Expert Group to Assess Norway’s Sovereign Wealth Fund Active Management

Posted on 08/10/2021


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

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

The Ministry conducts regular reviews of the management of the GPFG, most recently in 2018 when an expert group consisting of Magnus Dahlquist and Bernt Arne Ødegaard on behalf of the Ministry prepared a report on the active management of the GPFG. In line with this, the Ministry has initiated a new review, including setting up an expert group to assess the basis for the strategies that Norges Bank uses in the management of the fund and analyze results in the active management.

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