This text has been translated from Norwegian with the assistance of GPT UiO.
In April, the Ministry of Finance established a new expert council for the Norwegian Government Pension Fund Global. Karen Helene Ulltveit-Moe, professor and head of department at the Department of Economics, has been appointed as the chair of the council, as stated in a government press release on 30th April (in Norwegian).
The expert council will provide advice and assessments on the fund's investment strategy, and also establish the framework for responsible management and oversight of Norges Bank. Each year, the council will receive assignments and deliver reports to the Ministry of Finance. According to the government, the first assignment will be to evaluate the basis for the investment strategy and propose a plan to review key decisions that have been made.
Minister of Finance Jens Stoltenberg emphasises the importance of professional evaluations:
– One of the success factors in the management of the pension fund has been relying on thorough professional assessments. I am pleased that we now have an expert council with significant expertise that can assist the ministry with crucial issues regarding the future management of the fund, he says.
Joining Ulltveit-Moe in the expert council are Harald Magnus Andreassen, Chief Economist at Sparebank 1 Markets, and Magnus Dahlquist, Professor of Finance at Stockholm School of Economics.