Norway’s Wealth Fund Divests from Israeli Companies: A Symbolic Move?
Norway’s sovereign wealth fund announced the sale of its shares in 11 Israeli companies, citing the “serious humanitarian crisis” in Gaza as the backdrop for the decision. The fund, which invests Norway’s oil and gas profits, stated that these sales were finalized recently, following a decision to divest from companies not in the Norwegian Finance Ministry’s index. Additionally, the fund will move its Israeli company investments in-house and terminate contracts with external managers in Israel. These actions aim to simplify investment management and strengthen due diligence in response to the deteriorating conditions in the region.
John Q. Hosedrinker