He refused to disclose details but stressed that the amounts involved were small. It also holds investments in cigarette companies such as BAT and Imperial Tobacco. In the US most of the Foundation's investments are handled by Alliance Capital, a finance group. He would not disclose details, but said the investments for the Foundation mirrored those of his firm's Alliance Premier Growth Fund. This invests in United Technologies, maker of the Sikorsky fighter helicopters, which is sold to China, Colombia and Turkey.
Alliance also invests in firms active in Burma.
Ake Alteus, the Nobel Foundation's executive finance director, confirmed there are no ethical restrictions on its fund managers.