The Norwegian Sovereign Resources Fund, the largest in the world, said today, Monday, that it will review its investments in Israel every 3 months, and decided to remove 6 companies related to the West Bank and the Gaza Strip from its investment portfolio.
The fund, which has a trillion -dollar assets, did not mention the names of the companies he decided to remove, but he said that it would be announced as soon as the exit was completed.
The Fund’s Ethics Control Authority said that it will continue to evaluate Israeli companies every 3 months.
Review and exit
This comes after the fund during this month expected exit from more Israeli companies as part of its continuous review of its investments; Because of the situation in the Gaza Strip and the West Bank.
The fund had announced earlier the termination of contracts with the three foreign asset management companies that take charge of some of its investments in Israel, and also announced the exit from some of its portfolios in the country due to the worsening humanitarian crisis in Gaza.
The review began at the beginning of this month after media reports that the fund collected a share of more than 2% in an Israeli jet engines that provide services to the Israeli army, including the maintenance of combat aircraft.
The Fund announced last Tuesday that the session at Beit Sheimish Ltd. The engines have now been sold.
Norgis Bank Investment Management, the investment arm of the Norwegian Central Bank, which runs the fund, in the past few days, exit from 11 companies including Beit Shimish, and had stakes in 61 Israeli companies until June 30, and did not mention the names of other companies that were exit.
“There is a reason for the belief that there will be other exit,” said Trond Grande, Executive Vice President of Norgis Bank Investment Management, without specifying the number of companies that may be affected.
The Norwegian government has repeatedly ruled out its investments from Israel as a whole, based on that this means that the fund withdrew its investments from these companies because it is Israeli.
