Managers of Norway’s sovereign wealth fund say it has sold its shares in 11 Israeli companies, a move that they say reduces its holdings in the country against the backdrop of the “serious humanitarian crisis” in Gaza.

Norway’s $1.9 trillion sovereign wealth fund has divested from 11 Israeli companies and is terminating all contracts with external managers in Israel following public outcry over its investments linked to the war in Gaza.

Norway's $2 trillion wealth fund, the world's largest, said on Tuesday it expects to divest from more Israeli companies as part of its ongoing review of investments in the country over the situation in Gaza and the West Bank.