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Norwegian oil fund continues to increase investment in Sweden

Wednesday, 10 July 2013
The Norwegian oil fund continues to increase its investments in Sweden and has now expanded its ownership in the Swedish property company, Wihlborgs.

Norway's oil fund is the largest fund and thus belongs to the region of the absolute heavyweights when it comes to institutional investors. In early July the Fund flagged for the first time that it was upping by more than 5 percent its shares in Scania based property company Wihlborgs .

"It's a quality stamp for us. They are long term and I am very happy that they are looking at us, "says Anders Jarl to Swedish business daily, Dagens Industri.

The Oil Fund in recent years gradually increased the number of shares in Wihlborgs. Two years ago the fund was holding only half as large as today.
With the latest deal, the Fund is strengthening its position as the second largest shareholder in Wihlborgs after the company, Brinova which is so far unchallenged one with 10 percent of the shares.

The Norwegian giant fund has so far been relatively passive investors. However, it is about to change. In an interview with the Financial Times in April, the fund's CEO Yngve Slyngstad said that Norwegians will become more active owners.

In addition to its holding in Wihlborgs Norwegian, oil fund is also a major shareholder in several of the giants on the Stockholm Stock Exchange, including Astra Zeneca, ABB and Volvo AB.
by Scancomark.com Team