VFF report: The investment industry's credit risk must be balanced out before the next crisis

The Covid-19 crisis was a hard blow for Norwegian asset managers. The resulting returns that grew out of the fact that the AMs have recently taken on more credit risk from the banks generated a crisis of its own. Now the industry calls for changes that can improve the handling of the next crisis.

DNB Asset Management's Head of Absolute Return Investments Anette Hjertø | Photo: PR / DNB AM

According to DNB Asset Management's Head of Absolute Return Investments Anette Hjertø, asset managers and the investment industry have taken over a large risk portion from banks in recent years.

This development occurred because Norwegian businesses are increasingly seeking finance through the bond market. Simultaneously, many liquid assets are placed in short-term fixed income funds, thereby partly replacing the function that a bank deposit would have had.

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