The ministry has a policy of regularly conducting broad reviews of the GPFG in the run up its annual report, which it presents to parliament around the end of March.As part of the review, the ministry will also commission two consultancy reports on management costs and responsible management activities in other large funds. McKinsey and Inflection Point Capital Management are to put these reports together.The ministry said it had also sent letters in June to Norges Bank asking for advice and assessments on these topics.The management review group includes Magnus Dahlquist, professor at the Stockholm School of Economics, and Bernt Arne Ødegaard, professor at the University of Stavanger.Dahlquist is also research fellow at the Centre for Economic Policy Research in London and at Network for Studies on Pensions, Ageing and Retirement in the Netherlands. Both he and Ødegaard have previously served on expert groups advising Norges Bank.The private equity group includes Trond Døskeland, associate professor at the Norwegian School of Economics, and Per Strömberg, professor at the Stockholm School of Economics. Norway’s ministry of finance has appointed two expert groups to review aspects of how its NOK7.7trn (€823bn) sovereign wealth fund invests.One group will look at the management of the Government Pension Fund Global (GPFG), analysing the performance of its active management. It will make a recommendation regarding whether the size of the fund’s relative risk budget – or expected tracking error limit – should be adjusted.The second group is to assess whether the fund should be allowed to invest in unlisted equities. Although Norges Bank Investment Management (NBIM) – part of the central bank Norges Bank and the fund’s manager – is already allowed to invest in unlisted real estate and in unlisted companies where that company intends to seek a listing, it cannot generally invest in private equity. The management review group is to submit its report by January 2018, the finance ministry said, while the private equity group has a December 2017 deadline for its report.
Steve SheaSteven Shea, 60, of Oxford, died Monday, December 8, 2014, at his home in Oxford.Graveside Memorial Services will be at 2 p.m., Friday, December 12, 2014 at the First Freewill Baptist Church in Wellington. No visitation is scheduled as cremation has taken place. A memorial has been established with the NRA and may be left with the Oxford Funeral Service. For further information please visit www.oxfordfuneralservice.com.Steven Lloyd Shea was born November 16, 1954 the son of Lloyd and Naomi (Osborn) Shea in Ottawa, KS. He graduated from Oxford High School in 1973. Steven worked as a machinist at TECT for over 40 years. He enjoyed firearms of all kinds and was a gunsmith. He also enjoyed riding his motorcycle, hunting and fishing. Steven was a member of the Kansas State Rifle Association and the National Rifle Association.Steven is survived by his sister, Cindy Wiley of Oxford; stepdad, Jerry Price of Oxford, and niece, Christy Newlin, great nephews, Quentin Newlin and Bryson Mahurin; great nieces, Aubriannah Presinger and one great great-niece, Arienna Mahurin.He is preceded in death by his parents.