GAPP Principle 20

The SWF should not seek or take advantage of privileged information or inappropriate influence by the broader government in competing with private entities.

Status: Implemented

The GPFN is managed by a separate asset manager, Folketrygdfondet. The division of roles and responsibilities between the Ministry of Finance (asset owner) and Folketrygdfondet (operational manager) entails that Folketrygdfondet has no access to privileged information from the broader government. Folketrygdfondet makes investment decisions based on publicly available information. In the event that Folketrygd- fondet as an investor or potential investor obtains privileged information, laws and regulations as well as internal guidelines are abided by to make sure that (i) such information is not used in investment decisions and (ii) confidentiality is observed.

Sources: Government Pension Fund Act, GPFN mandate, Folketrygdfondet’s website.