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 Norges Bank

Norges Bank is the central bank of Norway and shall promote economic stability in Norway. Norges Bank also manages the Government Pension Fund Global. The central bank does not offer any banking services to the general public.

The Government Pension Fund Global was set up in 1990 to underpin long-term considerations when phasing petroleum revenues into the Norwegian economy. The Government Pension Fund Global aims to make the most of its two distinguishing characteristics, its long-term approach and its considerable size, to generate strong returns and safeguard wealth for future generations.

The fund was set up to give the government room for manoeuvring in fiscal policy should oil prices drop or the mainland economy contract. It also served as a tool to manage the financial challenges of an ageing population and an expected drop in petroleum revenue. The fund was designed to be invested for the long term, but in a way that made it possible to draw on when required.

Norges Bank Investment Management manages the fund on behalf of the Ministry of Finance, which owns the fund on behalf of the Norwegian people. The ministry determines the fund´s investment strategy, following advice from among others Norges Bank Investment Management and discussions in Parliament. The management mandate defines the investment universe and the fund´s strategic reference index.

The ministry regularly transfers petroleum revenue to the fund. The capital is invested abroad, to avoid overheating the Norwegian economy and to shield it from the effects of oil price fluctuations. The fund invests in international equity and fixed-income markets and real estate. The aim is to have a diversified investment mix that will give the highest possible risk-adjusted return within the guidelines set by the ministry.

Det Norske Myntverket in Kongsberg, mark all the Norwegian coins with the traditional mining mark - crossed pick and hammer.


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