Our goal is to maximise return after costs, given an acceptable level of risk. To achieve this, we use a range of investment strategies and take advantage of the fund being large and long-term.

Letter to the International Organization of Securities Commissions, 27 February 2024.

invested in international securities and unlisted real estate and infrastructure in foreign currency. Returns are measured primarily in international currency

Letter to the OECD

Letter to the Centre for Tax Policy and Administration, 5 March 2020

Letter to the Japan Financial Services Agency and the Japan Exchange, 6 December 2022.

Letter to the Global Sustainability Standards Board, 11 March 2019

Letter sent to the Ministry of Finance, 29 October 2018

Norges Bank Investment Management diversifies its investments across many markets, securities and asset classes. Responsible investment management shall support the financial objective of the fund by furthering the long-term economic performance of

Our view on employee share ownership.

In 20 years, the fund has grown to become the largest single owner in the world’s stock markets. How we exercise our rights and manage our responsibilities as an owner has evolved rapidly. In this review, we share our experience as an investor in

Letter to the International Accounting Standards Board, 27 November 2024.

Our mandate is to generate financial returns for current and future generations of Norwegians. This requires that our investments achieve sustainable value over time. In 2025, we launched our updated Climate action plan towards 2030, improved our

Letter sent to the EFRAG European Corporate Reporting Lab 30 September 2019

This report provides an account of how we have implemented Strategy 25 across its five pillars: Performance, Technology, Operational Robustness, People, and Communication.