Norway's wealth fund to merge real assets, equities units

Norway wealth fund headquarter

Norway's wealth fund plans to merge its real assets and equities units from next January to strengthen the management of both asset classes.

Norges Bank Investment Management (NBIM), the fund manager, said the fund seeks to bring together employees with different and complementary expertise.

The investment strategy of the world's largest sovereign wealth fund will not change”, NBIM stated, highlighting to remain an "active real estate investor."

“The move won’t result in job cuts”, Bloomberg reported, citing spokeswoman Marthe Skaar.

Norway's wealth fund said the newly merged unit will be called “Active Strategies” and will be led by the heads of the equity investment unit, Daniel Balthasar and Pedro Furtado Reis.

However, Chief Investment Officer Real Assets, Mie Caroline Holstad, decided to leave the fund.