Historical archive

November 8, 2011:

The Investment Strategy Summit 2011

The Strategy Council for the Government Pension Fund Global (GPFG)

"The intention was to initiate and encourage a public debate on issues related to the development of the investment strategy of the Fund over time. In that respect, we can clearly call this a success", said Mr. Pål Haugerud, Director General in the Asset Management Department.

"The intention was to initiate and encourage a public debate on issues related to the development of the investment strategy of the Fund over time. In that respect, we can clearly call this a success", said Mr. Pål Haugerud, Director General in the Asset Management Department.

Director General Pål Haugerud and professor Elroy Dimson

The Strategy Council for the Government Pension Fund Global is appointed by the Ministry of Finance. The Council’s independent reviews provide useful input while contributing to greater transparency and discussion on important issues related to the Fund. The members of the Strategy Council in 2011 were given the task of organizing a summit on important issues relevant to the long-term investment strategy for the fund.

The Strategy Council in 2011 was chaired by Professor Elroy Dimson (London Business School). Other members include Managing Director Antti Ilmanen (AQR Capital Management), Senior Analyst Øystein Stephansen (DnB NOR) and Professor and Rector Eva Liljeblom (Hanken School of Economics).

The Investment Strategy Summit brought together a large and diverse group of both academics and practitioners. Enthusiastic participants from Norway and the international finance community contributed to a very successful summit.

Raconteur Peter Stanyer (bio): Summary of the summit

More information about the programme and speakers.

Panellists and presentations:

State Secretary Hilde Singsaas' opening speech.

Harvesting liquidity premia
Moderator: Dr. David Chambers, Cambridge Judge Business School
- Prof. Roger Ibbotson, Yale School of Management
- Prof. Andrew Ang, Columbia Business School
- Mr. Øystein Stephansen, DnB NOR

Time-varying risk premia
Moderator: Prof. Elroy Dimson, London Business School
- Prof. Rajnish Mehra, Arizona State University W. P. Carey School of Business
- Dr. Sung Cheng Chih, Government of Singapore Investment Corporation
- Dr. Antti Ilmanen, Author of Expected Returns (Wiley 2011)

Emerging market investments
Moderator: Prof. Eva Liljeblom, Hanken School of Economics
- Prof. Campbell Harvey, Duke University Fuqua School of Business
- Prof. Arne Jon Isachsen, BI Norwegian Business School
- Prof. Elroy Dimson, London Business School 

 

Professor Elroy Dimson sum up the summit (video).