Investments
Asset mix
The Ministry of Finance selects the asset classes and regions the Government Pension Fund Global invests in. These selections are known as the fund’s strategic investment weights and are regularly reviewed.
The fund got a mandate in March 2010 to gradually invest as much as 5 percent of its assets in real estate, reducing its share of fixed-income investments correspondingly. Following this decision, the fund’s investments shall consist of 60 percent equities, 35–40 percent fixed-income securities and as much as 5 percent real estate. All investments must be outside Norway.
The fund shall have 50 percent of its equity investments in Europe, 35 percent in the Americas, Africa and the Middle East, as well as 15 percent in Asia and Oceania. It shall have 60 percent of its fixed-income investments in Europe, 35 percent in the Americas and 5 percent in Asia and Oceania.
Real estate investments shall be spread over different types of sectors, properties and securities in European countries except Norway. The fund will mainly invest in unlisted real estate, well-developed property markets and traditional property types. Investments will be funded with capital from the fixed-income portfolio.
The fund may hold as much as 10 percent of the shares in a publicly-listed company.
