News, press releases, speeches and articles, people and units from previous governments and other outdated content can be found in the Historical Archive.
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Meld. St. 32 (2019–2020) - The Government Pension Fund 2020
Meld. St. 32 (2019–2020) Report to the Storting (white paper)
21/09/2020 Report to the Storting Ministry of Finance -
Meld. St. 22 (2023–2024) - The Government Pension Fund 2024
Executive summary
12/04/2024 Report to the Storting Ministry of Finance -
Meld. St. 22 (2024–2025)
The Government Pension Fund 2025
19/09/2025 Report Ministry of FinanceExecutive summary
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Meld. St. 17 (2022–2023) - The Government Pension Fund 2023
31/03/2023 Report to the Storting Ministry of Finance -
Meld. St. 20 (2018–2019) - The Government Pension Fund 2019
Meld. St. 20 (2018–2019) Report to the Storting (white paper)
05/04/2019 Report to the Storting Ministry of Finance -
Meld. St. 21 (2014–2015) - The Management of the Government Pension Fund in 2014
Meld. St. 21 (2014–2015) Report to the Storting (white paper)
10/04/2015 Report to the Storting Ministry of Finance -
Meld. St. 23 (2015–2016) - The Management of the Government Pension Fund in 2015
05/04/2016 Report to the Storting Ministry of Finance -
Market Value
10/04/2025 Article Ministry of FinanceGovernment Pension Fund Norway market value from 1996 to 2024. NOK billion1 1 A major part of the GPFN assets was invested with the Treasury in the form of mandatory deposits until 2005. Folketrygdfondet’s participation in the mandatory deposit
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Fund Performance
10/04/2025 Article Ministry of FinanceGPFN annual geometric average return. Measured in Norwegian kroner. Per cent 2024 Last 5 years Last 10 years Since 2007 GPNF Portfolio 7,65 7,30 7,53 7,39 Benchmark index 6,50 6,27 6,68 6,39 Excess return (percentage points) 1,15 1,03 0,85 1,00
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Investment Strategy
12/05/2021 Article Ministry of FinanceThe 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.
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Government Pension Fund and the Santiago principles
31/01/2023 Article Ministry of FinanceThe International Forum of Sovereign Wealth Funds (IFSWF) was established in 2009 with the purpose of promoting the Santiago Principles. Norway is not a member of the IFSWF, but fully supports these principles.
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NOU 2015: 9 - Fiscal policy in an oil economy
The application of the fiscal rule
18/06/2015 Norwegian Official Report (NOU) Ministry of Finance -
Meld. St. 13 (2017–2018) - The Government Pension Fund 2018
Meld. St. 13 (2017–2018) Report to the Storting (white paper)
10/04/2018 Report to the Storting Ministry of Finance -
Norwegian Government Pension Fund and the Santiago principles
12/10/2015 Guidelines/brochures Ministry of FinanceNorway supports the international guidelines for sovereign wealth funds, the so called Santiago-principles or Generally Accepted Practices and Principles for Sovereign Wealth Funds (GAPP).
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Meld. St. 26 (2016–2017) - The Management of the Government Pension Fund in 2016
Meld. St. 26 (2016–2017) Report to the Storting (white paper)
31/03/2017 Report to the Storting Ministry of Finance -
Meld. St. 22 (2024–2025) - The Government Pension Fund 2025
Executive summary
10/04/2025 Report to the Storting Ministry of Finance -
Meld. St. 24 (2020–2021) - The Government Pension Fund 2021
Chapter 1: Executive summary
09/04/2021 Report to the Storting Ministry of Finance -
Meld. St. 9 (2021–2022) - The Government Pension Fund 2022
Chapter 1
01/04/2022 Report to the Storting Ministry of Finance -
Adherence of the Government Pension Fund Norway (GPFN) to the Santiago principles
27/06/2023 Guidelines/brochures Ministry of FinanceThe Ministry of Finance has recently conducted an update of the self-assessments of the Government Pension Fund’s adherence to the Santiago Principles, cf. separate reviews of the GPFG and the GPFN, respectively. This self-assessment documents the
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Meld. St. 27 (2012-2013) - The Management of the Government Pension Fund in 2012
12/04/2013 Report to the Storting Ministry of Finance