New mandates for management of equity portfolios in the Government Petroleum Fund
Norges Bank has today announced new mandates for management of equity portfolios in the Government Petroleum Fund. Mandates have previously been allocated to 14 external managers, 10 of whom are engaged in management of equity portfolios.
The mandates that have been announced are for three main types of equity management:
- Active management within four selected sectors
- Indexing with active strategies for achieving an excess return (enhanced indexing)
- Active management of portfolios of small and medium-sized businesses
The mandates will be for different countries and regions, but some will cover markets in all countries in which the Petroleum Fund may invest. Clear limits to the risk that may be taken relative to defined benchmark indices will apply to all mandates. The size of the mandates will vary from USD 100 million to USD 500 million. Deadlines for applications range from 7 January 2001 to 1 February 2001.
Contact:
Press telephone: +47 21 49 09 30
Email: presse@norges-bank.no