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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

See our film about the history, objective and management.


the fund's

We invest in almost 9,000 companies and have investments in 77 countries. The fund's annual holdings are available from 1998 to the end of 2016.

Global investments

36% Europe

42% North America

18% Asia and Oceania

4% Rest of the world



The fund's
investment s


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. 

Investment strategy

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 5.8 percent from the establishment of Norges Bank Investment Management in 1998 to the end of the first quarter of 2017, measured in the fund's currency basket. After management costs and inflation, the return was 3.9 percent.


Latest report





The Government Pension Fund Global returned 3.8 percent, or 297 billion kroner, in the first quarter of 2017.


1Q 2017 report