Poor governance has meant Norway’s oil fund has squandered its advantages.
by Sony Kapoor 4. Dezember 2017,
Norway’s $1 trillion sovereign wealth fund, which recently announced its intention to remove all oil and gas stocks from its benchmark, has the potential to be the world’s pre-eminent investor. It enjoys more freedom than any other investor in the world, at least on paper. So why is it such a performance laggard, trailing the best-in-class sovereign wealth funds and pension funds it should be leading? The answer offers a cautionary tale to other sovereign funds and pension funds.
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