EXCEPTIONALLY HIGH RETURN: NBIM CEO Presents Before Norway’s Standing Committee

Yngve Slyngstad

Yngve Slyngstad, the CEO of Norges Bank Investment Management (NBIM), gave a speech to Norway’s Standing Committee on Finance and Economic Affairs of the Storting. He started off by mentioning the country’s sovereign wealth fund had its value surpass 8 trillion NOK. First quarter returns for Norway’s Government Pension Fund Global (GPFG) stood at 3.8%, the third best quarter for the fund since its inception.

Norway’s GPFG pivoted and increased its long-term target equity share from 60% to 62.5%. In addition, the total real estate allocation for the fund has a 7% limit.

Slyngstad stated, “We have seen exceptionally high return over the past five years. Looking ahead, we must be prepared for periods of substantial declines in value.”

Here is the speech.

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