Nobel Foundation invests its largest share of funds in Asian Indices

AHMEDABAD: The Nobel Foundation, the institution tasked with keeping the vision and legacy of Alfred Nobel alive, has invested its largest share of funds in Asian Indices, the Foundation’s Executive Director Lars Heikensten said. “We have fairly higher share here. We have a share here which is higher than it is in global indices", Heikensten said in an exclusive interview to ET.

The ‘Will’ left by Alfred Nobel, which was opened in 1896, mentioned that all his assets should be sold and money be put in funds. The returns from those funds should be used to give Nobel Prizes for Physics, Chemistry, Physiology/Medicine and Literature.

Heikensten said the Nobel Foundation is worth Swedish Krona (SEK) 4 billion and it gives out SEK 8 million as Nobel Prize Award money to each of the four or five winners. Out of SEK 4 billion, 2.5% to 3% of the fund is spent each year on awards, selection process, administration and awards festivities in Stockholm, Oslo. Of the remaining fund, 55% is invested in equities, 20% in fixed deposits/bonds, 25% in alternative investment like hedge funds, real estate and some in private equity. The funds have grown between 5% and 16% in last five years.

This is the first time the foundation is participating in any Indian investment forum (Vibrant Gujarat Global Summit) along with a galaxy of Nobel laureates.

“My area of responsibility is dealing with all the assets that Alfred Nobel left in the system together,” said Heikensten. He not only manages funds, but also manages the most important asset – ‘Nobel Prize’.

Talking about Nobel Foundation investment and the global economic scenario, he pointed out that mainly due to stimulating monetary policy, the financial market did better last year.