The fund's first 30 years

Investing for future generations

The fund was established in 1990, and the initial transfer from the government followed in 1996. Today, the fund is among the largest in the world and the single largest investor in listed companies. Its purpose has expanded from shielding the domestic economy from oil price fluctuations to saving for future generations. Owned by the people as a sovereign fund in an open democracy, it has a unique governance model and a level of transparency that is without parallel. How did the fund develop from a theoretical economic concept to a trillion-dollar reality? In this publication, we tell the story of the fund and its investment strategy from our perspective.

Published 31 Aug. 2020

Download the review (pdf)

One of our tasks as the manager of the fund is to contribute to transparent management of the fund. Our publication series «Management reviews» contributes to this goal by providing historic accounts of different parts of the fund’s investment strategy. “Investing with a mandate” is the latest publication in this series. The fund was established in 1990, and the initial transfer from the government followed in 1996. Today, the fund is among the largest in the world and the single largest investor in listed companies. How did the fund develop from a theoretical economic concept to a trillion-dollar reality? In this publication, we tell the story of the fund and its investment strategy from our perspective.