Список проголосовавших за комментарий "Александр Шадрин, Да, этот ориентир-индекс и используется для отбора акций Да и при таком размере фонда, сейчас $838B, по-другому и не получилось бы. За все время существования фонда они, кстати сказать, его неоднократно меняли. <br/> Про то, какой бенчмарк выбрать, были обсуждения здесь: <a href="/r.php?u=http%3A%2F%2Fwww.regjeringen.no%2Fen%2Fdep%2Ffin%2FDocuments-and-publications%2Fpropositions-and-reports%2FReports-to-the-Storting%2F2011-2012%2Fmeld-st-17-20112012-2%2F10.html%3Fid%3D680587&s=2589172863" target="_blank">www.regjeringen.no/en/dep/fin/Documents-and-publications/propositions-and-reports/Reports-to-the-Storting/2011-2012/meld-st-17-20112012-2/10.html?id=680587</a><br/> <br/> И вот предложения в результате (http://www.regjeringen.no/en/dep/fin/Documents-and-publications/propositions-and-reports/Reports-to-the-Storting/2011-2012/meld-st-17-20112012-2/2.html?id=680517):<br/> In the annual report, Norges Bank also wrote that the objective for the operational benchmark portfolio is to achieve a better ratio between expected risk and return after costs. The Bank pointed out that the strategic benchmark set by the Ministry of Finance is based on market indices provided by leading index providers. This helps to ensure that management of the Fund is transparent and verifiable. In the case of equity, the FTSE Global Equity Index Series All Cap has been chosen. As such market indices are based on a market-weighting principle, they are not adapted to the differing objectives and special characteristics of individual funds. Norges Bank wrote that the strategic benchmark specifies a direction for investment and reflects the risk tolerance of the owner. In the Bank’s view, an operational benchmark portfolio can be used to adapt the investments to the GPFG’s objectives and special characteristics.<br/> In its annual report, Norges Bank emphasises that the limits set in the mandate issued by the Ministry can still be linked to the strategic benchmark index. Deviations between the strategic benchmark and the operational benchmark portfolio will, as in the case of other investment choices, utilise the limits for active management set in the mandate for the GPFG. However, such deviations may be larger and of a different nature, and have a different timeframe, than deviations which normally fall within so-called active management."