OSLO, Jan 21 (Reuters) - Norway's sovereign wealth fund,

a major global investor, said on Tuesday it is proposing that

publicly listed companies should stop reporting quarterly

earnings and instead opt for half-year results in order to

encourage better long-term decision-making.

The $1.8 trillion fund holds stakes in close to 9,000

companies in more than 70 countries, representing 1.5% of the

world's listed equities and giving it an influential voice in

global finance.

"Regular semi-annual reporting, supplemented with continuous

updates of material information, should adequately meet

disclosure requirements," fund manager Norges Bank Investment

Management (NBIM) said in a report outlining its view.

The number of corporations listed on public stock exchanges

has declined in recent decades, and more companies are now owned

by private equity funds, in which NBIM is prevented by the

Norwegian government from investing.

The fund argued that quarterly reporting cycles lead to a

risk of companies prioritising short-term profits and the

meeting of analyst forecasts over long-term investment, value

creation and sustainable development.

"Short termism can undermine the benefits of being publicly

listed, and discourage companies with longer-term strategies

from going or remaining public," the Norwegian fund said, adding

that this trend limits investors' ability to diversify risks.

JPMorgan Chase CEO Jamie Dimon in a letter to shareholders

last year said intensifying reporting requirements and the

"relentless pressure of quarterly earnings" was likely among the

factors pushing companies to refrain from public listings.

Saving petroleum revenue for future generations, the

Norwegian fund has grown from nothing in 1996 to a value of more

than three times that of Norway's annual gross domestic product,

or $310,000 for each Norwegian.

The fund held 72% of its assets in equities on June 30,

2024, its latest reporting date, 26% in fixed income markets,

1.7% in unlisted real estate and 0.1% in unlisted renewable

energy infrastructure such as wind farms.