similar power level to the .30'06 and .308. GP11, the issue ammo, is all match grade. It is a 174gr FMJ bullet that has a muzzle velocity of 2560 fps. With 130 gr bullets, you can get it up to about 3000 fps. The basic design has been in use in Switzerland since 1889. The GP11 variation has been in use since 1911 - the same stuff the whole time, since they never used corrosive primers, and it's always been smokeless powders with an FMJ Spitzer loaded to about 2560 fps.
It is still in use in Switzerland in machine guns, stg57 rifles, and K31 rifles that are used for match shooting, though the K31 is no longer in service at all.
Plenty more info on the rifle and ammo on the net. Have fun researching!