| Norway’s giant sovereign wealth fund has adjusted the value of its UK property holdings down 5%, blaming Brexit uncertainty.The wealth fund, the Government Pension Fund Gobal, run by Norges Bank Investment Management, has only a fraction of its £654 billion investments in property?—?59.6% is in equities, 37.4% in fixed income and just 3.1% in real estate.
The fund returned 1.3% overall in the second quarter of 2016, it was reported today. But the fund’s second quarter report said it had chosen to revalue its UK property, and blamed Brexit for a loss on its UK equities holdings...............................................Full Article: Source
|