Norway barred its oil fund, the world’s third-biggest sovereign wealth fund, from investing in China’s Dongfeng Motor Group and put its holding in Siemens under observation, citing ethical guidelines. The $297 billion fund will be barred from investing in Dongfeng Motors because of sales of military trucks to Myanmar. Siemens, Europe’s largest engineering company, was put under observation because of the “gross and systematic corruption the group has been involved in over many years", says this report
. The fund has excluded 30 companies, including Wal-Mart Stores Inc. The fund, the biggest equity investor in Europe, holds about 0.8 percent of global equity markets.