Expert group to assess the active management of Norwegian sovereign wealth funds


Posted on 10/08/2021

The Norwegian Ministry of Finance has overall responsibility for the management of the Norway Government Pension Fund Global (GPFG). Norges Bank is responsible for the operational implementation of fund management, within a mandate defined by the ministry. Norges Bank Investment Management (NBIM), part of Norges Bank, manages the assets of GPFG.

In early July 2021, the Ministry of Finance set up an expert group to assess Norges Bank’s active management of the Government Pension Fund Global. The group is made up of Professor Rob Bauer from Maastricht University, Professor Charlotte Christiansen from Aarhus University and Professor Trond Døskeland from the Norwegian School of Management. The expert group will prepare a report that will be published and discussed in the annual State Pension Fund report, which will be presented in spring 2022.

The ministry conducts regular reviews of the management of the GPFG, most recently in 2018 when a panel of experts consisting of Magnus Dahlquist and Bernt Arne Ødegaard on behalf of the ministry prepared a report on the active management of the GPFG. With this in mind, the ministry has launched a new review, including the establishment of a group of experts to assess the basis of the strategies used by Norges Bank in the management of the fund and analyze the results of active management.

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