Full coverage· Economy· Updated
Norway's Sovereign Wealth Fund Reports $29.7 Billion Loss Amid Divestments
Norway's sovereign wealth fund reported a $29.7 billion loss, citing market caution and ethical considerations for divesting from Israeli companies.
2 newsrooms · 3 languages · since
Plus
What happened
- 01Norway's $2.3 trillion sovereign wealth fund reported a $29.7 billion loss.
- 02The fund divested from Israeli banks for approximately 2 billion shekels due to ethical concerns.
- 03Divestments were also made from companies like Bezeq and Paz over settlement involvement.
- 04The fund sold its stake in Caterpillar, drawing criticism from the U.S. State Department.
- 05The fund's global investment return was negative 0.5% in the third quarter.
The fund sold holdings in Israeli banks for approximately 2 billion shekels and exited investments in companies like Bezeq, Paz, and Caterpillar, citing their involvement with settlements and the IDF. The Norwegian government reviewed the fund's portfolio, leading to further divestments. The fund's overall global investment return was negative 0.5% in the third quarter.
The coverage
2 newsrooms on this story
Who covered it
- LeftNone
- Centre1
- RightNone
- HarediNone
- ArabNone
- Other1
How it broke
See which of the 2 newsrooms broke it, and who waited
