Nobel Foundation Seeks Looser Financial Reins

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Science  16 Jul 1999:
Vol. 285, Issue 5426, pp. 323-325
DOI: 10.1126/science.285.5426.323

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STOCKHOLM-- Long hamstrung by the stipulations of Alfred Nobel's will, the managers of the world's most famous prize fund have asked the Swedish government to relax the rules regulating its investment policies. The proposed changes would do away with outdated restrictions and give fund managers more flexibility to invest in equities rather than fixed-interest bonds, with the aim of increasing the prize money in future years. Nevertheless, the very idea of changing the rules governing the high-profile award fund has caused some alarm and highlighted the Nobel Foundation's almost iconic status in Sweden.