Companies have until 12 April to apply for the position. The report will cover internal tax regulations in the countries the fund is looking to invest in, tax agreements between Norway and the countries in question and how to go about investing in property and infrastructure.

The fund, formerly known as the Petroleum Fund, already invests in a wide range of countries and is looking to have the same spread in its property investments. “Both direct and indirect investments in property are to be considered,” said Martin Skancke, director general at the asset management department in the ministry of finance.

It is not yet decided whether Norges Bank, which has operational control of the Government Pension Fund – Global, will manage the property portfolio.

Last October, the ministry of finance issued a tender on special issues related to investments in real estate. The report looked into what markets the fund might invest in and different investment methods.

The report on tax issues is expected at beginning of the summer and the ministry is to present the findings to parliament in October. The ministry of finance reports twice a year to the Stortinget, which has to decide all changes made to the Government Pension Fund’s portfolio.

The Ministry of Finance has been examining the property move for the past year. “Deciding on new investments for the fund is a slow process and requires the approval of the parliament,” said Mr Skancke. The fund currently has a 60/40 per cent equity/bond split.

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