Norwegian oil fund, which has , the fourth largest holding in Volkswagen, is expected in the coming weeks join a class action against VW being prepared in Germany.
the action marks a shift in the oil fund’s role, from that time have been a more passive investors to engage more actively in the companies.
Fund estimated to have lost hundreds of millions of dollars in value since last autumn’s revealing about Volkswagen emissions cheat – and you now want to have compensation for the damage.
– We have been advised by our lawyers to act, and investors, it is our responsibility to protect the fund’s holding in Volkswagen, says Petter Johansen investment director for corporate investments in Norwegian oil fund, the Financial Times.
the State Fund has long chosen not to engage Activity in the companies where they are owners, but on several occasions in recent years, the fund has plummeted against defects in Volkswagen’s corporate governance.
Norwegian oil fund total value is close 7000 billion Swedish kronor, which is around 1, 3 percent of the value of all the world’s stocks.
Follow the oil fund’s value in real time
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