Oireachtas Joint and Select Committees

Wednesday, 31 May 2023

Committee on Budgetary Oversight

Sovereign Wealth Funds: Discussion (Resumed)

Mr. Svein Gjedrem:

Yes. It is very well diversified. We are invested in equities in most markets internationally but not in the Norwegian economy, as I mentioned. This fund owns on average, I guess, 1.25% of the international equity market - noted on bourses, of course - so we own quite a large part. The strategy is not very much active management so it is diversified all over the international markets. That is important. Of course, neither the Norwegian Government nor the Parliament is involved in individual investments or in directing investments in special ways. It is general. The overall absolute risk at the type of the fund is well anchored in the government and parliament. That is very important as well.