NBIM gets €150m for running Norway fund

NORWAY – Norges Bank Investment Management is to receive NOK1.2bn (€150m) for running the Government Pension Fund – Global in 2005.

“At end-March, Norges Bank will receive remuneration from the Ministry of Finance for its management of the Government Pension Fund – Global in 2005,” the central bank said. “The remuneration amounts to approximately NOK1.2bn.”

Norges Bank runs the NOK1.4trn former Petroleum Fund on behalf of the Ministry.

It also said it would purchase foreign exchange equivalent to NOK310m a day for the fund.

NBIM also has a vacancy for an investment operations/strategy manager, according to a posting on its web site.

“We are strengthening the Fixed Income External Managers Operations Group responsible for providing operational services on fixed income securities and derivatives,” it says.

“The right candidate will be responsible for investment operations towards service providers, fund managers and NBIM’s FI external manager group.”

Women are encouraged to apply for the Oslo-based position.

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