Expert group to analyse active management in GPFG

The Ministry announced, in Report No. 10 (2009-2010) to the Storting  on the Management of the Government Pension Fund in 2009, its intention to conduct broad and regular reviews of active management of the GPFG at the beginning of each term of the Storting. The Ministry has, in line with this, embarked on a comprehensive review of Norges Bank’s management of the GPFG.

The Ministry has, as part of such a review, appointed a group comprising three international recognised experts with broad knowledge and experience from both academia and practical asset management: Professor Andrew Ang (Columbia Business School), Professor Michael Brandt (Duke University) and David Denison (former head of the Canadian pension fund manager CPPIB). The group will be analysing the active management performance of Norges Bank and assess whether the  continued delegation of asset management tasks to the Bank may improve the ratio between return and risk beyond the benchmark index stipulated by the Ministry.

The expert group will make a report that will be discussed in the annual Report on the management of the Government Pension Fund to be presented to the Storting in the spring of 2014 and will be made public on the Ministry’s website.

The mandate to the expert group.