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Investment Strategy

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

The Storting has, in the Government Pension Fund Act, accorded the Ministry of Finance formal responsibility for the management of the Fund. Operational management of the Government Pension Fund Global (GPFG) is carried out by Norges Bank.

Investment Strategy

The Government Pension Fund consists of the Government Pension Fund Global (GPFG) and the Government Pension Fund Norway (GPFN). The investment strategy for the Government Pension Fund is premised on seeking to maximise the return on fund assets

Meld. St. 31 (2020–2021) - Financial Markets Report 2021

Meld. St. 31 (2020–2021) Report to the Storting (white paper) Summary

Meld. St. 24 (2020–2021) - The Government Pension Fund 2021

Chapter 1: Executive summary

NOU 2021: 4 - Norway towards 2025 – Summary

Meld. St. 14 (2020–2021) - Long-term Perspectives on the Norwegian Economy 2021

Chapter 1

Meld. St. 32 (2019–2020) - The Government Pension Fund 2020

Meld. St. 32 (2019–2020) Report to the Storting (white paper)

NOU 2020: 7 - Values and Responsibility

The Ethical Framework for the Norwegian Government Pension Fund Global

Meld. St. 22 (2019–2020) - Financial Markets Report 2020

Meld. St. 22 (2019–2020) Report to the Storting (white paper) Summary

Additional information concerning the tax on chocolate and sugar products

NOU 2019: 18 - Chapter 1: Introduction and summary

Management Provisions

The framework for the Government Pension Fund and the management of fund assets are laid down by Act of Parliament and guidelines with supplementary provisions.

The Report on Energy Stocks in the Government Pension Fund Global

On 12 June, the Storting deliberated Meld. St. 14 (2018-2019), Energy Stocks in the Government Pension Fund Global. The report proposed omitting equity investments in companies classified as exploration and production companies from the benchmark

Revised strategy for combating work-related crime (2019–)

The Government presented its strategy for combating work-related crime in 2015. The strategy was revised and updated in 2017, and it has now also been subject to a new revision in February 2019.

Meld. St. 24 (2018–2019) - Financial Markets Report 2019

Meld. St. 24 (2018 – 2019) Report to the Storting (white paper) Summary

Response from Norway to the Reasoned Opinion on the Norwegian Reporting Obligation when hiring non-resident contractors

The Ministry of Finance's response to ESAs reasoned opinion on the Norwegian reporting obligations.

Meld. St. 20 (2018–2019) - The Government Pension Fund 2019

Meld. St. 20 (2018–2019) Report to the Storting (white paper)

Meld. St. 14 (2018–2019) - Energy Stocks in the Government Pension Fund Global

NOU 2018: 17 - Climate risk and the Norwegian economy