‹ Speakers

Yngve Slyngstad

Chief Executive Officer, Norges Bank Investment Management

Yngve Slyngstad was appointed Chief Executive Officer of Norges Bank Investment Management on 1 January 2008. He joined the organisation in 1998 to head and build its equity management activities. He held the position of Head of Equities between 1998 and 2007.

Prior to joining Norges Bank Investment Management, Mr Slyngstad held the position of Chief Investment Officer Asian Equities at Storebrand Asset Management.

Mr Slyngstad holds a Master's degree in law  from the University of Oslo and a Master's degree in business management  from the Norwegian School of Economics (NHH). He also has a Master's degree in economics from the University of California and a Master's degree in political science from the University of Paris.


• Norges Bank Investment Management manages the Government Pension Fund Global according to a mandate set by the Norwegian Ministry of Finance. The fund is integrated in the Norwegian public finances. Despite its name, the fund has no formal pension liabilities. The mission is to safeguard and build assets for future generations. Ultimately, the fund's assets are held by the government on behalf of the Norwegian people.

• The Ministry determines the fund's investment strategy, following discussions in Parliament, and on the basis of advice from Norges Bank Investment Management, among others. The flow of petroleum revenue to the fund is determined by the Ministry of Finance according to the fiscal rule. This stipulates the government's use of petroleum revenues and is linked to the fund's expected real return. Over time, the Ministry of Finance expects withdrawals from the fund to equal 3 percent of the fund's value.

• The fund is invested 69.3 percent in equities, 28.0 percent in fixed income and 2.7 percent in unlisted real estate. The aim is to have a diversified investment mix that will give the highest possible long-term return within the mandate set by the Ministry.

• The bulk of the assets are managed by Norges Bank Investment management internally, and 3.9 percent (as of 31 December 2018) of the assets are managed by a number of external managers appointed by us.

• The fund's annualised return since the start of 1998 is 5.9 percent measured in a currency basket.