Norway’s Government Pension Fund Global has fixed the upper limit of annual bonuses it pays to external fund managers at $25 million, Pensions & Investments reports. The limit has been set to support a longer-term investment strategy.
At the end of second quarter, the $530 billion, Oslo-based fund had $34.12 billion of its stock and 6.8 percent of its assets managed externally. It had paid bonus worth $90.8 million to one manager and $29.14 million to another in 2009. In the same year, it also put in place an undisclosed cap on the bonuses.
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