The world’s largest fund has divested its stakes in 11 Israeli companies and is reviewing more.
Norway’s $2 trillion sovereign wealth fund says it is terminating all contracts with asset managers handling its Israeli investments and has divested parts of its portfolio.
The announcement on Monday came after an urgent review launched last week after media reports said the fund had built a stake in an Israeli jet engine group that provides services to Israel’s military, including the maintenance of fighter jets, as Israel’s genocidal war on Gaza and the Palestinian population rages.
The fund, an arm of Norway’s central bank and the world’s largest, held stakes in 61 Israeli companies as of June 30 but in recent days divested stakes in 11 of these, it said in a statement.
“We have now completely sold out of these positions,” the fund said, adding that it is continuing to review Israeli companies for potential divestments.
