Norway endorses the Santiago principles

Norway supports the Generally Accepted Principles and Practices (GAPP) for Sovereign Wealth Funds which have now been made public.

- The Santiago-principles outline a set of sensible principles for the organization and management of sovereign wealth funds (SWF) that can build trust with recipient countries and in financial markets, says Norwegian Minister of Finance, Ms Kristin Halvorsen.

- The document and the principles are a solid piece of work, especially considering the short time period at disposal on a technically complex area with a heterogeneous group of countries. This is an important contribution to avoid the financial protectionism and investment restrictions that would be to the detriment of investor and recipient countries alike, says Ms Halvorsen.

The Generally Accepted Principles and Practices (GAPP) document of the The International Working Group of Sovereign Wealth Funds is available here.

Norway’s endorsement of the Santiago principles is not expected to lead to changes in the management of the Government Pension Fund. Information on the Fund is available here.