Norway’s Sovereign Wealth Fund Hit by Scandal
Norges Bank investigates outgoing CEO’s flight on luxury jet paid for by incoming CEO before his hiring.
Pension giant’s 10-year return down over 2% after $112 billion first quarter loss.
Norges Bank Investment Management also deliberates eight candidates for CEO job.
Yngve Slyngstad to step down after 12 years running the $1.09 trillion fund.
Yngve Slyngstad, who manages the money of the world’s largest sovereign wealth fund, thinks environmentally minded rules may hurt returns.
Bank cuts companies that derive 30% income or power from coal.
Hiro Mizuno of GPIF is calling for RFPs to create a new global environmental index.