Norway Fund Won't Invest In Cos Selling Weapons To Myanmar

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OSLO -(Dow Jones)- Norway's finance minister said Friday the country's state- controlled pension fund will no longer invest in companies selling arms or weapons technology to Myanmar.

The decision bulks up existing rules relating to the fund's investments in connection with Myanmar's military regime and associated companies.

Last spring, the Norwegian government amended the 2.02 trillion kroner ($397 billion) Norwegian Pension Fund - Global's guidelines to explicitly bar the fund from investing in bonds issued by Myanmar.

Later in the year, the government broadened the restrictions to include a prohibition on the funding of listed Myanmar state-owned enterprises and enterprises extracting timber, metals, minerals and gemstones.

The Finance Ministry said Friday that a preliminary review of the fund's holding indicated it doesn't invest in any companies selling arms or weapons technology to Myanmar at present.