The Government Pension Fund

Tobacco producers excluded from the Government Pension Fund Global

[News story, Ministry of Finance, 08.05.2013]

The Ministry of Finance has excluded the American company Schweitzer-Mauduit International Inc. and the Chinese company Huabao International Holdings Limited from the investment universe of the Norwegian Government Pension Fund Global (GPFG) on account of their tobacco production. The decision is based on a recommendation from the Council on Ethics for the Fund.

Good long-term management of the Government Pension Fund

[Press release, Ministry of Finance, 12.04.2013]

The Government is today submitting its report to the Storting on the management of the Government Pension Fund in 2012. – The Fund makes a major contribution to safeguarding welfare, whilst at the same time enabling us to save for future generations, says the Minister of Finance, Sigbjørn Johnsen.

Strategy Council to look at responsible investment practice in the Government Pension Fund

[News story, Ministry of Finance, 15.01.2013]

The Ministry of Finance has asked the Strategy Council for the Government Pension Fund Global (GPFG) to write a report on the strategy for responsible investment. The report will be presented autumn 2013. - Our ambition is that the management of the Government Pension Fund shall represent best practice for responsible investment. The Mandate given to the new Strategy Council is written with this in mind, says Finance Minister Sigbjørn Johnsen.

Members of the Strategy Council 2013

[Article, Ministry of Finance, 15.01.2013]

Mandate – Strategy Council 2013

[Article, Ministry of Finance, 15.01.2013]

New decisions about the Government Pension Fund Global

[News story, Ministry of Finance, 11.01.2013]

Three companies have been re-included and two companies have been excluded from the investment universe of the Government Pension Fund Global (GPFG).

Observation of Siemens concluded

[News story, Ministry of Finance, 11.01.2013]

In 2007, the Council on Ethics recommended the exclusion of Siemens AG due to corruption. The Ministry of Finance decided to place the company under observation in March 2009. The Ministry has now decided to end the observation of Siemens, based on a recommendation from the Council on Ethics.

Risk and management costs (GPFN)

[Article, Ministry of Finance, 17.12.2012]

According to the mandate from the Ministry of Finance, the actual asset management costs of Folketrygdfondet are covered within a limit, which is fixed as a Norwegian kroner amount. The Norwegian kroner amount is determined on the basis of a reasoned proposal from Folketrygdfondet. The Ministry subsequently defines a limit as to the overall cost amount.

Fund performance (GPFN)

[Article, Ministry of Finance, 17.12.2012]

The GPFN registered a rate of return of 12.2 percent in 2012, as measured in Norwegian kroner and before the deduction of asset management costs.The return on the Norwegian and Nordic equity portfolio was 14.7 and 15.7 percent, respectively. The Norwegian fixed-income portfolio returned 9.1 percent, whilst the Nordic fixed-income portfolio delivered a return of 2.3 percent.

Market value (GPFN)

[Article, Ministry of Finance, 17.12.2012]

The market value of the GPFN was NOK 145 billion at the end 2012. This represents an increase of about NOK 16 billion since the beginning of the year. Approximately 62.5 percent of the market value of the Fund was invested in equities, whilst 37.5 percent was invested in fixed-income securities.