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 512 billion kroner, or 4.7 percent of its capital, under external management at the end of 2020, compared with 389 billion kroner at the start of the year. A total of 97 mandates were managed externally by 88 organisations. These included 72 country-specific mandates for investments in emerging and frontier equity markets, 25 country-specific mandates for investments in developed equity markets.
External managers as at 31 December 2020
| Manager name |
| Abax Investments |
| Ajeej Capital |
| Alaska Investimentos |
| Algebris Investments |
| AM Advisors |
| Amwal Capital Partners |
| APS Asset Management |
| Ashmore Investment Management |
| ATRAM Trust Corporation |
| Azimut Asset Management |
| B & P Asset Management |
| Bestinver Gestión |
| BNY Mellon Investment Management |
| BTG Pactual Asset Management |
| Celeste Fund Management |
| Cephei Capital 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 |
| FIM Partners |
| Financiere Arbevel |
| Green Court Capital Management |
| Harbour Asset Management |
| Insignis TFI |
| Introspect Capital |
| Ion Value Management |
| Ipopema TFI |
| Istanbul Portfoy |
| KAF Investment |
| Kairos Partners |
| Karma Capital Advisors |
| Kayak Investment Partners |
| Keel Capital |
| Keywise Capital Management |
| Kiron Capital |
| Krungsri Asset Management |
| Laurium Capital |
| Lazard Asset Management |
| 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 |
| Obafrica AM and La Financiere de l’Echiquier |
| Oyster Catcher Investments |
| PAAMCO Prisma |
| 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 |
| Sectoral Asset Management |
| Sparx Asset Management |
| Specialised Research |
| Springs Capital |
| SPSW Capital |
| Squadra Investments |
| Talis Asset Management |
| Templeton Asset Management |
| Threadneedle Asset Management |
| TISCO 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: 25/02/2021
