Norway’s Oil Fund Posts Lower Gains

Norway’s sovereign wealth fund suffered its smallest quarterly gain in a year, foreshadowing this month’s global stock rout amid concern U.S. and European economic growth is stalling.

The $534 billion Government Pension Fund Global returned 0.3 percent, as measured by a basket of currencies, in the second quarter, the Oslo-based investor said today. The stock portfolio fell 0.7 percent and its bonds holdings rose 1.8 percent. It was the worst performance since a loss in the second quarter of 2010.

Abu Dhabi Fund Sued by Madoff Trustee

The court-appointed trustee recovering money for investors cheated by Bernard Madoff sued Abu Dhabi's sovereign-wealth fund on Thursday seeking $300 million.

The lawsuit, filed by Madoff trustee Irving Picard in U.S. Bankruptcy Court in Manhattan, is seeking to recover transfers allegedly made to Abu Dhabi Investment Authority by Fairfield Sentry, a Fairfield Greenwich Group feeder fund.

GDF Suez Nears $4 Billion Deal With Chinese Sovereign Wealth Fund

PARIS — The French utility GDF Suez and China’s sovereign wealth fund said Wednesday that they were in exclusive talks to seal a $4 billion alliance that would help GDF finance its expansion in Asia and offer Beijing access to new energy resources.

GDF outlined the details of the partnership, its second large deal in a year, after the purchase of 70 percent of International Power, as it reported earnings for the first half of 2011 that beat forecasts.

Hedge Funds Standards Board looks to attract US and Asian managers

The UK-based Hedge Funds Standards Board (HFSB) is seeking to sign up more US and Asia-based managers to its best practice protocols.

The UK-based Hedge Funds Standards Board (HFSB), established in 2008 to develop and promote a set of voluntary hedge fund standards drawn up by a group of 14 predominantly UK-based hedge fund managers, is now aiming to attract managers from the US and Asia.

Chinese funds turn to foreign investors

Chinese fund companies are exploring opportunities to raise assets from qualified foreign institutional investors (QFII) as the retail fund market in China continues to stagnate. However, QFII assets have not been easy to come by, as many QFII managers are not in need of mainland-based investment advisers.

Assets under management in China's retail investment funds have fallen from a peak of Rmb3,000bn ($466bn) in 2007 to Rmb2,300bn as of June 30, according to Shanghai-based consulting firm Z-Ben Advisors.