US EditionNorway's $2 Trillion Wealth Fund Divests 11 Israeli Assets, Centralizes Management
Norway's fund divested from 11 Israeli firms linked to military activities and will manage Israeli assets internally amid Gaza conflict concerns, overseeing $2 billion in Israeli investments.
- On Monday, Norway's sovereign wealth fund, officially known as Norges Bank Investment Management, sold its investments in 11 Israeli companies and terminated all contracts with external managers over concerns about the Gaza and West Bank situation.
- Finance Minister Jens Stoltenberg ordered a review of the fund’s Israeli investments by Norway’s central bank and the Ethics Council, with findings due before August 20.
- As of June 30, the fund held stakes in 61 Israeli companies and divested in 11 in recent days, according to Nicolai Tangen, CEO of Norges Bank Investment Management.
- The fund said it will bring its Israeli assets under in-house management to reduce external contracts, simplify oversight, and limit investments to companies in the equity benchmark index.
- Next month, with parliamentary elections looming, NBIM will end active management in Israel and limit holdings to the equity benchmark index, following growing political pressure.
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116 Articles
Norway Wealth Fund reportedly divested from 17 Israeli companies since start of July
The nearly $2 trillion fund announced Monday that it has sold its holdings in 11 Israeli companies, but a report in a Norwegian financial newspaper listed 17 companies the fund has divested from, ranging from Bet Shemesh Engines, which provides services to the IDF, to Rami Levy, a grocery store chain
World’s biggest investment fund expects to sell more Israeli stocks due to situation in Gaza and West Bank
Norway’s $2 trillion sovereign wealth fund, the world’s largest, said on Tuesday it expects to divest from more Israeli companies as part of its ongoing review of investments in the country over the situation in Gaza and the West Bank.
Norway sovereign fund expects to sell more Israeli stocks over Gaza, West Bank
Norway's $2 trillion sovereign wealth fund, the world's largest, said on Tuesday it expects to divest from more Israeli companies as part of its ongoing review of investments in the country over the situation in Gaza and the West Bank.
Norway ' s State Pension Fund reported that it had decided not to invest in 11 Israeli companies and had terminated contracts with all external managers in Israel because of the situation in the Gaza Strip.
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