dc.contributor.author | Repstad, Pål Jacob | |
dc.contributor.author | Syltøy, Kenneth | |
dc.date.accessioned | 2019-11-04T07:28:47Z | |
dc.date.available | 2019-11-04T07:28:47Z | |
dc.date.issued | 2019 | |
dc.identifier.uri | http://hdl.handle.net/11250/2626240 | |
dc.description | Masteroppgave(MSc) in Master of Science in Business, Finance - Handelshøyskolen BI, 2019 | nb_NO |
dc.description.abstract | The motivation behind this paper is to identify how important market
movements, asset allocation policy and active management is for the Norwegian,
Canadian and Japanese government pension funds’ returns. We use data from
the funds’ financial reports to examine this importance in terms of variance, and
further estimate how each fund’s active management contributes value to
returns. Our results are in line with previous literature, namely that market
movements explain the bulk of the variance in returns. Further, asset allocation
policy and active management explain about the same amount. We also find
evidence suggesting that two of three funds add value through their active
management. | nb_NO |
dc.language.iso | eng | nb_NO |
dc.publisher | Handelshøyskolen BI | nb_NO |
dc.subject | finans | nb_NO |
dc.subject | finance | nb_NO |
dc.title | The importance of market movements, asset allocation policy and active management for government pension funds – evidence from GPFG, CPP and GPIF | nb_NO |
dc.type | Master thesis | nb_NO |