StarZero All shows Try the podcast clipper →

Norges Bank Investment Management

14 statements across 1 episodes · 3 bullish · 1 bearish · 1 people on the record · first statement Dec 4, 2023 by Nicolai Tangen · said 9 times in 3 episodes since 2017 · across every show →

Mentions by year

brought up most by Ted Seides (4), James Aitken (4), Meredith Jenkins (1)

tap a year for its mentions
0021412017201820192020202120222023episodesmentions
0112017201820192020202120222023episodes it came up in
0020.5412017201820192020202120222023episodesmentions per episode
2023 4 mentions in 1 episode
2020 4 mentions in 1 episode
2017 1 mention in 1 episode

every mention, scene by scene, with the transcript →

Everything said about Norges Bank Investment Management, oldest first

Dec 4, 2023 positive
Disclosure
Tangen: Shorter bond duration saved NBIM significant money in recent years
“So we did, for instance, have a shorter duration than the market over the last few years. That's saved us quite a bit of money.”
Nicolai Tangen Dec 4, 2023 ▶ 27:36 Nicolai Tangen – Overseeing the Largest Sovereign Wealth Fund (EP.354)
Dec 4, 2023
Disclosure
Tangen: NBIM runs 5% of assets with external managers in developing markets
“We run five percent of the assets with external managers, and that's the assets that we have in developing markets.”
Nicolai Tangen Dec 4, 2023 ▶ 29:33 Nicolai Tangen – Overseeing the Largest Sovereign Wealth Fund (EP.354)
Dec 4, 2023
Assertion Supported
Tangen: 3% sovereign wealth fund payout covers over 20% of Norway's budget
“Even with three percent of the fund being spent, that is now more than 20% of the Norwegian budget.”
Nicolai Tangen Dec 4, 2023 ▶ 22:45 Nicolai Tangen – Overseeing the Largest Sovereign Wealth Fund (EP.354)
Dec 4, 2023
Assertion Supported
Tangen: NBIM owns 1.5% of global equities and 2.7% of European companies
“The biggest single shareholder in the world, one and a half percent of all the equities worldwide in 9000 companies. In Europe, we own 2.7% of all companies.”
Nicolai Tangen Dec 4, 2023 ▶ 22:02 Nicolai Tangen – Overseeing the Largest Sovereign Wealth Fund (EP.354)
Dec 4, 2023 neutral
Disclosure
Tangen: NBIM uses AI for capital deployment timing, not stock picking
“So we don't really use it to pick investments. We use it to time the deployment of capital. When we get money into the fund, we use it for that timing. And we use it also now increasingly to minimize trading.”
Nicolai Tangen Dec 4, 2023 ▶ 42:18 Nicolai Tangen – Overseeing the Largest Sovereign Wealth Fund (EP.354)
Dec 4, 2023 neutral
Assertion Supported
NBIM pre-announces proxy voting intentions five days before AGMs
“We announce voting intentions five days ahead of time so that everybody in the world can see how we vote.”
Nicolai Tangen Dec 4, 2023 ▶ 37:06 Nicolai Tangen – Overseeing the Largest Sovereign Wealth Fund (EP.354)
Dec 4, 2023 positive
Assertion Supported
Tangen: NBIM runs $1.3T with 650 staff, a third of peer size
“It's roughly a third of the size of what similar institutions would be given the asset size. We are 650 people, 650 people running 1.3 trillion.”
Nicolai Tangen Dec 4, 2023 ▶ 25:47 Nicolai Tangen – Overseeing the Largest Sovereign Wealth Fund (EP.354)
Dec 4, 2023
Insight
Tangen: Mega-funds must track indices because governance cannot survive big relative losses
“The problem is that you are being kicked out at the worst possible time, and typically then you would liquidate the positions and crystallize losses which shouldn't be crystallized. And that is why it's important to be close to index, because a governance stru…”
Nicolai Tangen Dec 4, 2023 ▶ 25:15 Nicolai Tangen – Overseeing the Largest Sovereign Wealth Fund (EP.354)
Dec 4, 2023
Disclosure
Tangen: NBIM has roughly 100 external manager relationships
“We have roughly a hundred relationships, so we spread it out.”
Nicolai Tangen Dec 4, 2023 ▶ 30:58 Nicolai Tangen – Overseeing the Largest Sovereign Wealth Fund (EP.354)
Dec 4, 2023 negative
Assertion Supported
Tangen: NBIM is the only major fund of its type avoiding private equity
“And also, we are the only large fund in the world of our type who are not doing it.”
Nicolai Tangen Dec 4, 2023 ▶ 34:21 Nicolai Tangen – Overseeing the Largest Sovereign Wealth Fund (EP.354)
Dec 4, 2023
Disclosure
Tangen: NBIM is preparing a recommendation to add private equity
“Private equity has not been a part of the mandate we have, and we are in active conversation with the Ministry of Finance to Potentially get that in, and this is a decision by the board, and we will soon make our recommendation, and then we see whether we get …”
Nicolai Tangen Dec 4, 2023 ▶ 33:08 Nicolai Tangen – Overseeing the Largest Sovereign Wealth Fund (EP.354)
Dec 4, 2023 neutral
Assertion Partly supported
NBIM votes at 12,000 AGMs and on 120,000 proposals annually
“We vote at 12,000 AGMs every year, 120,000 proposals.”
Nicolai Tangen Dec 4, 2023 ▶ 37:01 Nicolai Tangen – Overseeing the Largest Sovereign Wealth Fund (EP.354)
Dec 4, 2023 positive
Assertion Contradicted
Tangen: 650 NBIM staff can speak publicly, up from four
“In the past, there were four people who could talk on behalf of the fund. Now, 650 people can talk on behalf of the fund.”
Nicolai Tangen Dec 4, 2023 ▶ 43:46 Nicolai Tangen – Overseeing the Largest Sovereign Wealth Fund (EP.354)
Dec 4, 2023
Disclosure
Tangen: NBIM researches fewer than 1,000 of its 9,000 holdings
“We do not research 9000 companies. We research Less than a thousand. But we do research them very well.”
Nicolai Tangen Dec 4, 2023 ▶ 31:17 Nicolai Tangen – Overseeing the Largest Sovereign Wealth Fund (EP.354)
Made with StarZero

Turn any episode into a week of clips.

This entire site, over 700 episodes transcribed, diarized, checked and made playable, runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the moments worth sharing, cuts them, captions them, and reframes them for every feed.

Try the podcast clipper Learn more