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 389 billion kroner, or 3.9 percent of its capital, under external management at the end of 2019, compared with 322 billion kroner at the start of the year. A total of 83 mandates were managed externally by 74 organisations. These included 66 country-specific mandates for investments in emerging and frontier equity markets, 17 country-specific mandates for investments in small-capitalisation companies in developed equity markets.
The fund's externally managed investments were worth 389 billion kroner at the end of 2019.
External managers as at 31 December 2019
| Abax Investments |
| Ajeej Capital |
| Alaska Investimentos |
| Algebris Investments |
| All Weather Capital |
| AM Advisors |
| Amwal Capital Partners |
| APS Asset Management |
| Ashmore Investment Management |
| ATRAM Trust Corporation |
| Azimut Asset Management |
| B & P Asset Management |
| BNY Mellon Investment Management |
| BTG Pactual Asset Management |
| Cephei Capital Management |
| CIM Investment Management |
| Cobas Asset Management |
| Compass Group |
| Denali Prestige Asset Management |
| Dragon Capital Management |
| DSP Investment Managers |
| East Capital Asset Management |
| Eastspring Investments |
| Ellerston Capital |
| ENAM Asset Management |
| Esaliens TFI |
| Fairtree Capital |
| Financiere Arbevel |
| Green Court Capital Management |
| Harbour Asset Management |
| Insignis TFI |
| Introspect Capital |
| Ion Value Management |
| Ipopema TFI |
| Istanbul Portfoy |
| Kairos Partners |
| Karma Capital Advisors |
| Keel Capital |
| Keywise Capital Management |
| Krungsri Asset Management |
| Laurium Capital |
| Lazard Asset Management |
| Lynear Wealth Management |
| Maybank Asset Management |
| Mirabaud Asset Management |
| Moneda Asset Management |
| Nabo Capital |
| Obafrica AM and La Financiere de l’Echiquier |
| Old Mutual Investment Group |
| PAAMCO Prisma |
| Perennial Value Management |
| Perseverance Asset Management |
| Prosperity Capital Management |
| PT Samuel Asset Manajemen |
| Quantum Advisors Private Limited |
| Red Gate Asset Management |
| Rheos Capital Works |
| SAM Asset Management |
| Schroder Investment Management |
| Sparx Asset Management |
| Specialised Research |
| Springs Capital |
| Squadra Investments |
| Talis Asset Management |
| Templeton Asset Management |
| Threadneedle Asset Management |
| Toesca Asset Management |
| Trigon Asset Management |
| Triton Asset Management |
| Truston Asset Management |
| Vinci Partners |
| VIP Research & Management |
| Visio Fund Management |
| Zeal Asset Management |
Last saved: 27/02/2020
