Government Pension Fund Global — Summary

May 14, 2013

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The Norwegian government created the Norwegian Government Petroleum Fund (NGPF), the forerunner to the Government Pension Fund Global (GPFG), in 1990 to manage the country's vast petroleum revenue and preserve wealth for Norway's future generations. The government assigned the task of managing the fund to the Ministry of Finance (MoF). In 1996, the government made its first deposit to the fund, giving it about 2 billion Norwegian krone ($320 million), which the MoF instructed the central bank, Norges Bank, to invest in…

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