The Government Pension Fund of Norway

The Government Pension Fund of the Kingdom of Norway ( Norwegian called Statens pensjonsfond or Oljefondet ) is the largest sovereign wealth fund in the world. Assets under management at the end of October 2012 amounted to 3,723 billion Norwegian kroner, around 508 billion euros. In the third quarter of 2012, it generated a return of 4.7 percent.

The fund intends to invest oil revenues to provide for the time in which to go, the oil reserves of the North Sea are running out. 2010 Norway was the ninth-largest oil exporter in the world and was the total funding to rank 14

The Fund consists of two sub-funds, which were merged in 2006:

• Statens pensjonsfond Norge (Eng. The State Pension Fund Norway): This fund is part of managing the funds of social insurance and was established in 1967. The fund is to be ensured that the social contributions are invested as profitably as possible.
• Statens pensjonsfond utland (German Interstate pension funds abroad): In 1990, the oil fund was established which receives the direct revenues from oil production to this day. Formally, the Norwegian Ministry of Finance is the owner of the fund, it also decides on its fundamental strategic orientation. The investments are also subject to fundamental ethical, social and environmental rules. This holdings are excluded on a number of companies, such as in the defense industry. The administration of the Fund shall be within these guidelines the Norwegian National Bank. The funds are invested only in stocks, bonds and other securities abroad.