All posts in Asset Management

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NBIM Discussion Note on High Frequency Trading

On 16 October, Norges Bank Investment Management (NBIM) published a discussion note on high frequency trading. According to NBIM, the purpose is to shed light on this wide-ranging topic from an asset manager’s perspective. The discussion note can be read by clicking here.

Nibor Fixing

NBIM Signs Co-Investment Program

In a press release dated 15 October, Norges Bank Investment Management (NBIM) informed that it has signed a co-investment programme with AXA Real Estate, acting on behalf of various AXA insurance companies, targeting investments in senior secured performing commercial real estate loans in Europe. AXA Real Estate will manage the portfolio on behalf of the parties.

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Norwegian politics take a turn to the right with new rightwing coalition government – new possibilities for many market players

On October 16, Norway’s Conservative Party leader Erna Solberg and Progress Party leader Siv Jensen presented a new minority goverment after winning the September 9 election with support from allies in the Parliament. The government took office on 12 noon October 16, with Solberg as Prime Minister and Jensen as new Minister of Finance. The coalition has presented a 75-page platform revealing how it plans to rule Norway over the next four years. Some highlights of particular interest for foreign market players are presented below.

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The Ministry of Finance introduces a new collective retirement pension product for the private sector

On 4 October, the Ministry of Finance presented a draft Bill with a new collective tax favourable retirement pension product for the private sector. The new product will be a third alternative to the two other (main) types of tax favourable occupational pension schemes that can be established under Norwegian law.

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Oslo Børs to Undertake NIBOR Fixing from 9 December 2013

On 19 September, Oslo Børs announced that it will undertake NIBOR fixing with effect from 9 December 2013.

Storting in Norway

AIFMD Update – Norwegian implementation further delayed

Norwegian authorities failed to implement AIFMD within the transposition deadline of 22 July 2013. While it has been generally believed that AIFMD would be implemented within 1 January 2014, sources within the Ministry of Finance have unofficially informed us that the Bill will not be suggested until (late) 1Q 2014.

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Norwegian Covered Bonds Market

Finance Norway (FNO) has issued a leaflet called “The Norwegian Covered Bonds Market”.

AIFMD

AIFMD Update – Marketing of AIFs In Norway

Norwegian authorities failed to implement AIFMD before the deadline of 22 July 2013. Implementation in Norway is not likely to take place before 1 January 2014.