Norway’s finance ministry has finalized a new policy for the management of the Government Pension Fund Global, Global Pensions reports. Under the new mandate, officials at Norges Bank Investment Management (NBIM) have been asked to place and regulate new limits to ensure better risk management and transparency. NBIM will also have to ensure that tracking error does not exceed 1% and also set supplementary limits for risks not captured by the expected tracking error. The new mandate will also outline the separate responsibilities of the Ministry of Finance and NBIM and provide a more uniform framework.
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