Norway’s $1 trillion wealth fund is about to change dramatically
More people raise questions as it has surpassed 1 trillion dollars in market value. The Norwegian government is currently looking at a proposal to separate out the gigantic fund, now managed by Norges Bank Investment Management, from the central bank. “With a separate board you’ll be able to appoint professional people who really understand asset management, and who can have the necessary critical attitude toward the fund’s management,” says Knut Anton Mork, a professor at the Norwegian University of Science and Technology. A newly proposed change in investment strategy is also a cause of concern among top academics in Norway. They argue that the managers of the fund take too much freedom and jeopardize the wealth of future generations of Norwegians.
- Business Insider Nordic -