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Article: Leader of Norwegian giant calling it quits; Successor will face huge cash flows and allocation changes.(International)(Norges Bank Investment Management)
- Article from:
- Pensions & Investments
- Article date:
- October 1, 2007
- Author:
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Thao Hua
OSLO - The world's second largest pension fund is losing one of its key architects, but the move is not expected to stifle its success.
Norges Bank is searching for a successor to Knut Kjaer, executive director of Norges Bank Investment Management, Oslo, which primarily oversees the investments of Norway's Government Pension Fund- Global. All but about one-fifth of the fund is managed internally.
Assets under management at NBIM totaled 2.18 trillion kroner as of June 30, 1.94 trillion kroner of which is for the government fund, which was set up to invest the country's oil reserve capital overseas with an eye toward providing ...