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The Fund's Market value


We work to safeguard and build
financial wealth for future generations

A film about the fund

The Norwegian people own the fund

Our mission is to safeguard and build financial wealth for the future generations of Norway. See our film about the fund's history, objective and management.

Global investments

36% Europe

41% North America

20% Asia and Oceania

3% Rest of the world

About the investments

Investment areas

Equities, Fixed Income and real estate

The fund is invested globally in international equities, fixed income and real estate. The goal is to have well diversified investments that distribute risk and generate the highest possible return within the mandate from the Ministry of Finance. 

More on the investment strategy


See all 

We invest in around 9,000 companies and have investments in 77 countries. The fund's annual holdings are available from 1998 to the end of 2017.

Responsible investment

Our focus areas

We work on selected issues that are relevant across multiple sectors, and have formulated expectations for how companies should manage risk and report on their activities. We have three focus areas dealing directly with environmental and social issues:

More on responsible investment

The fund's returns


Annual return

The fund generated an annual return of 6.1 percent from the establishment of Norges Bank Investment Management in 1998 to the end of 2017, measured in the fund's currency basket. After management costs and inflation, the return was 4.2 percent.


Annual report





The Government Pension Fund Global returned 13.7 percent, or 1,028 billion kroner, in 2017.

Equity investments returned 19.4 percent, while investments in unlisted real estate returned 7.5 percent. Fixed-income investments returned 3.3 percent.


Annual report 2017


Responsible investment

Our mission is to safeguard and build financial wealth for future generations. We manage the fund responsibly in order to support the investment objective of the highest possible return with a moderate level of risk. Read about our responsible investment in 2017.

Go to the report


Return and risk 2017

This publication gives an overview of the fund’s return and risk with a focus on equities and fixed income.

Go to the publication


Real estate investments 2017

The fund’s investments in unlisted real estate returned 7.5 percent in 2017.

Go to the publication


Exciting career opportunities

As manager of the Government Pension Fund Global, we can offer exciting careers with a high level of responsibility and independence. We operate in a competitive, dynamic and fast-paced multinational environment.

Career pages