The Government Pension Fund

The purpose of the Government Pension Fund is to facilitate government savings to finance rising public pension expenditures, and support long-term considerations in the spending of government petroleum revenues. A sound long-term management of the Fund contributes to intergenerational equity, by allowing both current and future generations to benefit from the petroleum revenues.

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.

Governance Model

The Ministry of Finance holds the overall responsibility for the management of the Government Pension Fund. The operational management of the GPFG and GPFN is carried out by Norges Bank and Folketrygdfondet, respectively, under mandates laid down by the Ministry.

Investment Strategy

The investment strategy for the Fund is based on long-term considerations of different investment choices. Good financial return over time is deemed to be contingent on a sustainable development in economic, environmental and social terms, and on well-functioning, efficient and legitimate financial markets.

Current

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.

Report to the Storting:

New climate criterion for the exclusion of companies from the Government Pension Fund Global (GPFG)

The Government will introduce a new criterion to exclude companies whose conduct to an unacceptable degree entail greenhouse gas emissions. Together with a strengthening of active ownership, this represents a responsible investment practice that pays due heed to both the ethical and the financial aspects of climate change, within the role of the Fund as a financial investor, says the Minister of Finance, Siv Jensen.

Report to the Storting:

Expert group to advice on real estate and infrastructure investments

The Ministry of Finance has appointed an expert group to review real estate and infrastructure investments in the Government Pension Fund Global (GPFG). – We are continuously looking at how changes to the investment strategy may improve the return on the Fund, given a moderate level of risk, says the Minister of Finance, Siv Jensen.

More on The Government Pension Fund

Documents

Meld. St. 21 (2014-2015)

Management of the Government Pension Fund in 2014

The Government Pension Fund comprises the Government Pension Fund Global (GPFG) and the Government Pension Fund Norway (GPFN). The Funds are managed by Norges Bank and Folketrygdfondet, respectively, under mandates set by the Ministry of Finance.

Contact

The Asset Management Department

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