$800 Billion Norway Fund’s Ethics Panel Could Lose Independence

The ethics council that decides which companies Norway’s $800 billion sovereign wealth fund should avoid could lose independence following a report by a government-appointed commission. The commission’s report also sought more research on the performance of ethical investments. World’s largest sovereign wealth fund Government Pension Fund of Norway (GPF) is the world’s largest sovereign wealth fund. The $800 billion fund is currently managed by Norges Bank Investment Management (NBIM), but is owned by the Norwegian state. The globally popular fund owns around 1.25% of the world’s stocks. NBIM owns about 1% of all U.S. stocks and 7% of all European…