19.03.2012 - Norway fund halves its exposure to external fund managers
The Norwegian Government Pension Fund, Europe's biggest pool of sovereign wealth, has halved its exposure to external fund managers in the past year from about 37.5bn to about 19bn, terminating eight firms in the process, as it transferred money to internal staff and allocated to small specialist external boutiques. During 2011, the fund said, it terminated 18 external investment-management contracts and began eight new ones, all for equity management, targeting specific sectors or countries...............................................Full Article: Source
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