Now showing items 1-20 of 121

    • A Survey of the Small-Firm Effect 

      Unknown author (Discussion note;12/2012, Others, 2012)
      The small-firm effect (SFE) refers to the long-term average excess returns that a portfolio of small-capitalisation stocks earns over a portfolio of large-capitalisation stocks. In this note, we review the extensive empirical ...
    • Addressing climate-related risks and opportunities as a financial investor 

      Unknown author (The Asset Manager Perspective;1/2021, Others, 2021)
      Climate change poses a financial risk to investors. Understanding when, where and how the effects of climate change will materialise is an important but complex exercise. Although the timing and magnitude of the consequences ...
    • Alternatives to a Market-Value-Weighted Index 

      Unknown author (Discussion note;7/2012, Others, 2012)
      We study alternative portfolio construction methods in an attempt to improve the return-to-risk characteristics of market value weights. To understand the investability of these approaches we introduce a novel way to measure ...
    • Asset Allocation with Government Revenues and Spending Commitments 

      Unknown author (Discussion Note;4/2016, Others, 2016)
      In this note, we explore the implications of expanding the discussion about the equity share in the Norwegian Government Pension Fund Global to include revenues and spending commitments, using a stylised simulation framework.
    • The asset pricing effects of ESG investing 

      Unknown author (Discussion Note;1/2021, Others, 2021)
    • Benchmark Design for an Active Investment Process 

      Unknown author (Discussion note;6/2014, Others, 2014)
      Most equity funds are benchmarked to market capitalisation weighted indices. A large investor may wish to design nonmarket capitalisation weighted benchmarks to maximise the benefit to the investor of the stock picking ...
    • Board Appointment Practices - an International Overview 

      Unknown author (Discussion note;11/2012, Others, 2012)
      Shareholders receive return on their invested equity only after the company has ensured the fulfilment of obligations to all other parties. Shareholders are therefore rightly given prerogatives to influence the company, ...
    • Capturing Systematic Risk Premia 

      Unknown author (Discussion note;8/2012, Others, 2012)
      This note illustrates the empirical risk/return characteristics of the different risk premia, and how one can design scalable investment strategies to capture systematic risk premia.
    • Climate change as a financial risk to the fund 

      Unknown author (The Asset Manager Perspective;2/2021, Others, 2021)
      Climate risk is already affecting the markets in which the fund is invested. The changes in the climate system are becoming more intense, widespread, and frequent. The long-term economic implications of climate change could ...
    • Corporate Bonds in a Multi-Asset Portfolio 

      Unknown author (Discussion note;2/2017, Others, 2017)
      In this note, we evaluate the risk and return characteristics of corporate bonds, and discuss the role of this asset class in a multi-asset portfolio consisting of equities and nominal Treasury bonds in addition to corporates. ...
    • Corporate Governance 

      Unknown author (Discussion note;14/2012, Others, 2012)
      In this discussion note, NBIM’s expectations on corporate governance are presented. Expectations directed at boards are discussed, as is the rationale for focusing on board accountability and equal treatment of shareholders. ...
    • Corporate sustainability reporting 

      Unknown author (The Asset Manager Perspective;1/2020, Others, 2020)
      Companies’ activities have an impact on the world around them in ways that may not be priced into their market value. Their operations may in turn be affected by changes in their surroundings, either physical or social. ...
    • Country and industry effects in global equity returns 

      Unknown author (Discussion note;01/2019, Others, 2019)
    • Currency Carry Trade 

      Unknown author (Discussion note;3/2014, Others, 2014)
      The carry trade in currency markets means that an investor buys a high-yielding currency and finances this by borrowing money in a currency with a low interest rate. The empirical literature on the carry trade indicates ...
    • Economic Growth and Equity Returns 

      Unknown author (Discussion note;5/2012, Others, 2012)
      We study the links between economic growth and equity market returns to evaluate whether structural changes to global growth composition have implications for longer-term strategic allocations. In particular, we assess ...
    • Empirical Analysis of Rebalancing Strategies 

      Unknown author (Discussion note;3/2012, Others, 2012)
      We review the theoretical foundation for rebalancing regimes and look at the impact of rebalancing on the portfolio’s risk and return based on historical return data from 1970 to 2011. We compare both different calendar ...
    • Expected returns on a multi-asset portfolio 

      Unknown author (Discussion Note;1/2022, Others, 2022)
    • Forvaltning av Statens petroleumsfond : Årsrapport 1998 

      Unknown author (Årsrapport;1998, Report, 1999)
    • Forvaltning av Statens petroleumsfond : Årsrapport 1999 

      Unknown author (Årsrapport;1999, Report, 2000)
    • Forvaltning av Statens petroleumsfond : Årsrapport 2000 

      Unknown author (Årsrapport;2000, Report, 2001)