41) The Norwegian Fund (NBIM) invests 27% more in Spain

by Javier Carro

Topics: Economy


The largest sovereign fund in the world has 16.530 million euros (USD 20,183 million) invested in the Spanish market, according to the annual report presented by Yngve Slyngstad, Manager of Norges Bank Investment Management (NBIM). 63% of the investment corresponds to its presence in the stock market, around 10.376 million euros (USD 12,110 million), 30% more than in 2016. At the end of 2017, the fund, that invests the profits that the Nordic country obtains from its oil and gas resources to guarantee the future pensions of its citizens, was present in 84 Spanish listed companies. 

Its biggest investment is Santander. The fund has increased from 1,73% to 2,09% its participation in the entity chaired by Ana Botín, valued at 1.885 billion euros.

Inditex led by Pablo Isla, is his third Spanish bet. It maintains its percentage, which is worth 856 million euros, followed by Telefónica (José María Pallete) and BBVA (Francisco González).

In construction, it reduces its percentage in OHL from 1,39% to 0,8%, it lowers it slightly in Acciona and Ferrovial and raises it in FCC. The participation increases have been concentrated in Sacyr, where it doubles its package, placing it at 1,7%, and at ACS (Florentino Pérez) where it currently has 2,16%, compared to 1,1% a year ago, valued at 225,8 million euros.

The Fund participates in 9.146 companies, located in 72 countries, where it has an average percentage of 1,4%. Last year it achieved a profitability of 13,7% of its investment (6,1% since its creation in 1998), placing its value at 880.600 million euros.


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