01.06.2016 - Norway Oil Fund Adds External Managers
Norway's sovereign-wealth fund, the world's largest by assets, said Tuesday that external organizations are managing more of its money compared with three years ago, as the fund continues to add local expertise in emerging markets. "We want to invest in emerging markets, but we want to invest in the right companies," said Erik Hilde, head of external strategies at Norges Bank Investment Management. "Since inception, the active external equity mandates have generated [annual average] excess returns of 1.7% after fees, compared with local market indexes."..............................................Full Article: Source
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