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First Fondene in protest against "analyst massage" in Norway

Thomas Nielsen from Norwegian asset manager First Fondene criticizes listed companies for making phone calls to individual analysts before publishing their quarterly reports. In his opinion, the early information gives the analysts a headstart.

First Fondene Portfolio Manager Thomas Nielsen. | Photo: PR

Four times a year, prior to the season for publishing quarterly reports, it is common for listed companies' investor relations departments to make a number of calls to Norwegian analysts, offering a review of the relevant quarter. This practice is often referred to as "analyst massage", reports local business newspaper Finansavisen.

"Often companies call up analysts to let them know that their expectations are off, most often too high. They try to hide this, referring to the information as public information that the analysts have not paid attention to," Portfolio Manager Thomas Nielsen from asset management company First Fondene says in an interview with Finansavisen.

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