Norway's largest pension fund will divest from companies that rely on alcohol and gaming to drive sales, in a push to purge so-called "sin stocks" from its portfolio.

KLP, an Oslo-based fund with US$80 billion ($122.2b) of assets under management, said on Tuesday that it will sell out of companies that derive more than 5 per cent of their revenues from alcohol or gambling.

Among the 90 now excluded companies, in which KLP holds combined stakes of US$320 million, are Budweiser maker AB InBev, champagne group LVMH, beer brewers Heineken and Greene King, online betting operator Paddy Power Betfair and

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