The Norwegian fund controls more than 8,000 million in IBEX companies

The Global Pension Fund of Norway, destined to invest abroad the income generated by gas and oil, controls stakes in the large companies of the Spanish Stock Exchange for a market value of over 8,000 million euros.

The participation with the highest value is that held in Iberdrola, where Norges Bank - the entity that manages the largest sovereign wealth fund in the world - controls 3.06% of the capital, equivalent to 1.8 billion euros at the end of last December 24 , according to market data.

In the electricity company, it is the third largest shareholder, behind Qatar Investments, which controls 8.57% of the capital, and the US fund Blackrock, with 5.07%.

It is followed by 1,610 million euros for 2.58% of Banco Santander, in which the Norwegian fund is also the third largest shareholder, after Blackrock, which is the first with 5.08%, and also the American fund Vanguard , holder of 3% of the bank of Cantabrian origin.

Norges' stake in Telefónica, 2.88%, places it as the fourth largest shareholder of the telecommunications operator, with a value of its position at December 24 of 959 million euros.

In fourth place is the participation of the Norwegian sovereign wealth fund in Amadeus, since it holds 2.88% of the capital, which is worth 915.5 million euros. It is the seventh largest shareholder.

In BBVA, it controls 2.61% of the capital, whose value reaches 881 million euros, which makes Norges the third largest shareholder, only behind the Blackrock and Vanguard funds.

In Inditex, it controls 0.62% of the capital for 614 million euros, which places it as the seventh largest textile shareholder based in Arteixo (A Coruña).

In the Aena air navigation manager, the Norwegian fund owns 1.62%, for a market value of 422.5 million euros, and also here it is the seventh largest shareholder.

In Repsol, Norwegians control 1.50% of the capital, with a market value of 324.3 million euros and also in a seventh position in the classification of shareholders.

In the construction company ACS they are the fourth largest shareholder, with 2.74% of the capital for a value of 312.6 million euros, and in Naturgy they control 0.93% of the shares, for an amount of 208.8 million euros, which place him as the ninth largest shareholder.

The latest data published by the fund reflect that in the first nine months of 2019, it made a profit equivalent to 120,000 million euros, well above the almost 16,600 million in the same period of the previous year.

The Norges Bank Investment Management (NBIM) is the unit of the Bank of Norway that manages the fund, which invests in more than 9,000 companies in 73 countries, and that as of September 30 had a value of 950,000 million euros.

It invests 69.1% of its funds in shares, 28.2% in fixed income and 2.8% in real estate.

The United States, Japan and Germany remain the three main public debt markets of the fund, while Spain is the sixth and, Mexico, the eighth.

The following table shows the main investments of the Norwegian fund in the IBEX 35 companies, including the percentage of capital they control and their current market value:

EMPRESAPARTICIPACIÓN (%) VALUE (millions) Iberdrola3,061,800Santander2,581,610Telephonic2,88959Amadeus2,88915.5BBVA2,61881Inditex0,62614Aena1,62422.5Repsol1,50324,6ACS2,74312.6Naturgy0,93208,8TOTAL


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