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The Government Pension Fund

Large petroleum revenues have resulted in substantial financial assets in the Government Pension Fund. The purpose of the Government Pension Fund is to facilitate government savings necessary to meet the rapid rise in public pension expenditures in the coming years, and to support a long-term management of petroleum revenues.

The Government Pension Fund

The Government Pension Fund was established in 2006 and consists of two parts: "The Government Pension Fund Global", which is a continuation of the Petroleum Fund, and "The Government Pension Fund Norway", which was previously known as the National Insurance Scheme Fund. Revenues in the Government Pension Fund Global consist of the Government's total income from petroleum activities, and the return on the Fund's investments. The Ministry of Finance is responsible for the management of the Fund. The operational management of the Government Pension Fund Global is delegated to Norges Bank. The operational management of the Government Pension Fund Norway is delegated to the National Insurance Scheme Fund. The management is carried out in accordance with regulations laid down by the Ministry of Finance.

Report No. 17 to the Storting

Further development of the investment strategy for the Government Pension Fund Global

[Press release, Ministry of Finance, 30.03.2012]

“The Norwegian Government is today presenting a report to Parliament (Storting) on the management of the Government Pension Fund in 2011. In line with what we announced last year, we are now preparing to make changes to the investment strategy for the Government Pension Fund Global in several important areas,” says Sigbjørn Johnsen, Norway’s Minister of Finance.

Report No. 17 to the Storting

Long-term, good management of our common savings

[Press release, Ministry of Finance, 30.03.2012]

“Long-term, good management means that the assets in the Government Pension Fund can benefit both current and future generations. The investment strategy will be further developed. In line with what we announced last year, we are now preparing to make changes to the strategy in several areas. This will strengthen the foundations for the investments,” says Sigbjørn Johnsen, Norway’s Minister of Finance.

Government Pension Fund Global: Company placed on observation list

[News story, Ministry of Finance, 06.12.2011]

The Ministry of Finance has decided to put Alstom S.A. on its observation list due to the risk of gross corruption in the company’s operations. The Council on Ethics shall observe the company over a four year period.

Government Pension Fund Global: Two companies excluded from the Fund’s investment universe

[News story, Ministry of Finance, 06.12.2011]

The Ministry of Finance has excluded the US company FMC Corporation and the Canadian company Potash Corporation of Saskatchewan (Potash) from the GPFG investment universe. The companies’ conduct represents particularly serious violations of fundamental ethical norms, as defined by the Ethical Guidelines. The breaches result from the companies’ purchases of phosphate from Western Sahara.

Government Pension Fund Global: The Ministry of Finance does not exclude PetroChina

[News story, Ministry of Finance, 06.12.2011]

The Ministry of Finance has decided not to follow a recommendation from the Council on Ethics for the Government Pension Fund Global (GPFG) to exclude the company PetroChina Co. Ltd. from the fund’s investment universe.

Mr. Pål Haugerud, Director General in the Asset Management Department

The Investment Strategy Summit 2011

[News story, Ministry of Finance, 11.11.2011]

"The intention was to initiate and encourage a public debate on issues related to the development of the investment strategy of the Fund over time. In that respect, we can clearly call this a success", said Mr. Pål Haugerud, Director General in the Asset Management Department.

Professor Elroy Dimson

Video: Investment Strategy Summit 2011

[Mediaobject, Ministry of Finance, 08.11.2011]

State Secretary Hilde Singsaas

Speech: Investment Strategy Summit 2011

[Speech/article, Ministry of Finance, 08.11.2011]

The Government’s ambition is to pursue a policy based on sound, long-term management of Norway’s petroleum wealth. Our job is to ensure that this wealth can benefit all generations, said State Secretary Hilde Singsaas.

Tobacco producer excluded from the Government Pension Fund Global

Tobacco producer excluded from the Government Pension Fund Global

[News story, Ministry of Finance, 24.08.2011]

The Ministry of Finance has excluded the Mexican company Grupo Carso SAB de CV from the investment universe of the Government Pension Fund Global on account of its tobacco production.

The Norwegian Government Pension Funds adherence with the Santiago principles

The Norwegian Government Pension Fund's adherence with the Santiago principles

[Guidelines and brochures, Ministry of Finance, 06.05.2011]

Norway supports the international guidelines for sovereign wealth funds, the so called Santiago-principles or Generally Accepted Practices and Principles for Sovereign Wealth Funds (GAPP). The principles represent minimum standards which the management framework for the Government Pension Fund already fulfills.

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Asset Management Department

Telephone: +47 22 24 41 63
Fax: +47 22 24 95 91

Address

The Ministry of Finance
Asset Management Department
P.O. Box 8008 Dep
0030 Oslo
Norway

Old Government Building: Stairway

The Government Pension Fund

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Contact information

Asset Management Department

Telephone: +47 22 24 41 63
Fax: +47 22 24 95 91

Address

The Ministry of Finance
Asset Management Department
P.O. Box 8008 Dep
0030 Oslo
Norway

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