The oil fund will choose stocks that it believes will not make money to a greater extent, but refuses to say that it will be a more active fund than before. -The head of the oil fund Nicolai Tangen (Nicolai Tangen) said that the oil fund will not become a hedge fund.
On Wednesday, the Petroleum Fund proposed New strategic plan Applies to 2021 and 2022.
There, the fund announced several measures that will be taken within the scope of its current mandate, which will help ensure the best return.
At the same time, the head of the fund, Nicolai Tangen, denied that the oil fund will become a more active investor under his leadership.
The fund warns that, among other things, the fund will take a more aggressive stance related to companies or market events.
«We will be in company activities and
The fund wrote: “The capital market events have increased the return on the investment portfolio.”
The fund will also reduce their holdings of stocks that they don’t think will do well.
“Our goal is to expand the negative selection strategy by undervaluing stocks that we believe are performing worse than the market. The fund writes that we will do this through in-depth accounting analysis of selected companies.
The head of the oil fund, Nicolai Tangen, said that these measures do not mean that the fund is moving in important new directions. There are more rumors that it will use some leeway in the current mission to pick the “rotten apples.”
-I think: Why should we have everything? We don’t have to own everything, and we don’t have to lend money to everyone. We can be more selective and get rid of some rotten apples and other things. Tangen told E24 that I think this is a good strategy.
People have speculated whether the fund will become more active after Dangen takes over as president. For many years, Tangen has been at the helm of its hedge fund AKO Capital.
But Tangen has no plans to move in this direction.
-Tangen said that oil funds will not become hedge funds.
Espen Henriksen of the BI Department of Financial Economics agreed that the new strategic plan will not make any major changes to the management of the fund.