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Norway's sovereign wealth fund announces termination of asset management contract with Israel.
Jin10 data reported on August 11 that Norway's sovereign wealth fund, which has a size of $2 trillion, announced on Monday that it will terminate all contracts with the asset management company responsible for its investments in Israel and has sold part of its portfolio in the country due to the situation in Gaza and the West Bank. This statement was made following an emergency review initiated last week. At that time, media reported that the fund held shares in an Israeli jet engine company that services the Israeli military, including maintenance of fighter jets. The fund is affiliated with the Central Bank of Norway and held shares in 61 Israeli companies as of June 30. The fund stated in a statement that it has recently sold holdings in 11 of these companies. "We have now completely sold these positions," the fund stated, adding that it is still reviewing other Israeli companies to decide whether to further divest.