$53 Billion Fund in Norway Offers ‘Scared of Everything’ Model

  • Rise in protectionism threatening to reprice all markets
  • Big question in 2017 is what role U.S. will take in world

The biggest Norwegian pension fund always fears the worst outcome. And it’s a strategy that’s paying off.

With interest rates still close to historic lows and a series of global political shocks upending many investment strategies, Norway’s biggest life insurer, Kommunal Landspensjonskasse, says its approach is to be “scared of everything.”

The market reaction to Donald Trump’s U.S. presidential election victory is proof the idea works, according to Aage Schaanning, chief financial officer at KLP, which manages about 450 billion kroner ($53 billion) in pension assets. The fund had a value-adjusted return of 4.4 percent last year through the third quarter…

$53 Billion Fund in Norway Offers ‘Scared of Everything’ Model

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