Norges Bank Investment Management (NBIM), manager of Norway’s Government Pension Fund Global, has opened a Singapore office, to be closer to its Asian investments it said. It is the second Asian office of the fund manager. It has an office in Shanghai. The fund is the world’s most transparent SWF and pays “peanuts”, but in the crisis outperformed GIC, Temasek, and others.
Shows S’pore is still a major East Asian financial centre despite being overshadowed by Shanghai and HK when it comes to listings, and KL when it comes to Islamic finance.
Update — Story rewritten from original. Too many silly mistakes in original. Sorry.