The central bank Norwegian increases its position on CMC Markets
The central bank Norwegian Norges increases its position on CMC Markets 4%
The bank Norwegian Norges Bank has increased its position on CFD broker CMC Markets at 4%, which is Norges one of the main shareholders of CMC Markets. The participation of Norges Bank consists of 11,73 million shares, with a value of approximately 13.2 million pounds (16.3 million dollars).
Why a central bank takes a position on a publicly traded company like CMC ?
While having the traditional responsibilities of the central bank of Norway, as the price stability, Norges Bank also manages The Government Pension Fund of Norway, one of the largest sovereign wealth funds in the world which manages $ 900 billion.
A separate unit, Norges Bank Investment Management, manages the operational management of the fund, which includes equities, fixed income and real estate not listed.
Originally known as The Petroleum Fund of Norway, the main role of the fund is to invest the surplus wealth generated by the oil income in norway.
Despite the strict new rules proposed by the FCA to regulate Forex trading and CFD trading, Norges Bank is not the only investment fund in the world that is betting on the actions of dealers in the uk. BlackRock – the largest asset manager in the world – has recently taken on a position of 10 % on IG Group. Morgan Stanley has increased its position on the CFD broker uk Plus500 to 6.5%, while the investment manager of british Odey Asset Management LLP, which has long held a significant stake in Plus500 has increased its position to more than 23%.
CMC Markets became public in February 2016 at a price IPO 2.40 £ per share. The shares are now at about half of this figure.