Print

Submissions 1997-2003

2003

• Expansion of the benchmark index for the Government Petroleum Fund's equity investments  (pdf 261kb) /1 April 2003
• Exercise of ownership rights in the management of the Government Petroleum Fund / 12 February 2003
• New evaluation of emerging equity and bond markets (pdf 296 kb) / 6 February 2003)

2002

• An appraisal of the regional weighting of the Petroleum Fund (11 April 2002)
• Expanding the Petroleum Fund’s investment universe (21 March 2002)

2001

• Remuneration for management of the Government Petroleum Fund
  23 August 2001
• Choice of a new benchmark for the Government Petroleum Fund's fixed income investments
  23 August 2001
• Draft amendment of the Regulation relating to the Management of the Government Petroleum Fund
  23 August 2001
• Rebalancing regime for the Government Petroleum Fund
  22 August 2001
• Bonds with no government guarantee in the benchmark
  15 March 2001
• An analysis of the Government Petroleum Fund's equity allocation
  15 March 2001

2000

• Choosing between internal and external management for the Government Petroleum Fund
  Norges Bank’s submission to to the Ministry of Finance on 5 September 2000
• Emerging equity markets and the Petroleum Fund's benchmark portfolioNorges Bank’s submission to the Ministry of Finance on 30 August 2000
• The limit on tracking error for the Petroleum Fund In a submission to the Ministry of Finance on 5 May 2000, Norges Bank evaluated the limit on tracking error in the Government Petroleum Fund.
• Assessment of the Petroleum Fund's ownership limits Norges Bank submitted this letter to the Ministry of Finance on 25 April 2000
• Increased ownership interests in individual companies.
  On 12 May 2000, the Ministry of Finance changed the regulations governing the management of the Government Petroleum Fund.
  Refer to Norges Bank’s submission to the Ministry of Finance on 25 April 2000and the Ministry’s press release.
• Proposed guidelines for the environmental fund
  Submission to the Ministry of Finance on 29 March 2000Fund.

1999

• Seven markets added to the Petroleum Fund’s investment universe
  In a press release of 21 December 1999, the Ministry of Finance announced the investment of the Government Petroleum Fund in seven new countries and the establishment of an environmental fund.
• The Government Petroleum Fund - evaluation of potential new markets
  In a submission to the Ministry of Finance on 26 August 1999, Norges Bank evaluated which countries should be included in the Petroleum Fund's country list. The submission was included as an annex to the National Budget for 2000.
• Implications for the management of the Government Petroleum Fund if special environmental considerations are used as a basis for the choice of investment strategy
  In two submissions to the Ministry of Finance on 16 March 1999, Norges Bank presented its assessment of the consequences for the Government Petroleum Fund of introducing ethical guidelines and expanding the investment universe of the Fund. The submissions were included as annexes to the Revised National Budget for 1999.

1998

• The Government Petroleum Fund and the new guidelines are discussed in the National Budget for 1998.
• Director of Norges Bank Investment Management
  In a press release of 10 June 1998, the Executive Board of Norges Bank announced the appointment of Knut N. Kjær as director of Norges Bank Investment Management with effect from 1 July 1998.
• Consequences of Introducing Special Ethical Guidelines for the Management of the Petroleum Fund
  In a submission to the Ministry of Finance on 22 April 1998, Norges Bank presented its assessment of the consequences for the Government Petroleum Fund of introducing ethical guidelines. The submission was included as an annex to the Revised National Budget for 1998.

1997

In a submission to the Ministry of Finance on 10 April 1997, Norges Bank recommended a change in management strategy to allow investments in equity instruments, such as shares.

Norges Bank's submission was included as an annex to the Revised National Budget presented on 13 May 1997.

• In its press release of 13 May 1997, the Ministry of Finance announced that the Government proposed the investment of part of the Petroleum Fund in foreign equities and that Norges Bank would continue to be responsible for the operational management of the Fund.
• The Storting endorsed the Ministry of Finance's recommendations in the Revised National Budget on 20 June 1997.
• The Ministry of Finance established new guidelines for the management of the Government Petroleum Fund on 3 October 1997, with effect from 1 January 1998, and provided information about the new guidelines in a press release on 6 October. At the same time, Norges Bank's submission to the Ministry of Finance on 22 August 1997, which contained specific recommendations concerning the formulation of the guidelines, was made public.