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Strategy for 2020-2022

Norges Bank Investment Management's strategy for 2020–2022 sets the strategic direction for the next three years and continues in the direction set by the strategy for 2017–2019.

8 October 2019

In September 2017, the fund’s value passed 1 trillion US dollars. Trends and disruptions in the global economy such as increased trade barriers, low global interest rates, changing technology paradigms and climate change will affect the fund. We should be prepared for large fluctuations in the value of the fund.

Our management objective is to achieve the highest possible return after costs, and our direction for the next three years is to:

  • Complement the fund’s investments in equities and fixed income by investing in real estate and renewable energy infrastructure.
  • Exercise our ownership role to safeguard the fund’s long-term economic interests.
  • Utilise a set of diversified investment strategies in a risk-controlled and low-cost manner.
  • Foster a global, performance-oriented and efficient investment organisation.

Download the strategy plan