Norway’s sovereign wealth fund will continue to invest in Israel despite a request from the Norwegian Finance Ministry to review its investments in Israeli firms amid ongoing conflict. The fund, which manages over $2 trillion, made this announcement after its deputy CEO stated that it would remain invested in Israel due to ethical guidelines.
According to Trond Grande, deputy CEO of Norges Bank Investment Management (NBIM), Norway’s sovereign wealth fund will stick with its benchmark which includes Israel. This decision was made despite the ongoing conflict in Gaza and concerns over the impact of Norwegian public opinion on the country.
The fund initially announced plans to “simplify” its investments in Israeli companies due to the conflict, including selling all holdings of non-benchmarked firms and terminating contracts with external asset managers. However, Grande stated that this would not involve down-weighting investments but rather simplifying the portfolio to adhere to the fund’s ethical guidelines.
The Norwegian sovereign wealth fund is one of the largest investors in the world, managing over 8,500 companies globally. The decision reflects Norway’s commitment to its investment strategy despite external pressures.
Source: https://www.cnbc.com/2025/08/12/european-markets-on-tues-aug-12-stoxx-600-dax-cac-ftse.html