pension Fund of Norway (NBIM for short Norwegian), the second largest global sovereign fund with a capital of 3.65 billion Norwegian kroner (502.352 million euros), only surpassed by the Abu Dhabi , had at the end of the second quarter of 2012 with a portfolio of Spanish sovereign debt amounting to SEK 11,500 million (1,570 million euros), which implies a fall of 36% so far this year from its exposure to sovereign bonds Spain.
In fact, the fixed income portfolio NBIM the end of second quarter finds an acceleration in cutting their exposure to Spanish debt over the first three months of the year, as investments in sovereign bonds of Spain was 26% lower than the end of the first quarter, when the company had a 13.4% cut in its debt portfolio Spanish about the situation at the end of 2011. Over the past year, the reduction was 40%.
The fund lowered its exposure to the debt of Spain, France and the UK and increased in the U.S., Germany and countries such as China, Brazil and India
In this sense, the Norwegian, that already in the first quarter had disposed of its entire portfolio of sovereign bonds of Portugal and Ireland, said that between April and June infraponderó their exposure to sovereign debt of Spain, France and the United Kingdom, while increased its portfolio of U.S. bonds, German and emerging countries such as China, Brazil and India.
"The sovereign bond yields in countries like the U.S., Germany and UK fell to record levels in the quarter as investors sought safer havens for their investments, while in contrast, the bond yields of Italy and Spain rose to the growing concern over potential sovereign defaults, "the entity.
The major sovereigns in Norwegian fund's portfolio at the end of the second quarter were U.S., with 310.351 million kroons (EUR 42.644 million), Japan, with 85,580 million crowns (11,760 million euros), the United Kingdom, with 81,538,000 of crowns (11.204 million euros), France with 70.891 million kronor (9,740 million euros) and Germany with 57.773 million kroons (EUR 7.932 million).
Thus, the Fund distributed its investment in bonds from a total of 4424 different debt instruments issued by a total of 1,247 issuers under the 4717 securities issued by issuers in the first quarter 1322. Investment in these assets had an average duration of 5.6 years and a yield of 2.4%.
Barclays, the less profitable value
As for investment in equities, NBIM said that the end of the second quarter was spending 49% of their investments to European values and 36% in stocks from America, Africa and the Middle East, while 15% was placed in stocks Asian companies and Oceania. Specifically, the equity portfolio of the Norwegian fund consisted of shares held by 7803 listed companies, compared with 7957 listed companies which attended the first quarter.
Among these values, which had worse outcomes in equity markets during the second quarter were the shares of Barclays, followed by the titles of German engineering group Siemens and British gas company BG Group. In contrast, the best results were registered shares in the British mobile operator Vodafone, followed by AT & T and British drugmaker GlaxoSmithKline.
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