The Asset Management Department
The Asset Management Department is headed by Director General Espen Erlandsen, and was established in September 2006.
The Department is responsible for the Ministry’s work on the Government Pension Fund. The Government Pension Fund is comprised of the Government Pension Fund Global (previously the Government Petroleum Fund) and The Government Pension Fund Norway. The Ministry is responsible for these funds, and the operational management is carried out by Norges Bank (the central bank of Norway) and Folketrygdfondet, respectively.
The department's responsibilities include investment strategy for the funds, evaluation and follow-up of the operational management by Norges Bank and Folketrygdfondet, and development and implementation of of the framework for responsible management practices.