Norway Sovereign Fund Up 26% last year. Temasek sucks.

[Papsmearer]

Norway oil wealth fund has best year ever in 2009
Norway's oil wealth fund posts record 25.6 percent return on investment in 2009


OSLO (AP) -- Norway's vast fund for oil wealth posted a 25.6 percent return on investment for 2009 -- its best ever -- as international markets recovered from the global financial crunch, the central bank said Friday.

Norges Bank reported that the fund gained 613 billion kroner ($103.4 billion) on investments. That's the best result since Norway established the sovereign wealth fund in 1996 to invest surplus oil revenue abroad and avoid overheating its domestic economy.

The Government Pension Fund-Global, commonly referred to as the oil fund, grew 16 percent during 2009 to 2.64 trillion kroner ($445.3 billion) from 2.28 trillion kroner in 2008, when the fund posted its worst result ever -- a loss of 23 percent. A strong krone reduced the fund's market value, Norges Bank said.

Yngve Slyngstad, the fund's senior manager, attributed this year's result to improvements in international markets, in particular "the fixed income markets that stopped working during the financial crisis."

"Developments in 2009 must, in the same way as 2008, to a large extent be viewed in light of the financial crisis. The fund's long-term management strategy ensured that we got through this period in a good way," said Slyngstad.

At the end of 2009, the fund's average holding in international equity markets was 1 percent and 1.8 percent in European markets. Slyngstad has said that Norway's oil fund is probably the largest equity investor in Europe.

The fund typically invests about 60 percent of its capital in more than 7,000 publicly traded companies worldwide, with the remainder in government-backed bonds.

Norway, with a population of 4.8 million people, is a major oil and gas exporter.

We know Temasek losses are well documented. Its interesting to note that Norway diversifies its portfolio in 7000 companies worldwide. But not temasek, which seems to invest large amounts in small numbers of companies. In addition, the Norway Prime Minister earns only 700,000 Kroners, or $165,800 SGD. Can we say corruption coupled with poor performance in S'pore?

 

[singveld]

i being to norway. it is a very nationalist country, they dun get cheap labour to come to their country at the expense of their citizen. one thing i dun like about norway, city to city travel need to take many ferries. i hate ferries.

 

[ChaoPappyPoodle]

Norway oil wealth fund has best year ever in 2009
Norway's oil wealth fund posts record 25.6 percent return on investment in 2009

...

We know Temasek losses are well documented. Its interesting to note that Norway diversifies its portfolio in 7000 companies worldwide. But not temasek, which seems to invest large amounts in small numbers of companies. In addition, the Norway Prime Minister earns only 700,000 Kroners, or $165,800 SGD. Can we say corruption coupled with poor performance in S'pore?

When you make large purchases, you get to act like a big shot and receive all the glamour associated with being a major owner in a large company. You also can pay yourself large sums of money because it takes a lot of brains to invest large sums of money.

Our reserves have been ill-used for all the wrong reasons by all the wrong people for far too long. The PAPies actually spent more buying into banks and companies overseas than trying to resolve the economic problem here.

This is totally absurd. But I am hopeful that Singaporeans will take this as a lesson in terms of the priorities the PAPies have and how Singaporeans fit into the entire scheme of the PAP machinery.

 

[Papsmearer]

i being to norway. it is a very nationalist country, they dun get cheap labour to come to their country at the expense of their citizen. one thing i dun like about norway, city to city travel need to take many ferries. i hate ferries.

U hate ferries...............ok. Don't go to Norway than.

 

[boundThunter]

Our reserves have been ill-used for all the wrong reasons by all the wrong people for far too long. The PAPies actually spent more buying into banks and companies overseas than trying to resolve the economic problem here.

It is really poignant when it strikes home. For those amount of money buying into "branded" goods, the whole country's welfare system could be overhauled and enhanced and no one is really left behind.

They lusted after the 15 minutes fame and now they are famous for another reason.

