World’s largest SWF to become more contrarian and longer-term

Norges Bank Investment Management, the $1.6 trillion Norwegian fund, the world’s largest SWF, is to shift its allocation approach to become more contrarian and longer terms, its CEO has said. Nicolai Tangen, was addressing the annual conference of Norfund, Norway’s $4bn development finance fund, in Oslo, on 23 May. Asked about what constitutes a successful investment strategy he said: “To be very long term, which we haven’t particularly been, and to be really contrarian, which w…