Government Pension Fund of Norway

Government Pension Fund of Norway

Value of the fund over time in billion Krone
Company type	Government-owned
Founded	1967 1990
Headquarters	Oslo, Norway
AUM	US$ 1.681 trillion (May 2024)
Owner	Government of Norway Government Pension Fund Global managed by state-owned Norges Bank

The Government Pension Fund of Norway (Norwegian: Statens pensjonsfond) is composed of two entirely separate sovereign wealth funds owned by the government of Norway.

The Government Pension Fund Global (Statens pensjonsfond utland), also known as the Oil Fund (Oljefondet), was established in 1990 to invest the surplus revenues of the Norwegian petroleum sector. As of March 2024,^[update] it had over US$1.62 trillion in assets,^[1] and held on average 1.5% of all of the world's listed companies, making it the world's largest single sovereign wealth fund in terms of total assets under management.^[2][3] This translates to over US$295,000 per Norwegian citizen.^[4] It also holds portfolios of real estate and fixed-income investments. Many companies are excluded by the fund on ethical grounds.^[5]

The Government Pension Fund Norway is smaller and was established in 1967 as a type of national insurance fund. It is managed separately from the Oil Fund and is limited to domestic and Nordic investments and is therefore a key stock holder in many large Norwegian companies, predominantly via the Oslo Stock Exchange.