| dc.description.abstract | This thesis examines the similarities and differences between the Swedish and the
Norwegian National Pension Funds, the Swedish National Pension Funds (AP)
and the Government Pension Fund Global (GPFG), respectively. We have
compared the funds along two dimensions: institutional structure and investment
management on one side and investment performance on the other. Ultimately,
this thesis examines whether the different underlying purposes of the funds, which
affect the investment management, can explain differences in performance.
Additionally, we have linked the funds’ investment management to the
Endowment model and the OECD best practices for pension funds. We find that
the differences in institutional structure and management has led to differences in
investment performance. Overall, we find that GPFG is the most cost-efficient
and achieves the best risk-return relationship, while the AP funds seem to have a
superior long-term investment strategy. | nb_NO |
