Some Sovereign Investors Bullish on Smallcap Euro Stocks

Norway’s Government Pension Fund Global (GPFG) generated a mandate seeking investment managers for small to mid-cap investments in German, French, Italian, and Greek public stocks. Norway’s GPFG currently has higher than average European equity exposure compared to other sovereign funds. In addition, the fund is looking to diversify from its extensive holdings in British stocks. The Norwegian fund is a major owner of many constituents of the FTSE 100.

The need for successful external managers in small-cap European stocks is steadily gaining momentum. Increasingly, buyside public investors have less quality equity research available at their fingertips for small-cap companies especially in Europe. Several large banks have dropped analyst coverage over stocks, reducing costs and headcount.

There is a calling for external managers who are in touch with European small businesses and industries.

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