<p>The Norwegian government has once more rejected the idea of including unlisted infrastructure investments in the Government Pension Fund Global (GPFG).</p>
<p>The country’s finance ministry has also said the NOK7.9bn (€861bn) sovereign wealth fund should not divest from oil and gas stocks, as it would not reduce the fund’s exposure to related risks.</p>
<p>In a white paper on the management of the fund in 2016 – released at the end of last month and due to be voted on in parliament in May – the finance ministry also proposed increasing the strategic equity allocation of the fund to 70% from 62.5% currently, as it <a href="https://www.ipe.com/news/norway-slashes-swfs-expected-return-to-3/10017611.article" target="_blank">announced in February</a>.</p>
<p>Siv Jensen, minister of finance, said: “A higher equity share requires broad political consensus, as well as the ability to remain committed to the investment strategy, also when the fund fluctuates in value.”</p>