| Norway's $893-billion sovereign wealth fund cut the value of its UK property portfolio by 5 percent after Britain's vote to leave the EU, and is concerned at the prospect that Brexit might limit free movement of goods, services and people, it said on Wednesday.
The world's largest sovereign fund is one of Britain's biggest foreign investors, owning shares in most top UK companies and holding $11 billion in government bonds. It co-owns Regent Street, one of London's premier shopping streets. Conversely, Britain is crucial to the fund as its second-largest investment location after the United States, accounting for 10.2 percent of the fund's value at end-2015...............................................Full Article: Source
|