NBIM's decision-making powers have been substantially increased, and the bank has taken over the voting rights of all external portfolio managers. It is now possible to vote at the general meetings of the majority of the 3,200 companies in the fund’s portfolio.

"We think we can achieve a higher return in the future by systematically determining the requirements that should apply to corporate boards and management, and which can gain the support of other owners. Common to many such requirements are attitudes to corporate ethics and ethics in a more general sense," said Knut Kjær, executive director of NBIM.

NBIM has also established a group of experts in equity management to reinforce the existing functions relating to the exercise of ownership rights. Henrik Syse, a senior researcher at the International Peace Research Institute in Oslo, has been appointed to lead the group.

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