17 Pages Posted: 4 Oct 2011 Last revised: 20 Mar 2016
Date Written: October 10, 2011
The Norwegian Government Pension Fund Global was recently ranked the largest fund on the planet. It is also highly rated for its professional, low-cost, transparent, and socially responsible approach to asset management. Investment professionals increasingly refer to Norway as a model for managing financial assets. We present and evaluate the strategies followed by the Fund, review long-term performance, and describe how it responded to the financial crisis. We conclude with some lessons that investors can draw from Norway’s approach to asset management, contrasting the Norway Model with the Yale Model.
Keywords: Sovereign wealth funds, endowment, pensions, Norway, Government Pension Fund Global
JEL Classification: E44, F21, G15, G23, G28, J26
Suggested Citation: Suggested Citation
Chambers, David and Dimson, Elroy and Ilmanen, Antti, The Norway Model (October 10, 2011). Journal of Portfolio Management, Vol. 38, No. 2, 2012, pages 67–81. Available at SSRN: https://ssrn.com/abstract=1936806 or http://dx.doi.org/10.2139/ssrn.1936806