Norway wants its wealth fund to stop adding emerging markets
The world's biggest sovereign investment vehicle should follow a revamped set of guidelines that could result in a 25-30 percent reduction in the number of companies it holds, Finance Minister Jan Tore Sanner said in a speech on Friday.
By Lars Erik Taraldsen, Ott Ummelas and Stephen Treloar / BLOOMBERG
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Two years ago, KLP Kapitalforvaltning accounted for 4 percent of inflows to Norwegian retail funds. Now, its share is 17.6 percent. "It's been a dramatic change," says CEO Håvard Gulbrandsen, who thinks sustainable funds, low prices and new dynamics in the Norwegian retail market are responsible.
The Swedish Pensions Agency has been busy recently, with a first foray into real estate and new terms and conditions for its fund platform meaning lower fees for savers. Fund department chief Erik Fransson also discusses whether going fossil free has had an impact on returns.
Five new guidelines aim to create more transparency about how Danish pension funds asses the value of unlisted assets – but according to several pension firms, they already live up to these principles.