Browsing Norges Bank Investment Management by Title

Now showing items 115-121 of 121

    • The Role of Securities Lending in Well-Functioning Markets 

      Unknown author (Asset Manager Perspective;2/2016, Others, 2016)
      Securities lending markets contribute to well-functioning markets in important ways. The main vector for this contribution is that lending markets aid in efficient price discovery for assets. Asymmetries in the ability of ...

    • The Structure of Inflation-Linked Bond Markets 

      Unknown author (Discussion note;9/2012, Others, 2012)
      We describe the market structure of global inflation-linked bonds to evaluate to what degree they constitute an investable and homogeneous asset class. In particular, we discuss the market’s growth, size and composition ...

    • The Sustainable Development Goals and the Government Pension Fund Global 

      Unknown author (Asset Manager Perspective;1/2018, Others, 2018)
      The UN Sustainable Development Goals (SDGs) set out an ambitious policy agenda to achieve sustainable economic, social and environmental development by 2030. As a long-term and global owner, the Government Pension Fund ...

    • The Term Premium 

      Unknown author (Discussion note;4/2011, Others, 2011)
      In this section, we review the theory and empirical evidence of the term premium. The term premium is the excess return that an investor obtains in equilibrium from committing to hold a long-term bond instead of a series ...

    • The Value Effect 

      Unknown author (Discussion note;16/2012, Others, 2012)
      In this note, we review the theory and empirical evidence of the value effect. The value effect is the excess return that a portfolio of value stocks (stocks with a low market value relative to fundamentals) has, on average, ...

    • Time-Varying Expected Returns and Investor 

      Unknown author (Discussion note;1/2012, Others, 2012)
      What is the optimal rebalancing policy for a portfolio’s equity and bond holdings? The classical answer, building on the seminal contributions by Mossin (1968), Merton (1969, 1971), Samuelson (1969) and others, is that ...

    • Well-Functioning Financial Markets 

      Unknown author (Discussion note;13/2012, Others, 2012)
      In this note we discuss the theoretical foundation for well-functioning financial markets and why well-functioning financial markets are essential to reach the objective for the management of the Fund. Against this background ...