Norway’s oil fund to allocate billions to long-short equity hedge funds

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Financial Times 1d ago

Norway’s oil fund to allocate billions to long-short equity hedge funds - Financial Times

Quick Summary:

The sovereign wealth fund, set up to manage the country’s oil and gas revenues, has delivered annualised returns of 7.5 per cent over the past decade.

NBIM’s move comes as some investors grow increasingly concerned that equity market valuations look stretched and that simply owning a long-only portfolio of stocks may no longer be the best way to make money from markets.

Tangen has been chief executive of NBIM since September 2020 and was hired from AKO, the hedge fund he founded in 2005.