5. jan. 2011

Knut Kjær om SWF

Kom over en konferanse fra oktober 2008 på Harvard med et lengre innlegg av Knut Kjær der han deler sine erfaringer fra da han jobbet som sjef for NBIM. I grunnen litt merkelig at man tar seg tid til slike konferanser midt en periode preget av historiske kjøpsmuligheter men han hadde vel kanskje en litt annen rolle på det tidspunktet.

Introduksjon:
Significant recent investments by sovereign wealth funds in troubled U.S. financial services firms have put sovereign wealth funds under the spotlight. Because these funds often lack transparency, many observers have wondered about the practices and intentions of these funds, expressing concern that sovereign wealth funds are using their investments for political purposes.

The consensus of this panel, supported by a detailed analysis of the investments made by sovereign wealth funds, is that sovereign wealth funds are run by professional investors. They don't have a political motivation; their interest is in maximizing their fund's long-term risk-adjusted returns.