Its state investment fund Norway (Nbim) does not leave the Israeldespite the criticism that has intensified because of the war in Gaza.
“At our point of reference – which is institutionally guaranteed in parliament – Israel remains part of the index. This means that we will continue to invest there, “Trond Grande, deputy chief executive of Norway fund, told CNBC.
On Monday (12.08.2025), the NBIM administrator announced that it “simplifies” the report in the country: it will sell all the shares of Israeli companies that are not included in the Ministry of Finance’s shareholder reference index and terminate contracts with external managers. The move was followed by the Norwegian Ministry of Finance to review the management mandate and exposure to Israeli businesses.
At the end of June, the fund held positions in 61 Israeli companies, of which 11 out of the index. “This is not a degradation of the report,” Grande said. “We simplify the portfolio in Israeli shares, as well as we have moral guidelines. The key for us is not to participate, in any way, in violating these principles. “
The NBIM manages the Fund on behalf of the Norwegian people and is under growing public supervision for its placements due to the conflict, as Grande recognized.