News

The return to the Government Pension Fund Norway (SPN), ownership follow-up and the proposal for a new asset management unit in Tromsø were among the issues discussed at the Storting’s annual hearing on the Government Pension Fund.

The Ministry of Finance has asked Folketrygdfondet to submit a proposal for a new asset management unit in Tromsø. ‘A vote of confidence in Folketrygdfondet’s track record as an asset manager,’ says Kjetil Houg, CEO of Folketrygdfondet.

Folketrygdfondet has beaten the market by 1 percentage point annually since 2007. "Our report on risk-adjusted return shows that this is not due to coincidence," says financial analyst Joakim Kvamvold.

The Government Pension Fund Norway, which Folketrygdfondet manages, recorded a loss of NOK 15 billion in 2022. The return was -4.4 per cent. The capital amounted to NOK 318 billion at year-end.

Karl CW Mathisen (44) will start as the new Chief Investment Officer Equities at Folketrygdfondet on 1 February 2023.