My take on the emergent debate on natural resource funds
Norway is about to debate what to do with their US$ 840 billion oil fund – that is, to continue investing in oil, gas and coal companies or to think about using the third largest sovereign wealth fund in the world towards sustainable energy transition.
Mr. Petter Jonssen, Norway’s fund manager in equity markets who control US$ 530 billion worth of assets or 63.6 percent of the oil fund, makes the strategic decisions on how to invest the oil fund’s equity units. His strategy is to divide the equity units into four teams, three of which are dedicated to specific industries, special projects, and general investments whilst the fourth part is diverted towards trading. Notwithstanding the technical language of financial investments, the key point here is that Norwegians are now raising vital questions about the guiding principles of how managers…
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