AMWatch

Money managers face ethical dilemma in Myanmar

The Norwegian oil fund and several major asset managers have invested in companies tied to the Myanmar junta. Some say, though, that divestment and boycotting implicated firms would entail forfeiting influence.

Photo: Handout/AFP/Ritzau Scanpix

The company Adani Ports in Myanmar has come under scrutiny for its ties to Myanmar's military junta, which forcibly seized state power in the country earlier this year.

News has since emerged that Norges Bank Investment Management, colloquially called the oil fund, had also invested in Adani Ports. In addition, numerous asset managers such as DNB AM, Nordea AM, KLP and Storebrand AM have had exposure to companies financing the military regime through investments in their funds, reports media E24.

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