News
Norway's $860B Fund Won't Let Brexit Deter Its UK Investments
June 8, 2016
Norway’s wealth fund still plans to invest in Britain regardless of whether the country leaves the EU in this month’s referendum.
“We’ll remain a long-term investor in the UK regardless of the outcome,” the $860B fund’s CEO, Yngve Slyngstad, tells Bloomberg. “It’s not our role to comment on political questions and we have nothing further to add.”
The prospect of Brexit is spurring market volatility, and Fed chair Janet Yellen said this week a UK departure from the EU would have “significant economic repercussions.”
Norway’s fund had $87.3B in the UK at the end of 2015—made up of stocks, bonds and real estate—and it's been hoping to expand its property holdings. [Bloomberg]
