New mandates for management of equity portfolios in the Government Petroleum Fund
Norges Bank Investment Management is today announcing new external active equity mandates for the Norwegian Government Petroleum Fund. The Fund is valued at USD 101 billion (NOK 682 billion) as at the end of the first quarter of 2003. 40 per cent of the Fund is invested in global equities. 31 mandates totalling USD 15 billion are currently being managed by 16 different managers.
We will now be appointing new external active managers in the US. The new mandates consist of sector mandates covering a range of different sectors in the US market, as well as core US small cap mandates. Initial funding will range from USD 100 million to USD 500 million.
Applications received before 27 June will be prioritised. Applications received after this date will be evaluated later in the year.
Further information and questionnaires are provided on our website, Information on tendering for existing mandates is also available. This website will be used for releasing information on any new mandates.
Contact:
Press telephone: +47 21 49 09 30
Email: presse@norges-bank.no