 

[Papsmearer]

When you make large purchases, you get to act like a big shot and receive all the glamour associated with being a major owner in a large company. You also can pay yourself large sums of money because it takes a lot of brains to invest large sums of money.

Our reserves have been ill-used for all the wrong reasons by all the wrong people for far too long. The PAPies actually spent more buying into banks and companies overseas than trying to resolve the economic problem here.

This is totally absurd. But I am hopeful that Singaporeans will take this as a lesson in terms of the priorities the PAPies have and how Singaporeans fit into the entire scheme of the PAP machinery.

I am afraid its worse than that. There are rumours swirling around that MM Lee Con You has overiding authority over all Temasek Investment decisions. So, really their high paid investment anaylist are useless. If they don't recommend a company to buy, Con You can order them to buy it anyway. I think this is what happens in some of their bank buys.

Also, brokers approach Temasek all the time and offer up companies for them to buy. They wine and dine Ho Jinx, suck up to her, and eventually they unload their shit companies on her regardless of any anaylsis. They get a nice fat commission, and she gets some kickbacks which she spreads back to the Lees.

Another rumour is they are approached by companies in trouble, like Merrill Lynch, and than sweet talked into the buying stocks. Again I am sure some form of kickback is involved.

 

[scroobal]

I was told by an expat that Temasek operates like a typical chinese towkay - deals with friends and acquaintances. Thus when a business contact, friend or former partner comes knocking for assistance, they will help. Does not operate along professional lines. Apparently they have a 100% record of agreeing to assist.

Take the case of UBS, Citibank, Morgan Stanley etc. All down the drain. Barclays has very little relationship and they jettison the shares at the wrong time. It did not occur to them that Barclays was one of the few giants that did not need govt assistance during the crisis.

We know Temasek losses are well documented. Its interesting to note that Norway diversifies its portfolio in 7000 companies worldwide. But not temasek, which seems to invest large amounts in small numbers of companies. In addition, the Norway Prime Minister earns only 700,000 Kroners, or $165,800 SGD. Can we say corruption coupled with poor performance in S'pore?

 

[ahleebabasingaporethief]

Bro in all my criticisms of the SCUMS I have never ever thought of the things you mentioned in your post.

ARE YOU SURE? IF SO,

THIS IS INDEED SERIOUS.
​

I am afraid its worse than that. There are rumours swirling around that MM Lee Con You has overiding authority over all Temasek Investment decisions. So, really their high paid investment anaylist are useless. If they don't recommend a company to buy, Con You can order them to buy it anyway. I think this is what happens in some of their bank buys.

Also, brokers approach Temasek all the time and offer up companies for them to buy. They wine and dine Ho Jinx, suck up to her, and eventually they unload their shit companies on her regardless of any anaylsis. They get a nice fat commission, and she gets some kickbacks which she spreads back to the Lees.

Another rumour is they are approached by companies in trouble, like Merrill Lynch, and than sweet talked into the buying stocks. Again I am sure some form of kickback is involved.

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[Papsmearer]

Bro in all my criticisms of the SCUMS I have never ever thought of the things you mentioned in your post.

ARE YOU SURE? IF SO,

THIS IS INDEED SERIOUS.
​

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Are u so surprised meh? There are so many examples. HPL condo fiasco. Father and son can buy 4 multi million dollar condo in one year (this is before they received million dollar salaries) for large discount. Lau Goh ask MAS to investigate them and than of course clears them. Instead of using CPIB.

Lee and Lee law firm domination of the conveyancing market for new HDB flats for 30 years. 1 million flats build, 800,000 for sale, Lee and Lee 90% of this market, inflation adjusted $1000 per deal = $1000 X 720,000 = $720 million dollars thru the years.

Teh Cheang Wan bribery incident.

SIA prepares a jet at millions of dollars to fly the MM's wife back on a non emergency medical basis and at the taxpayer's expenses.

the list goes on. Some of these companies bought by Temasek are so bad, one has to wonder why they would even buy it at that juncture in time, hence, there is only one logical conclusion, and that there is some other form of compensation somewhere.