Though Norway’s NBIM has held a 3% ownership stake in five U.S.-based companies, the fund has never submitted a shareholder proposal or started an activist campaign against one of those companies. However, the fund could be a valuable ally for activists, notes FactSet.
Anthony Garcia of FactSet in s note dated December 3, 2014 points out that an analysis of the correlation between its ownership positions and proxy access proposals reveals Norges is not using proxy access proposals as a strategy to take over company boards.
World’s largest sovereign wealth fund
The government pension fund of Norway is the world’s largest sovereign wealth fund. The fund is managed by Norges...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full ArticleAlready a member? Log in here
