Norway Sovereign Wealth Fund to Divest More Israeli Stocks Amid Gaza Crisis
ReutersAugust 12, 20251 min6,278 views
6 connections·9 entities in this video→Norway's Sovereign Wealth Fund Review
- 🇳🇴 Norway's $2 trillion sovereign wealth fund, the world's largest, is increasing its divestment from Israeli companies.
- 🌍 This decision stems from an ongoing review of investments in Israel due to the situation in Gaza and the West Bank.
Divestment and Asset Management
- 📉 The fund is terminating contracts with external asset managers overseeing some of its Israeli investments.
- 💔 Divestment has occurred due to the worsening humanitarian crisis in Gaza.
- 💡 The CEO expressed self-criticism, stating they should have had a tighter overview and taken back control of these investments earlier.
Specific Investment and Sale
- ✈️ The review was prompted by media reports of the fund holding a 2% stake in Bet Sheamesh Engines Limited, an Israeli jet engine group.
- 🛠️ This company provides services to Israel's armed forces, including maintenance of fighter jets.
- ✅ The fund announced it has sold its stake in Bet Sheamesh Engines Limited.
Fund's Investment Scope
- ⛽ The fund invests Norway's revenues from oil and gas production.
- 📈 It is a major global investor, owning an average of 1.5% of all listed stocks worldwide.
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Sovereign Wealth FundNorwayDivestmentIsraeli StocksGaza CrisisWest BankAsset ManagementHumanitarian CrisisBet Sheamesh Engines LimitedOil and Gas RevenuesGlobal Investments
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