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International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 16:51

Norway’s oil fund doubles investment in Lithuanian government bonds in 2015

BC, Vilnius, 10.03.2016.Print version
Norway’s government pension fund, which is often referred to as the Norwegian oil fund and is one of the biggest global institutional investors, last year doubled its investment in Lithuania’s government securities but reduced its shareholding in Lithuanian-owned aircraft leasing, management and trading company AviaAM Leasing, Norges Bank Investment Management (NBIM), the manager of the fund, said on its website, cites LETA/BNS.

The fund’s investment in Lithuania’s government securities amounted to nearly 1.661 billion Norwegian kroner (EUR 176.8 mln) at the end of 2015, up from 711 million kroner (EUR 75.7 mln) a year before.

 

The fund first purchased Lithuania’s government securities back in 2007 and since then continued to invest in those papers each year, except 2008.

 

In 2013, the fund invested 20 million kroner (EUR 2.3 mln) in Warsaw-listed AviaAM Leasing. However, that investment was cut by half last year, to 10.326 million kroner (EUR 1.1 mln). As a result, the fund’s shareholding in the company decreased to 2.45%.

 

The fund has not made any investment in Latvia or Estonia. In Poland, it holds a 3.5% stake in transport infrastructure construction group Trakcja, which owns Kauno Tiltai (Kaunas Bridges), the Baltics’ largest road and bridge construction firm.

 






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