Norway's wealth fund's annualized return is only 6.6% since 1998. https://www.nbim.no/en/investments/returns
Is this poor performance due to this kind of active management?
Is this poor performance due to this kind of active management?
Bonds (a safe investment) are usually at ~2%.
A conservatively allocated growth fund doing 6% is pret-t-y good.
Seems they're doing exactly what is expected of them, staying around the benchmark index, so that sounds pretty good:
> The fund has outperformed the benchmark index set by the Ministry of Finance by 0.24 percentage point since 1998.
Let's say Norway invested all the money into a wager on a football game, and they won, resulting in a 100% return. They'd be lucky, and they'd be idiots.