Norway’s sovereign wealth fund offers portfolio managers a dream job
Employer that can’t compete on remuneration has found other ways to attract and retain executives, study shows
Norway’s sovereign wealth fund, the world’s biggest, is hamstrung in competing for talent with the rest of the investment industry. As a public institution, it faces what it calls “barriers to remuneration” — it can’t pay its stars what they would earn working at a hedge fund. But a study just published celebrating 20 years of active management suggests the fund has found other ways to attract and retain portfolio managers.
The Norwegian fund had 246 employees whose pay is tied to investment performance, according to its 2020 annual report. Their average compensation last year was about $324,000 — an incredible amount for most jobs, but a far cry from the multimillion dollar incomes that top-performing hedge fund managers would expect to generate. So for a cadre of about 30 of its employees, a highly specialised role is available with a job description designed to outshine bonuses...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.