Norway prepares review of active management
NORWAY - The Norwegian ministry of finance is seeking a consultant to prepare a report which will then feed into the government’s evaluation of the active investment management of the NOK 2.3trn (€254.9bn) Norwegian Government Pension Fund - Global.
The Ministry of Finance said in a report to the Storting (the Norwegian Parliament) in April on the management of the pension fund in 2008 that proposals for evolution of the scheme’s investment strategy will include a review of whether active management should continue. (See earlier IPE article: Norway global to exclude tobacco and target environment)
The tender notice revealed the ministry “wants to enter into an agreement with a consultant for the preparation of a report, as part of an evaluation of active management of the Government Pension Fund - Global”.
It said the purpose will be to “evaluate different aspects of the active management”, and the findings of the report will then form “part of the ministry’s basis for the assessment of whether or to what extent active management of the Government Pension Fund - Global ought to be continued”.
The three-month contract is scheduled to start on 1 September 2009 and be completed by 1 December 2009, as the ministry of finance’s assessment of the active management element of the investment strategy will be presented to the Storting in spring 2010.
Further information on the contract can be obtained from the Doffin website, but the deadline for applications to participate is 17 August 2009.
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