UPDATE – Norway’s Sovereign Wealth Fund Seeks to Double Sector Specialists
Norway’s Government Pension Fund Global (GPFG) is growing professional staff in its internal equities department, leading a major trend occurring in large sovereign wealth funds to minimize external manager costs. Sovereign wealth funds like Singapore’s GIC and the Abu Dhabi Investment Authority follow a similar strategy of spending internal resources on in-house management. Equity portfolio managers at Norges Bank Investment Management (NBIM) have specialized industry mandates. These sectors range from listed infrastructure to U.S. banks. As being the world’s largest sovereign wealth fund, the sovereign fund wants to cultivate in-house expertise by recruiting more sector specialists, possibly doubling from its current size.
Investment Returns -Asset Class – Norges Bank Investment Management
|Year||Equity Portfolio Returns (%)||Fixed Income Portfolio Returns (%)|
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