Norwegian fund expects to sell more Israeli stocks
Norway’s $ 2 trillion (A3.1 trillion $) Egemen Servet Fund expects more from Israeli company as part of the ongoing examination of investments in the country in Gaza and the West Bank.
The world’s largest sovereign reserve Fund said on Monday that it has terminated contracts with external assets managers dealing with some of the Israeli investments, and that some of its portfolio in the country has deducted some of its portfolio in Gaza.
The review reported that last week, following the media reports, the fund was more than two percent in a Israeli jet engine group that serves the armed forces of Israel, including the maintenance of war jets.
The fund announced on Tuesday.
Bet Shemesh did not respond to comments.
Norves Bank Investment Management (NBIM), as of June 30, 61 Israeli company, a branch of Norway Central Bank, including a branch of the branch of 11 companies, including BSEL, 11 companies have been rejected.
He did not name other companies.
Nicolai Tangen, CEO of NBIM, said at a press conference on Tuesday, “We hope to be removed from more companies.”
About a month after the war in Gaza began to invest in Bsel in November 2023 about a month after the beginning of the war in Gaza.
The Fund refused to name the external portfolio manager.
Since then, NBIM held three -month meetings with Bet Shemesh Holdings, but the war in Gaza has not emerged as a theme.
“We have discussed about the work in the United States, not about the war in Gaza, but Tangen added that the fund has rated Bsel as“ Middle Risk ”stock about ethical concerns.
Bsel was later examined in May as a high -risk stock.
He said this change should be faster. Tangen added that NBIM should have a more strict overview of these investments.
“We should have been faster to reclaim the control of Israel investments,” he said.
The fund, which deposits the revenues of the Norwegian state from oil and gas production, is one of the largest investors in the world with an average 1.5 percent of all stocks listed worldwide.
In addition, bonds invest in real estate and renewable energy projects.
On Tuesday, 698 billion Norwegian Kron (A104.9 billion) for the first half of the year made profit and achieved a 5.7 percent return on the comparison index.
“The result is caused by good returns in the stock market, especially in the financial sector, Tang said Tangen.
Australian Associated Press is a beating heart of Australian news. AAP has been the only independent national Newswire of Australia and has been providing reliable and fast news content to the media industry, the government and the corporate sector for 85 years. We inform Australia.
