18.08.2016 - Property market fears as wealth fund slashes value of UK portfolio after Brexit
The world's biggest sovereign wealth fund has added to fears over Britain's property market as it slashed the value of its UK portfolio after the Brexit vote. Norway's 7.18 trillion kroner (£669 billion) Global Government Pension Fund said it had cut the value of its UK property portfolio by 5% due to " increased volatility and uncertainty" in the sector. Almost a quarter of its 221 billion Norwegian kroner (£21 billion) property portfolio is invested in the UK. The fund said its external valuers could not update property valuations to take account of the Brexit vote impact due to a shortage of data...............................................Full Article: Source
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