To support the Executive Board documents the CEO of NBIM has issued a set of policies.
NBIM POLICY ON ORGANISATION & MANAGEMENT -
01 DECEMBER 2011
All employees will be representing NBIM vis-à-vis the outside world. NBIM requires that employee’s personal and professional conduct is in line with the profile of NBIM. When meeting with external relations, employees should treat them in a proper, respectful and representative manner.
NBIM POLICY ON INVESTMENT -
01 DECEMBER 2011
Norges Bank Investment Management's (NBIM) activities and the associated risks related to private real estate investments, differ significantly from those relating to fixed income instruments or publically listed securities.
NBIM POLICY ON INVESTMENT -
01 JULY 2011
All assets and liabilities managed by NBIM and real estate subsidiaries shall be included in financial reporting for the Government Pension Fund Global and Norges Bank, and measured at fair value where relevant, in accordance with international financial reporting standards (IFRS).
NBIM POLICY ON INVESTMENT -
01 JULY 2011
NBIM’s use of external fund managers is based on the rationale that specialist external expertise will contribute to investment return.
NBIM POLICY ON ORGANISATION & MANAGEMENT -
20 JUNE 2011
The long term success of NBIM depends on its capacity to attract, retain and develop employees to meet the established objectives. NBIM’s culture is the sum of the people, ideas, processes and values within the organisation, and to shape this culture, particular focus must be placed on recruitment and development of its human capital.
NBIM POLICY ON ORGANISATION & MANAGEMENT -
17 JUNE 2011
NBIM aims to be a respected, transparent and responsible manager of the portfolios. External communication shall support NBIM in pursuing these overall goals as described in its mandate, mission and strategy and shall promote the overall understanding and awareness of NBIM.
NBIM POLICY ON INVESTMENT -
19 MAY 2011
The goal of NBIM is to achieve the highest possible long-term return on the funds it manages within the risk parameters laid down.
NBIM POLICY ON ORGANISATION & MANAGEMENT -
07 DECEMBER 2010
NBIM procures a range of services from service providers as an alternative to retaining internal expertise and capacity to support the delivery of these services. Both initial and ongoing cost benefit analysis and due diligence must support the chosen sourcing strategy.
NBIM POLICY ON ORGANISATION & MANAGEMENT -
07 OCTOBER 2010
NBIM aims to reduce the probability of, and consequences following information security incidents. Security measures implemented shall be proportional to the risks they mitigate.
NBIM POLICY ON ORGANISATION & MANAGEMENT -
06 OCTOBER 2010
Business Continuity Management shall prepare NBIM for unexpected events where normal business is interrupted and normal work processes cease to function.
NBIM POLICY ON INVESTMENT -
22 DECEMBER 2009
NBIM shall ensure segregation of duties so that the requestor and approver of new counterparties are separated. The use of counterparties shall rest on a legal framework with appropriate agreements.
NBIM POLICY ON INVESTMENT -
16 DECEMBER 2009
NBIM is committed to measure performance according to industry practice and to ensure this, NBIM shall adhere to Global Investment Performance Standards (GIPS). To ensure fair value, the assets shall meet relevant International Financial Reporting Standards (IFRS) and the NBIM Accounting and Valuation policy.
NBIM POLICY ON ORGANISATION & MANAGEMENT -
12 OCTOBER 2009
NBIM prioritises the prevention of misconduct, fraud and corruption and promotes a culture of openness and transparency.
NBIM POLICY ON INVESTMENT-
15 APRIL 2009
NBIM shall ensure segregation of duties between a recipient of an investment mandate who shall ensure that market risk is taken and managed, and an independent risk management function which shall identify, assess, measure, monitor, manage and report market risk.
NBIM POLICY ON INVESTMENT -
23 JANUARY 2009
NBIM shall ensure segregation of duties between a recipient of an investment mandate who shall ensure that credit risk is taken and managed and an independent risk management function which shall identify, assess, measure, monitor, manage and report credit risk.
NBIM POLICY ON ORGANISATION & MANAGEMENT -
15 DECEMBER 2008
The purpose of operational risk management is to systematically identify risk across the organisation, and to initiate necessary risk reducing measures to prevent unnecessary loss. Operational risk management is a tool for prioritizing resources, and to balance the costs of risk and risk mitigating activities.
NBIM POLICY ON ORGANISATION & MANAGEMENT -
11 NOVEMBER 2008
NBIM shall safeguard the legal interests related to Norges Bank’s role as an asset manager and its position as the legal owner of the assets under management.
NBIM POLICY ON INVESTMENT-
10 NOVEMBER 2008
NBIM invests in a broad range of instruments and countries in order to achieve its investment objectives. These instruments and countries constitute the NBIM instrument universe.
NBIM POLICY ON ORGANISATION & MANAGEMENT -
17 OCTOBER 2008
Decision making structures shall be designed with the objective of promoting transparency and placing authority and accountability at appropriate levels of the organisation. Such structures shall further ensure sound governance, operational efficiency and sufficient segregation of duties in order to prevent fraud and errors.
