The foreign exchange reserves
External managers
External managers may be used in the management of the investment portfolio. The strategy for selecting external managers is derived from the objective of achieving the highest possible return within the limits of the guidelines established by the Executive Board for the investment portfolio.
Investment portfolio's external equity managers at 31 December 2006
At the end of the year, there were none external equity managers.
Investment portfolio's external fixed income managers at 31 December 2006
At the end of the year, 11 external fixed income managers with 17 mandates managed at total of NOK 24 billion:
- Barclays Global Investors N.A.
- Bridgewater Associates Inc.
- Hyperion Capital Management Inc.
- Lehman Brothers Asset Management LLC
- Morgan Stanley Ivestment Management
- PanAgora Asset Management Inc
- Pareto Partners
- Putnam Advisory Company LLC
- Smith Breeden Associates Inc
- State Street Global Advisors
- TCW Asset Management Company