World's largest sovereign wealth fund excludes Adani Ports & SEZ

Government Pension Fund Global (GPFG), which is the world’s largest sovereign wealth fund and is based in Norway, on Wednesday said it had excluded Adani Ports and Special Economic Zone (APSEZ) —India’s largest port operator —from investment owing to “ethical considerations” concerning the firm’s sale of its port in Myanmar last year.

This comes at a time when the group is in the middle of controversies regarding alleged malpractices in corporate governance last year.

Queries sent to APSEZ did not elicit a response till the time of going to press. Shares of APSEZ ended at Rs 1,352, with a gain