External mandates
We award investment mandates to external equity managers with expertise in specific markets. The mandates are in markets and segments where it is not expedient to build internal expertise and the potential for excess returns is considerable. The mandates typically cover investments in emerging markets and small-capitalisation companies in developed markets.
The fund had 523 billion kroner, or 4.2 percent of its capital, under external management at the end of 2021, compared with 512 billion kroner at the start of the year. A total of 98 mandates were managed externally by 89 organisations. These included 70 country-specific mandates for investments in emerging and frontier equity markets and 28 mandates for investments in developed equity markets.
External managers as at 31 December 2021
| Manager name |
| Abax Investments |
| Ajeej Capital |
| Akaris Global Partners |
| Alaska Investimentos |
| Algebris Investments |
| AM Advisors |
| Amwal Capital Partners |
| Anthilia Capital Partners |
| APS Asset Management |
| Ashmore Investment Management |
| ATRAM Trust Corporation |
| Azimut Asset Management |
| B & P Asset Management |
| Barrier Capital Management |
| Bestinver Gestión |
| BNY Mellon Investment Management |
| Brasil Capital Adviser |
| BTG Pactual Asset Management |
| Celeste Fund Management |
| Cephei Capital Management |
| Compass Group |
| Dragon Capital Management |
| DSP Investment Managers |
| East Capital Asset Management |
| Eastspring Investments |
| Ellerston Capital |
| ENAM Asset Management |
| Fairtree Capital |
| Falcom Administradora General de Fondos |
| Financiere Arbevel |
| First Beijing Investment |
| Green Court Capital Management |
| Halcyon Research |
| Harbour Asset Management |
| Insignis TFI |
| Introspect Capital |
| Ion Value Management |
| Ipopema TFI |
| Istanbul Portfoy |
| IvyRock Asset Management |
| KAF Investment |
| Kairos Partners |
| Karma Capital Advisors |
| Keywise Capital Management |
| King Wai Asset Management |
| Kiron Capital |
| Krungsri Asset Management |
| Laurium Capital |
| Lupus alpha Asset Management |
| Lynear Wealth Management |
| Maybank Asset Management |
| Meitav Dash Portfolio Management |
| Moneda Asset Management |
| Navi Capital |
| Nicholas Investment Partners |
| NZS Capital Jupiter Asset Management |
| Oyster Catcher Investments |
| Pascal Investment Advisers |
| Perennial Value Management |
| Perseverance Asset Management |
| Philequity Management |
| Prosperity Capital Management |
| PT Samuel Asset Manajemen |
| Quantum Advisors Private Limited |
| Red Gate Asset Management |
| Rheos Capital Works |
| River Capital |
| SAM Asset Management |
| Sanlam Investments |
| Santa Lucia Asset Management |
| Santander Asset Management |
| Schroder Investment Management |
| Sparx Asset Management |
| Springs Capital |
| SPSW Capital |
| Squadra Investments |
| Stony Point Capital |
| Talis Asset Management |
| Templeton Asset Management |
| Threadneedle Asset Management |
| TISCO Asset Management |
| TRG Management |
| Trigon Asset Management |
| Triton Asset Management |
| Twenty Acre Capital |
| Vinci Partners |
| VIP Research & Management |
| Visio Fund Management |
| Zeal Asset Management |
Last saved: 18/02/2022
