Last updated: 07/10/2019 Since 1998 the fund has generated an annual return of 5.8 percent, or 5,170 billion kroner. Norway’s domestic wealth fund has become so big that it’s looking for ways to get rid of excess cash by proposing some key changes to its investment model. Add to myFT Digest. the Government Pension Fund Norway ("GPFN"). The Fund is an extraordinary endowment, and the evaluation we We share internal research and analysis as well as content from conferences or seminars. Search in all of the fund’s investments by country, asset class and sector. The capital base of GPFN originates primarily from surpluses in the national insurance scheme between its introduction in 1967 and the late 1970s. Aggregate market value of the Government Pension Fund was 10,655 billion Norwegian kroner at the end of the first half of 2020. Our core business, which is governed by the Government … This makes it the largest pension fund in the world. Furthermore, the revenues from petroleum activites fluctuate significantly, in particular due to oil price volatility. Norway's giant pension fund is now worth over $1 trillion. Aggregate market value of the Government Pension Fund was 10,655 billion Norwegian kroner at the end of the first half of 2020. The new legislation … The aim of the oil fund is to ensure responsible and long-term management of revenue from Norway’s oil and gas resources in the North Sea so that this wealth benefits both current and future generations. The Asset Management Department Norges Bank Investment Management (NBIM) manages the Norwegian Government Pension Fund Global. The aim of the oil fund is to ensure responsible and long-term management of revenue from Norway’s oil and gas resources in the North Sea so that this wealth benefits both current and future generations. The fund's market value is affected by investment returns, capital inflow and withdrawals, and exchange rate movements. By the end of 2020 the government expects the fund—officially known as the Government Pension Fund Global—to be worth the equivalent of $1.1 trillion in today’s money. Phone: +47 22 24 41 63 Occupational Pensions. It continues to be managed by a separate board and separate government entity, still named Folketrygdfondet. In 2007, the Government Pension Fund of Norway became the largest national wealth fund in Europe by value, and in 2019, its revenues surpassed USD 1 trillion. Fluctuations in the krone lie behind the remainder. Both funds merged in 2006 to make up the Government Pension Fund that consists of two parts, the Government Pension Funds - Global and the Government Pension Funds - Norway. Norway’s Government Pension Fund Global gets go ahead to divest $13bn of investments Jillian Ambrose Energy correspondent Wed 12 Jun 2019 11.56 EDT Last modified on Thu 13 Jun 2019 05.38 EDT The fund has shareholding in several blue chip names like Reliance Industries, HDFC, Infosys and Tata Consultancy Services (TCS). The name was changed at the same time as the former Petroleum Fund, on 1 January 2006. The fund’s formal name is the Government Pension Fund Global. THE WORLD’s largest sovereign-wealth fund is now a little bit smaller. Visitor address: Akersgata 40, 0030 Oslo. We are mindful that this is a service for the Norwegian people and that it addresses questions of importance to their economic future. E-mail: postmottak@fin.dep.no The fund’s investment decisions are based on research and analysis of the developments in financial markets and the global economy. At the end of 2019, the fund’s market value was around NOK 10 000 billion. We have more than 1.2 million active members, in excess of 450 000 pensioners and beneficiaries, and assets worth more than R1.61 trillion. with Norway’s Government Pension Fund Global behind by nearly $400 billion. Address: Postboks 8008 Dep, 0030 Oslo Investments are spread across most markets, countries and currencies to achieve broad exposure to global growth and value creation, and ensure good risk diversification. Enable Javascript in your browser for an improved experience of regjeringen.no. Set up in 2007 with $200 billion in capital and a mandate to … Norwegian Government Pension Fund Global (“GPFG” or the “Fund” hereafter). The Government Pension Fund Global, originally called the Government Petroleum Fund, was established in 1990 to ensure a long-term perspective in the management of government petroleum revenues. The value passed NOK 4000 billion in February this year. Earnings, value and EMs: the market trends for 2021 in charts ... Government Pension Fund of Norway Add to myFT. Pension provision is compulsory in Norway under specific conditions that are related to the number of employees and their working hours. The strong performance was a sharp turnaround from 2018, when the fund lost 6.1%, and raised its total asset value to 10.09 trillion, or approximately $1.07 trillion. This information is updated annually and is available for every year since our first investment in 1998. Most of the fund is invested in equities, which are ownership interests in companies. Government Pension Fund 1996 – 30 June 2020 Market value in NOK billion Today, we publish an historic review of the fund’s more than 20 years’ experience with investing in equities. The new TV comedy Oljefondet (‘The Oil Fund’), set in the offices of Norway’s $1trn sovereign wealth fund Government Pension Fund Global (GPFG), plays upon a rivalry between its slick chief investment officer Pep Grepp and its cardigan-clad, ‘do-gooder’ ethics committee. The Norwegian oil fund is one of the world's largest funds. The fund’s market value was 10,088 billion kroner at the end of 2019, up from 8,256 billion kroner a year earlier. Inflows from the government make up about a third. Source: Norway's Finance Ministry Still, the August withdrawal from the wealth fund comes as a surprise. China Investment Corporation—China. 