Government Pension Fund Norway (GPFN)

The capital base of the Government Pension Fund Norway (GPFN) originates primarily from surpluses in the national insurance scheme between the introduction of the national insurance scheme in 1967 and the late 1970s.

The capital base of the Government Pension Fund Norway (GPFN) originates primarily from surpluses in the national insurance scheme between the introduction of the national insurance scheme in 1967 and the late 1970s. The organisation of the GPFN was changed in 2007 by highlighting the distinction between the assets making up the GPFN and Folketrygdfondet as the manager of these assets. The assets were deposited with Folketrygdfondet, which manages the assets in its own name and in accordance with a mandate issued by the Ministry. The return on the assets in the GPFN is not transferred to the Treasury, but is added to the fund capital on an ongoing basis.

The Management of the Government Pension Fund in 2012 More on the GPFN in the annual report to the Storting
 

News:

A sound and responsible management of the Government Pension Fund

"The Government is today presenting a report to Parliament (Storting) on the management of the Government Pension Fund in 2013. - The Fund has served us well and it gives important contributions to the financing of our welfare state", says Minister of Finance Siv Jensen.

Fund performance (GPFN)

The GPFN registered a rate of return of 15.7 per cent in 2013, as measured in Norwegian kroner and before the deduction of asset management costs. The equity and fixed-income portfolios delivered an aggregate return of 24.2 and 3.1 per cent, respectively.

Market value (GPFN)

The market value of the GPFN was 168 billion Norwegian kroner at the end of 2013. This represents an increase of about 23 billion kroner since the beginning of the year. At yearend, 62.6 per cent of the Fund capital was invested in equities, whilst 37.4 per cent was invested in fixed-income securities.

Strategic benchmark index (GPFN)

The objective for the management of the GPFN is to maximise financial returns, given a moderate level of risk. The benchmark index adopted by the Ministry forms the basis for the management of the GPFN.

Investment Strategy for the (GPFN)

The objective for the management of the GPFN is to maximise financial returns measured in Norwegian kroner, given a moderate level of risk. The main part of the assets of the GPFN is invested in the Norwegian equity and fixed income markets.

Governance framework for the GPFN

The Storting has in the Government Pension Fund Act, made the Ministry of Finance responsible for the management of the Government Pension Fund Norway. Operational management of Fund is carried out by Folketrygdfondet.

Reports and letters submitted to the Ministry

More documents about this subject

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

Old Government Building: Stairway

Institutions linked to the Ministry

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