Starting next year, the Oslo-based fund plans to have external managers, including hedge funds, handle up to 5 percent of its portfolio, equivalent to just over USD 60bn. That compares with 3.9 percent at the end of 2019, and about 4.4 percent in late October.
Nicolai Tangen, the fund’s 54-year-old CEO since September and a former hedge fund manager, told Bloomberg earlier this year he’s keen to step up reliance on external managers because he thinks it’s a strategy that can "generate a significant surplus return."
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