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.
