The $75bn (€76.5bn) Petroleum Fund in Norway has appointed Merrill Lynch Investment Managers, State Street Global Advisors and Lincoln Capital Management for enhanced indexed management of mortgaged-backed securities in the US.

The fund did not give further details of the mandates but usually appoints managers to run portfolios with a minimum size of $200m. The Petroleum Fund has over time switched entirely out of passive management and half the portfolio is now managed actively and the other half through enhanced indexing.

Norway's Petroleum Fund adds three managers

Pirkko Juntunen

State Street

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