GAPP Principle 9

The operational management of the SWF should implement the SWF’s strategies in an independent manner and in accordance with clearly defined responsibilities.

Status: Implemented

The Ministry of Finance has issued a mandate to Norges Bank detailing the operational management of GPFG within clearly defined responsibilities. Norges Bank executes investment decisions and exercises ownership rights independently of the Ministry. See response to principle 6, 7 and 8 for more details.

Sources: Government Pension Fund Act, Norges Bank Act, GPFG mandate.