Rare praise for active managers as two decades of returns have "exceeded expectations by a good margin", says NBIM
External asset managers have played an important role in fulfilling the oil fund’s mandate to get the highest possible returns over its 20-year history, Norges Bank Investment Management writes in a new report. The fund believes that performance-based fee schedules are a way to attract the best external managers.
When Norges Bank Investment Management (NBIM) was set up in January 1998, the sovereign wealth fund was given a mandate to start investing in equities. Today, Norges Bank Investment Management has published a review of its 20-year history of investing with external managers.
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