3/11/2013
Norwegian Oil SWF gains 13.4% in 2012
‘(10 Mar) – Norway’s oil fund, one of the biggest investors in the world, rose in value by 13.4% last year, its second-best performance ever.
The central bank said the fund’s investments in shares jumped by 18.1% in 2012, boosted by soaring equity indexes around the world.
It is now worth 3.8tn krone (£450bn; $670bn), up from 3.3tn krone in 2011….’
This is a snippet that I read posted in TRE. How much did our SWFs made last year? The Norwegians seemed to be doing very well at face value from this report. If the Norwegians are doing so much better than our SWFs, maybe it will be a good thing to learn from them, their strategies, who are their fund managers and where did they invest their funds.
There must be something that the Norwegians are doing right. But numbers are numbers and they can mean all kinds of things and also dependent on accounting practices. At 13.4%, it is still a good number in any count.
Can we borrow some of their fund managers?
Subscribe to:
Post Comments (Atom)
39 comments:
Now that Chavez sudah mati and sekarang dia kena kongkek oleh Syaitan dalam pantat nya sampai koyak, Norway's SWF will probably make more.
Anyway Norway's SWF has to do well. Norway is a socialist cuntree and gives away lots of free shit to the local Viking descendants. Energy is in huge demand, so cuntrees like Norway who have energy surpluses will do well -- they have hydro, gas, oil, plus the kick-arse technology to make it big.
Well done Vikings!
Singapore's SWF is for the elites to play their big-time global corporate games -- for the egotistical pursuits of a select few. Don't kacau them. They are having fun.
If we import their fund managers, who is going to pay HoJinx those million dollar payola above the table?
Red dot's 'Suffering Wealth Fund' is also doing well what. There have been figures like 18% annualised gain being thrown around. How true it is, nobody can verify. Anyway, what does it matter. Good or bad does not benefit Singaporeans as it is the private investment fund of only a select group.
The greatest challenge is reduce wage gap, overpopulation, TFR, high cost of living?
The Norwegians have many things free or subsidised.
Singaporeans are a demanding lot and if it becomes verifiable general knowledge that our SWFs made 18% over the years, we willl want free healthcare, education, housing, transport and food. This will impact on our security as we will have to cut the defence budget and pay our NSFs even lesser allowances and will have to cut our ministers' dignities down to size. So although our SWFs make more, "it is not in our interest" to disclose.
There is nothing wrong to demand free healthcare, free transport, free education because we are born and bred here and we did NS.
@3:18
Spoken like a true PAP minister.
Is a minister visiting red bean blog, or did PAP miss out a talent?
@3:26
Spoken like a true blue awakened Singapore. Definitely not a daft one happy with a pack of chicken rice.
"It is not in our interest" to disclose.
That say it all and confirms the belief that our SWF belongs not to Singaporeans but to a private group of privileged people and therefore there is no need to disclose anything at all.
If Singaporeans are a demanding lot like the Hongkongers or Taiwanese, we would not be what we are today. Submissive, downtrodden, swallowing everything shafted down their throats without a whimper.
and only paying us 2.5% interest on ordinary CPF. they really threat us as dafts. Vote the opposition to stop all these lootings.
What can the impotent oppositions do.
Pray prease tell.
March 11, 2013 3:18 pm - before they have 18% return on swf, norway already providing all those free stuffs for their people. we do not need to cut any budget but just need to tax the super rich a bit more and we will have all those free stuffs. but the papists only want to make lives miserable for the people and make lives better than anything for the super rich. Vote opposition to stop papists from screwing us further.
March 11, 2013 4:02 pm - The oppositions can slap papists.
All sovereign wealth fund works on wrong principal. A country savings should be in the form of gold, instead of stock, real estate, or bonds. Compared to gold, savings in such form carry a high counter party risk.
Sovereign wealth fund are reaction to a world dollar reserve currency standard. Until recently, all central banks help suppress gold. As US power recede, more and more central bank are stocking up gold. A return to the gold standard will do away with useless sovereign fund, and deflate all bubbles in property sector.
How much is spore swf? how much is the return? still will take 50 over years to calculate with today technologies? no wonder productivity remains low. Vote opposition for more transparencies and accountabilities.
Forget about how long it will take to calculate the reserves, since the PAP already said that disclosing the amount will pose a security risk to Singapore and that Singaporeans do not need to know how much the fund returns are.
So for that reason no questions need to be asked since no answers are forthcoming.
The only way to know how much is our reserves is to vote for more opposition in Parliament.
Singapore Sovereign Fund is so mysterious that few understand and know exactly we have or don't have. Not even the President can know how much do we actually have. Imagine that!
anon 5.03pm
Vote for more oppositions? Might as well vote in the opposition. Change gahment. Scared or what ?
Maid not working properly, rude, we change the maid. What for slap and get yourself into trouble? No good, change again until one swee swee one. I m sure redbean will agree.
The only thing we know about Singapore SWF is that it operates out of rented offices and bus loads of employees...same with Temasick..would we be worse off without those funds or would we be better off..what dividends have we received from either entities..would we have fared better if cpf board had entrusted its funds to outside agencies. One thing for sure...we would not have been involved in swf's and temasick learning curve and...tell you ah...the transactions would have been a darn sight more transparent....hehehe
Matilah, are you a virgo?
No one buying me kopi today, getting thirsty oredy : )
Our SWF might be above $1 trillion or much much bigger than we guessed, like the unknown ministers compensation before the discount in 2011. Who know?
Singaporeans actually maybe so rich we no need to work.
Like any rich man son we should work for fun.
Poppies are fun spoilers.
That's why maybe no accountability & transparency. If not cannot justify little welfare benefits to citizens.
That's why maybe only LEEMembers manage the 3 arms of GI noSee, Tummysick & MA arSe.
