Core Insights - Norges Bank Investment Management (NBIM) has sold shares in Israeli companies due to rising public discontent in Norway regarding investments linked to military actions in Gaza [1][3] - The fund has reduced its holdings from 61 to 38 Israeli companies, selling 11 stocks and terminating contracts with all external asset managers in Israel [2][3] Group 1: Investment Actions - As of August 14, NBIM's investment in Israeli companies was valued at 19 billion kroner, a decrease of 4 billion kroner compared to June 30 [2] - The fund has submitted additional company information to the ethics committee, indicating potential further exclusions of companies from its portfolio [2][3] - The CEO of NBIM stated that future investments in Israel will be limited to companies within the stock benchmark index [4] Group 2: Public Sentiment and Response - The controversy was sparked by reports of NBIM holding shares in an Israeli company providing services for military aircraft used in Gaza [3] - Norwegian Prime Minister Jonas Gahr Støre expressed concern and requested a review of the fund's investments in Israeli companies [3] - The fund's investment strategy is index-driven, with a significant portion of its equity investments focused on North America (57.1%) and a minimal allocation to the Middle East (0.61%), with Israel representing 0.21% [3]

Core Viewpoint - The Norwegian Sovereign Wealth Fund, the world's largest sovereign wealth fund with a size of $2 trillion, is conducting a continuous review of its investments in Israel due to the ongoing humanitarian crisis in Gaza and the West Bank, and is expected to divest from more Israeli companies [1] Group 1: Investment Actions - On August 11, the fund announced the termination of contracts with external asset management firms responsible for part of its Israeli investments and has reduced its investment portfolio in Israel [1] - The fund has sold its stake in the Israeli jet engine company, BAE Systems, which provides services to the Israeli military, including fighter jet maintenance [1] - As of June 30, the fund held shares in 61 Israeli companies and has recently divested from 11 of them, with expectations to divest from more companies in the future [1] Group 2: Fund Management - The fund is managed by Norges Bank Investment Management, a subsidiary of the Norwegian Central Bank [1] - The CEO of Norges Bank Investment Management stated that the fund should have strengthened its oversight of these investments earlier [1] Group 3: Fund Overview - The Norwegian Sovereign Wealth Fund primarily invests the oil and gas revenues of Norway and is one of the largest investment institutions globally, holding an average of 1.5% of all listed companies worldwide, along with investments in bonds, real estate, and renewable energy projects [1]

Group 1 - The Norwegian government has ordered a review of its $1.9 trillion sovereign wealth fund's investment portfolio to exclude Israeli companies involved in actions against the West Bank or Gaza conflict [1] - The fund increased its investment in Israeli company Beit Shemesh Engines, which provides maintenance services for aircraft used in Gaza bombings, raising concerns among the Norwegian public [1][2] - As of the end of last year, the Norwegian sovereign wealth fund held 2.1% of Beit Shemesh Engines' shares, amounting to over $15 million, which has increased more than fourfold since the end of 2023 [2] Group 2 - The fund's investments in Israel accounted for 0.1% of its total assets, involving 65 Israeli companies with a total investment of 22 billion Norwegian Krone (approximately 154.5 billion RMB), a 45% increase compared to December 2023 [2] - The fund's ethical council has proposed blacklisting nine Israeli groups since 2009, with two added last year, and investigated 20 Israeli companies for potential links to the occupation of Palestinian territories [2] - The CEO of the fund confirmed the investment in Beit Shemesh Engines was made through external fund managers and that the company was not previously excluded by the ethical council [2][3]