Norway: Innovation drives growth for Oslo managers

Tue Sep 4, 2007



Norway’s hedge fund legislation may be less friendly than the regime prevailing in other Nordic countries, but it has not prevented the country’s hedge fund managers from registering impressive growth over the past two years. Whereas Norwegian hedge funds comprised only 8% of total Scandinavian assets in 2005, that share had grown by 50% to over 12% in 2007, thereby replacing Finland for the second place in regional asset rankings.

The local market also offers a range of strategies, including innovative sector-oriented hedge funds that leverage off Norway’s specific industrial strengths. For example, in 1991, Norway took the bold step to be the first country in the world to liberalise its power market. Since then, it has nurtured a very liquid Nordic power exchange, Nord Pool, which has grown into the world’s largest market for futures, options and forward contracts in electricity. Not surprisingly, Oslo-based Interkraft...

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