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.

Governance Framework

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. The Ministry has issued provisions on the management in a separate mandate.

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.

Strategic Benchmark Index

The benchmark index adopted by the Ministry forms the basis for the management of the GPFN. The benchmark is divided into equities (60 percent) and fixed income instruments (40 percent), and into two geographical regions; Norway (85 percent) and the Nordic region excluding Iceland (15 percent).


Report to the Storting:

Further development of the management of the Government Pension Fund

– Norges Bank and Folketrygdfondet have managed the Government Pension Fund Global and the Government Pension Fund Norway, respectively, in a sound manner over time. We will build on that. In this report, the Government proposes new steps to further develop the investment strategy of the two funds, says the Minister of Finance, Siv Jensen.

More on Government Pension Fund Norway (GPFN)




The Asset Management Department

Phone: +47 22 24 41 63
Address: Postboks 8008 Dep, 0030 Oslo