Norway's Ministry of Finance releases Expert Council report reviewing the Government Pension Fund Global strategy and benchmark index

Norway's Ministry of Finance has released the Expert Council’s report for the Government Pension Fund Global (GPFG), completing the mandate given in spring 2025 to review the foundations for the fund’s investment strategy and the composition of its benchmark index. The ministry’s assessment of the report is due to be reflected in the fund report in spring 2026. Established in April 2025, the Expert Council advises the ministry on the fund’s investment strategy, the framework for responsible management, and follow-up of Norges Bank. The 2025 mandate covered, among other elements, the role of broad diversification in reducing risk and harvesting risk premia, the suitability of the reference index in light of international political and economic developments, and a proposal for a systematic process to review the fund’s strategic choices; the report is also being presented at an open seminar.