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$ 1.8TN 31TN Sovereign Funds in Norway make the first investment in the external Hedge funds with increasing billions of dollars
Norges Bank Investment Managementthat runs the giant oil and gas fund and led by former Hedge funds Nicolai Tangen, invested in financial methods with about $ 250mn of other managers.
“We now evaluate long-term European strategies and we,” said Erik Hilde, global head of the nbim outside strategies.
“The marketplace changes” and growing two in terms of the number of small, private managers that nbims can invest, he added.
NBIM’s movement comes as some investors grow older to be careful that equity market valuations look and that a long portfolio of stocks from markets.
Stocks are sold on the global Tuesday among the fear of the effect of Tarko’s trading and President Donald Trump.
Equity long – A strategy pioneering by Alfred Winslow Jones in 1949 – is the oldest type of Hedge fund. Managers prepare stocks in stock they believe is good and against names they believe to fall in price.
Many of these funds have suffered today, however, due to weak performance and such major institutional institutions in the institution that are cheaper, the portfolios are always run.
NBIM, investing in 110 external managers who are only running strategies, say new mandates to bring more flow outside the department outside of benchmarks in each year. Long equity strategies are already running.
Hilde said strategies will be made in separate management accounts. Managers who operate these accounts will choose to fall prices by borrowing stocks held in NBIM portfolio to sell to the market that is not good company market.
Managers will last for stocks “exposed to high valuations, deceitful and uncontrollable business models”, he added.
The company said it did not decide how many orders would give and it would depend on managers who apply them. Fees are mainly based on fund performance. US this is initially targeted with technology managers and health care sectors.
NBIM is looking to invest with smaller, privately managed organizations because they “more often have a higher excess return than larger ones because of a better alignment of interest, a compensation structure strengthening this alignment, retaining and growing talent”, it said.
The company is looking at a variety of equity equity strategies, including balanced short stakes against high bets, and those hidden in rising or falling prices.
Tangen is the main executive of the NBIM since September 2020 and hired from me, the Hedge He built in 2005.
The Sovereign Forge Fund, set up to manage oil and gas revenues, gives annual return of 7.5 percent in the last decade. A bumper year for US technology stocks in the last year helped the fund to achieve a 13.1 percent return.
Over 70 percent of the fund is invested in equities, 27 percent is in constant income and 2 percent of non-hiked land. The fund often asks the government for permission to invest in private markets, a request that is rejected by the country’s financial ministry.
Calum Kapoor is a MandateWire reporter, a news service published by FT Specialist