10,088,082,903,897 2012 3,816 billion kroner 2013 5,038 billion kroner 2014 6,431 billion kroner 2009 2,640 billion kroner 2010 3,077 billion kroner The Government Employees Pension Fund (GEPF) is Africa’s largest pension fund. The latter reflects the old NIS Fund. The Government Pension Fund - Global (Norwegian: Statens pensjonsfond - Utland, SPU) is a fund into which the surplus wealth produced by Norwegian petroleum income is deposited. Norges Bank, Norway’s central bank, has a ticker on its website that is a real-time running tally of the fund’s … The people responsible for the Ministry of Finance's website: Editor-in-chief: Therese Riiser WålenWeb editor: Kari-Anne Røisgård, Olaug Vervik Bollestad (Christian Democratic Party), Kjell Ingolf Ropstad (Christian Democratic Party), Dag-Inge Ulstein (Christian Democratic Party), Ministry of Local Government and Modernisation, Linda Hofstad Helleland (Conservative Party), Ministry of Trade, Industry and Fisheries, Odd Emil Ingebrigtsen (Conservative Party), Knut Arild Hareide (Christian Democratic Party). We work to safeguard and build financial wealth for future generations. This corresponds more than NOK 1.8 million per registered person in Norway. The fund changed name in January 2006 from its previous name The Petroleum Fund of Norway.The fund is commonly referred to as The Oil Fund (Norwegian: Oljefondet).As of the … The future value of the fund depends on sustainable growth, well-functioning markets and value creation at the companies we invest in. The Fund's value passed NOK 2000 billion in October 2007 and NOK 3000 billion in 2010. The fund changed name in January 2006 from its previous name The Petroleum Fund of Norway.The fund is commonly referred to as The Oil Fund (Norwegian: Oljefondet).As of the … | Ministry of Finance. The fund’s formal name is the Government Pension Fund Global. FEATURED 2020/09/10 12:34:59 PRESIDENT BATTULGA PAYS TRIBUTE TO MEMORY OF THE REPRESSED About the fund Governance model. The fund — Government Pension Fund Global — had a return of minus 6.1 per cent in 2018, leading it to the largest ever annual drop in krone terms in its value. THE NORWEGIAN GOVERNMENT PENSION FUND GLOBAL: The Government Pension Fund Global, also known as the Oil Fund, was established in 1990 to invest the surplus revenues of the Norwegian petroleum sector. To change text size, press Ctrl (Cmd on a Mac) and press + to increase or - to decrease. The fund has a small stake in more than 9,000 companies worldwide, including the likes of Apple, Nestlé, Microsoft and Samsung. The second fund is the Government Pension Fund of Norway (GPFN). Norges Bank Investment Management and the Basel Institute on Governance have published a new guidance note, which contains indicators that we hope will contribute to better company reporting on the effectiveness of corporate anti-corruption efforts. GPFG is a sovereign fund where Norway's petroleum revenue is deposited, whereas GPFN is a "closed fund" which does not receive any new fund. Norway has a long history as an oil and gas producer, and the country used its oil wealth to build the world's largest sovereign wealth fund. 2. As of the end of March, the Norway fund had a market value of 8,938 billion kroner, which is equal to approximately $1.033 trillion at current exchange rates. It has over US$1 trillion in assets, including 1.3% of global stocks and shares, making it the world’s largest sovereign wealth fund. The Government Pension Fund – Norway (Norwegian: Statens pensjonsfond Norge, SPN) was established by the National Insurance Act (Folketrygdloven) in 1967 under the name National Insurance Scheme Fund (Norwegian: Folketrygdfondet). Academics and other independent experts were drafted in to help de… The fund exists to help finance the Norwegian welfare state for future generations. According to an annual disclosure made by the fund last month, India accounts for 1.2 per cent of the fund’s total equity exposure. The future value of the fund depends on sustainable growth, well-functioning … On average, the fund holds 1.5 percent of all of the world’s listed companies. The capital base of the GPFN originates primarily from surpluses in the national insurance scheme between its introduction in 1967 and the late 1970s. Even though economic experts were engaged to design the instrument, and broad political consensus allowed a lasting solution, there was little engagement of broader Norwegian society in the early years of the oil exploration and production. Another part is invested in bonds, which are a type of loan to governments and companies, and a final slice is invested in real estate. The GPFG accounted for about 97.5 percent of total assets. The Government Pension Fund – Norway had a value … Norway’s Government Pension Fund Global returned 19.9% in 2019, or 1,692 billion kroner ($180 billion), the highest annual return in kroner in the fund’s history. The Government Pension Fund - Global. The Government Pension Fund - Global. We invite to dialogue and have a strong collaboration with academics, peers and practitioners with an aim to improving the investment strategy and our results. The return on the assets in the GPFN is not transferred to the Treasury, but is added to the fund capital on an ongoing basis. Norway’s Government Pension Fund Global is a big investor in the Indian markets with assets of nearly $10 billion. GEPF is a defined benefit pension fund that was established in May 1996 when various public sector funds were consolidated. The accumulation of capital in the GPFG originates by and large from the conversion of oil and gas resources in the North Sea and Norwegian Sea to financial assets abroad. The Parliament adopts the Government Pension Fund Act, The fund's value reaches 10,000 billion kroner, Insights to our analyses, conferences and seminars, Guidance note on company reporting on anti-corruption efforts, Funding three research projects to study effects of corporate governance. Article | The GPFG accounted for about 97.5 percent of total assets. Yes, 1 followed by 12 zeros. Government Pension Fund 1996 – 30 June 2020Market value in NOK billion. This is the largest increase in the fund’s value in a single year in the fund’s history. Norges Bank Investment Management has awarded three research grants to study the effects of increasing institutional ownership on companies. Established in 1967 as something of a national insurance fund, it is smaller than the Oil Fund. Returns on the fund’s investments account for more than half of the fund's market value. 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