Government Pension Fund Global
Norges Bank Investment Management (NBIM) manages the Norwegian Government Pension Fund Global. NBIM 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 NBIM and discussions in Parliament.
See www.nbim.no for more information about the fund.
Foreign exchange reserves
The foreign exchange reserves shall be available for interventions in the foreign exchange market in connection with the implementation of monetary policy or in the interest of promoting financial stability.
The foreign exchange reserves are divided into a money market portfolio and a long-term portfolio. In addition, a buffer portfolio has been established for foreign exchange purchased to build up the Government Pension Fund Global.
The long-term portfolio accounts for the largest portion of the foreign exchange reserves, and is managed by Norges Bank Investment Management. The money market portfolio and the petroleum buffer portfolio are managed by the Department for Markets and Banking Services.