Oil fund's size may affect returns potential, academics suggest

The Norwegian Ministry of Finance should look into what strategies are impacted by so-called dis-economies of scale, according to an academic panel.

Photo: Marit Hommedal/AP/Ritzau Scanpix/AP

A group of academics reviewing Norges Bank Investment Management's active management of the Government Pension Fund Global (GPFG, or the oil fund) submitted its report and suggestions to the Norwegian Ministry of Finance in the beginning of January.

In the report, the experts -- Professors Rob Bauer at the University of Maastricht, Charlotte Christiansen at Aarhus University and Trond Døskeland at the Norwegian School of Economics -- conclude that the fund has had an annualized average net total return of 7.03 percent compared to the benchmark, which has shown an annual return of 6.83 percent.

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