Funds managing $670 billion react to Norway oil “revolution”
Asset management in the Nordic region is dominated by Norway’s $1 trillion sovereign wealth fund, which last week said it wants to exit all its oil and gas stocks.
Bloomberg spoke with institutional investing heads in Sweden, Norway, Denmark and Finland who together help manage a total of $670 billion, to hear their reactions. Here’s what they said:
Seminal Moment
Norway’s wealth fund “is clearly indicating that this is a completely new ball game,” said Sasja Beslik, head of group sustainable finance, which is part of an asset management unit at Nordea Bank AB that oversees about $250 billion. “This is a seminal moment” and it “hasn’t got enough media attention.”
Read more @Bloomberg
