ASIA - Norges Bank Investment Management plans to open an Asian office this year, with CEO Knut Kjær confirming Shanghai as the preferred destination.
NBIM - manager of the €180bn Global, Europe's largest pension fund - claimed the firm’s continued growth meant there was a need for a presence in Asia.
“Having an office there would better enable us to keep a eye on external managers, do market research and build up more of a local presence,” said Kjær.
He stressed the decision to move was not part of a strategic shift towards Asian markets, but rather a desire to have a presence in all markets.
“We hope to do so this year,” said Kjær. “We are looking at Shanghai. That is our preferred location, but it is not set in stone.”
NBIM currently has offices in Oslo, London and New York.
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