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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

Norwegian sovereign fund revises UK property value months after writedown

Posted on 11 October 2016

Norway’s sovereign wealth fund has revised the value of its UK property holdings just two months after a writedown of its portfolio. Trond Grande, NBIM’s deputy chief executive, told UK media that it had marked up the value of its UK portfolio to a level close to where it was before the UK’s vote to leave the European Union in June.
The fund wrote down the value of its UK property holdings by 5% in August, citing market uncertainty. The Government Pension Fund Global has significant exposure to UK property, with 16% of its NOK221bn (€23.6bn) real estate portfolio in London and 23% in the UK – more than twice its exposure to French property………………………………….Full Article: Source


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