Norway sovereign wealth fund excludes AviChina, Bharat Electronics

Norway sovereign wealth fund excludes AviChina, Bharat Electronics

Oslo, Norway. Photo: Pixabay

Norway’s sovereign wealth fund, the world’s largest, said on Tuesday it has excluded China’s AviChina and India’s Bharat Electronics from its portfolio.

The two were excluded due to “unacceptable risk that (the) companies are selling weapons to a state that uses these weapons in ways that constitute serious and systematic breaches of international rules on conduct of hostilities,” the fund said.

“The background for the decision is sales of light airplanes and other military material respectively to the military in Myanmar,” Norges Bank Investment Management said.

Reuters

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