FLORENCE, Wis. A budget amendment of $82,839 to allow the purchase of radios for the Florence County Sheriff”s Department was approved this week, despite
By Rachel Fixsen2020-12-10T15:18:00+00:00
Norway’s sovereign wealth fund manager has described in a new report how its securities lending activities have evolved over the years to squeeze the best returns possible from providing a service that has become cheaper every year.
In a new historical report on its experience of 20 years investing in equities, Norges Bank Investment Management (NBIM), which manages the NOK11trn (€1trn) Government Pension Fund Global (GPFG), said it had generated NOK34bn for the GPFG from securities lending, or 8.4 basis points a year since 1999.
But since 2008, it said, the annual contribution had been declining, as the demand for equity borrowing from hedge funds had fallen and the securities lending industry became more competitive.