Page 2 - Diversification Risk News Today

Economy, are you sending a message that you will divest from oil and gas? no, we are not, and ill tell you why — in 2019, the oil fund divested the pure upstream oil companies. now, that was not for ethical reasons, that was because we wanted to have diversification risk, because the nation is so dependent on oil that it didnt make sense to have pure upstream companies on top. we have kept the integrated oil companies and we think that the way to solve this problem is to have an active dialogu...

The cayman islands, yet you used them for tax purposes. no, i generated the earnings in the ako fund in the uk, and thats where i paid my full tax all the time. so why did you have these vehicles that were registered from the cayman island and jersey? because what i said which i mentioned earlier is that the clients of large endowments worldwide, thats where they wanted to be. lets take a bigger picture and look and how you run the fund. the fund has massive stakes in oil and gas companies aroun...

Divested the pure upstream oil companies. now, that was not for ethical reasons, that was because we wanted to have diversification risk. because the nation is so dependent on oil that it didnt make sense to have pure upstream top. we have kept the integrated oil companies and we think that the way to solve this problem is to have an active dialogue with the companies and be part of this transition, the energy transition. we dont — think somebody needs to own these companies and we dont see an...