A Norwegian emerging-market asset manager is finding a risky new trade is paying off: buying sanctioned Chinese stocks from Americans forced to dump them.
Fredrik Bjelland, head of private Skagen AS’s emerging-market equity fund in Stavenger, Norway, says almost a third of his nearly $1.5 billion portfolio is in Chinese stocks. Before joining Skagen in 2017, Bjelland was the Shanghai-based head of China for Norway’s sovereign wealth fund, the world’s biggest single owner of equities.
