Government Pension Fund Global
Norges Bank Investment Management manages the Norwegian Government Pension Fund Global. 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.
See www.nbim.no for more information about the fund.
Foreign exchange reserves
Foreign exchange reserves are to be used for transactions in the foreign exchange market in support of monetary policy or financial stability. In addition, foreign exchange reserves are used to meet Norway's international obligations.
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.