The state Fund in Tromsø
Folketrygdfondet is now creating their new management environment — Statens fond i Tromsø
The government fund in Tromsø will be administered by the Danish National Insurance Fund and will manage NOK 15 billion, which can be doubled once some experience has been gained.
The new fund will invest based on a market-weighted index consisting of smaller listed companies in the Nordic region. Just under half of the benchmark index is made up of Swedish companies, followed by Danish (22 percent), Finnish (13 percent), Norwegian (9 percent) and Icelandic (6 percent) companies.
The proposed benchmark index will consist of 344 smaller listed Nordic companies with a total market capitalisation of NOK 1,506 billion, adjusted for free flow. The three largest sectors will be industry (27 per cent), health (25 per cent) and finance (21 per cent).
“The investment universe contains many exciting companies with high value creation potential, as history confirms. The new unit will build up expertise that few other managers in the Nordic market possess” -Kjetil Houg, CEO of Folketrygdfondet.
Ascender assists Folketrygdfondet with the recruitment of one investment director and up to four portfolio managers to their team in Tromsø.
The State Fund in Tromsø aims to strengthen the financial environment in Northern Norway. It's an exciting mission in a region that's in the wind. The investment strategy for the new fund will be inspired by the experience of the Folketrygdfondet, and the new managers will be involved in setting the premises. The goal of Statens fond in Tromsø is to deliver the highest possible return over time, and to be a responsible manager.
“Northern Norway is a growing region where many people want to live. It is important when we start setting up a financial environment for the future”
Kjetil Houg looking for you who wants to manage 15mlrd
Please feel free to contact one of our advisors in Ascender if you have any questions related to the opportunities in Statens fond in Tromsø:
