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Report on long term perspectives for the Government Pension Fund Global submitted by committee

Today, a committee that has been reviewing long term perspectives for the Government Pension Fund Global (GPFG) submitted its report, NOU 2022: 12 The Fund in a changing world, to the Ministry of Finance. The committee was chaired by Ulf Sverdrup,

NOU 2022: 12 - The Fund in a changing world

The Government Pension Fund Global and new economic and political developments

Meld. St. 14 (2020–2021) - Long-term Perspectives on the Norwegian Economy 2021

Chapter 1

Meld. St. 26 (2016–2017) - The Management of the Government Pension Fund in 2016

Meld. St. 26 (2016–2017) Report to the Storting (white paper)

Norwegian Government Pension Fund and the Santiago principles

Norway supports the international guidelines for sovereign wealth funds, the so called Santiago-principles or Generally Accepted Practices and Principles for Sovereign Wealth Funds (GAPP).

Fund Performance

GPFG annual geometric average return. Measured in the currency basket. Per cent Half year 2024 Last 5 years Last 10 years Last 20 years GPFG Portfolio 8.59 7.99 7.07 6.80 Benchmark index 8.62 7.57 6.83 6.59 Excess return (percentage points)1 -0.04

Investment Strategy

The objective of Fund investments is to achieve the highest possible return over time, given an acceptable level of risk. The Fund shall be managed responsibly within this overarching financial objective.

The Report on Energy Stocks in the Government Pension Fund Global

On 12 June, the Storting deliberated Meld. St. 14 (2018-2019), Energy Stocks in the Government Pension Fund Global. The report proposed omitting equity investments in companies classified as exploration and production companies from the benchmark

Meld. St. 14 (2018–2019) - Energy Stocks in the Government Pension Fund Global

NOU 2017: 13 - New central bank act

NOU 2016: 20 - Official Norwegian Report – The Equity Share of the Government Pension Fund Global

Unofficial translation of chapter 1

Meld. St. 27 (2012-2013) - The Management of the Government Pension Fund in 2012

Meld. St. 13 (2017–2018) - The Government Pension Fund 2018

Meld. St. 13 (2017–2018) Report to the Storting (white paper)

Annual Report to the Storting

Transparency is a prerequisite for ensuring widespread confidence in the management of the Government Pension Fund. The Ministry gives an account of the management of the Fund in an annual report to the Storting, as well as in the National Budget.

Norway to increase support to Ukraine and provide military equipment

The Norwegian Government has allocated up to NOK 2 billion for humanitarian assistance to Ukraine, and will provide military equipment such as helmets and bulletproof vests to the war-torn country. The Government will also align itself with the