That's maybe why Engr Ho Jinx can still play play and keep losing billions.
Trust sinkies is not in LeenLee dictionary.
To know the mystery, vote opposition.
The only talking I want to see.
Are the questions being asked in parliament by Opposition MPs.
More Opposition MPs.
More time to ask more questions.
RB, I thought I clicked already. Ok will click now
The problem with a country reserve - if it is low, it is not tempting enough to risk heads and toes to own it and thus the country will end up with more honest gov. if it is too high, it will attract a lot of wrong people including foreigners fighting to own it. The morale of the story is not to have too much reserves. A country should not have too much budget surplus, any surplus should be directed back to the people.
A balance government is crucial, some of the advanced nations, with a few parties systems, each party act as a counterbalance systems with diversified talents.
With a part time system, MP hardly has the time to spend on solving the people problems, they got many appointments and directorships to take care of, so many of them got so tired and busy, have difficulties to attend only once a month parliamentary sessions?
They are less problematic, with good standard of living, low inequalities & good social support systems etc.? The tendency possibly to indirectly tax to pay their wages is virtually non existence?
SO now our economy is shifting from a foreign investments base to a home grown SME, will it be easier for the SME to get all the supports, with less red tape? paper works, in getting the money and the training to upgrade the bosses and training the workers?
If our country is taken over by foreigners, they will take over our reserves and whatever we have built and spend them on themselves. We earned it, they spent it.
Not very right and not very smart isn't it?
redbean:
>> they will take over our reserves and whatever we have built
Logical Fallacy: The Slippery Slope
>> Not very right and not very smart isn't it?
You are not very right, and looking not very smart either. ;-)
Sure you don't mind foreigners taking over everything. We don't really need soldiers or NS too. Just invite everyone here and let them take everything they want.
You very smart indeed: )
You still haven't addressed your logical fallacy. Your argument is still invalid.
No, you don't win by a show of hostile sarcasm, veiled with a smiley face.
Really, you should up your standards. They're lacking somewhat.
:-)
redbean
Foreigners add to our coffers, so that many of our local born local bred (>50%)do not need to even pay tax, and have heavily subsidised hospital care comparable with US standards, what's wrong with that? You are for or against Singapore ?
All these projects and subsidies, all need MONEY. Without coal or gold, where money come from? From you? From the miserable local born local bred whose reproduction is a measly 1.2% ?
Why must sinkies do NS?
What is your understanding of NS?
NS means only soldiering?
All soldiers are loyal and will die for the cuntree?
Everyone that contribute to nation building and being law abiding not doing service to the nation? Only conscripts do service to the country?
Hi anon 10:26,
Yes foreigners add to our coffers. But for the miserable amount, I would say, please keep it and don't add to our problems, inflation and congestion. We don't need that. And robbing our citizens from well paying jobs.
As for taxation, you must understand how Singaporeans are taxed, directly and indirectly. Singaporeans pay one of the highest tax in the world. You sure don't know and don't agree.
Give you an example. $3k income tax a year for 30 years is only $90k. One COE is nearly this amount and if one is to buy 4 cars in a lifetime, it is nearly $400k tax, not including ARF, PARF, petrol, road tax etc etc.
A HDB flat that cost $X is being priced at market many times more for profit even with 'subsidies' like hospital and university fees subsidies. The difference is indirect tax. And there are many forms of indirect taxes that the citizens are paying.
The deadliest one, GST. Everyone pays GST, from a pre birth baby to a dead man. You understand this?
Then CPF is also indirect taxes. Minimum sum is robbery!
50% Singaporean did not pay tax? Where did you come from?
From PRC, Pinoy Land, India, Indon Land.
And it is becos one is fr foreign that one knows how lucky sinkies are.
All can live life of plenty and sleep soundly.
Nonsense lah redbean. Singapore taxes are amongst the lowest in the world. Even the GST is about "average". Many cuntrees higher.
Come and live in Australia for awhile. Then you'll know what "high taxes" really are.
The CPF is the world's best legalised political con game.
The "minimum sum" is simply an amount of money you cannot touch, but just enough to make it "sting", so you keep believing that the money in CPF is actually "yours".
I tell you, as far as a psych experiment goes, the CPF-game illustrates many fascinating aspects regarding human motivation and behaviour.
50 year old scam. Still going strong.
I can't help but stand in awe, and admiration, and so damn jealous I can't have a caper like this going on.
redbean, I have a new one:
The CPF is a perpetual fund by Singaporeans who make regular payments to finance their eventual demise.
:-)
Happy trails, cowboys!
Matilah, your tax logic is wrong. Singapore is really very high in tax (direct and indirect) for the low income class. Come and live in EU for a while and you will know what I mean.
Then why didn't you say so in the first place?
Of course, the lower the income, the heavier the impact of taxes -- it doesn't really matter direct or indirect lah -- fucking academics, never done a real day's work in their life-- just don't understand the real world of money and how it affects the people who usually don't have enough.
Tax is tax. It is YOUR MONEY GOING AWAY: It is the government forcibly relieving you of a portion of your property, to use however they see fit.
Actually the "poor" in Singapore have it pretty darn good as far as taxes go. All they pay is 7% GST, and of course CPF ;-)
Something you might want to take into consideration: those "welfare" cuntrees which hand out the dole to the lazy bums who sponge off everyone else: guess what? The DOLE and any other social welfare payments are TAXABLE AS INCOME.
I don't agree with the idea of progressive taxation. It is grossly unfair to those who are successful.
If you are going to tax, TAX EVERYONE, preferably the same. Doesn't matter whether you are rich or poor -- your fat smelly ass and/ or stinky ji bai occupy the same amount of space in the state's territory. So fuck you, pay the same tax!
Post a Comment