Norway’s Government Pension Fund Global (GPFG) was recognised by the Global Pension Transparency Benchmark as the world's most transparent investment fund for the second year in a row, with a score of 100 points.

The Government Pension Fund Global (GPFG) is managed by Norges Bank Investment Management (NBIM).

The Global Pension Transparency Benchmark is the first global standard for measuring transparency among pension and institutional investment funds and ranks 75 investment funds across 15 countries.

The benchmark covers 185 questions on performance, governance, costs and responsible investing. The fund received a perfect score in all categories.  

To score points, information must be publicly available and easy to find, for example on websites, annual reports and other public documents.

"I am very proud of my incredible colleagues at NBIM. Transparency fosters trust and strengthens our ability to drive positive change. This ranking truly motivates us to keep being as open as possible about how we run the fund," NBIM CEO, Nicolai Tangen, said. 

Adding to this, NBIM chief communications and external relations officer, Marthe Skaar, said: "We truly believe in transparency. The fund is owned by the Norwegian people. They deserve and expect to find information about the fund and how we manage it.”

The Global Pension Transparency Benchmark commented that the fund's improvement over the past three years was “astounding”.

“The GPFG improved its score by 25 points [since 2022] and has taken top spot in 2023 and 2024,” it added.

GPFG said, like last year, it “narrowly beat” the Canadian fund CPP Investments, which has also improved its transparency score.

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