For the World’s Biggest Wealth Fund, Only Two Countries Drive Global Risks
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CEO says will continue to be a long-term investor in Europe
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Fund rallied 6.9% in 2016 after Trump-fueled stock gains
Bothered about Brexit? Fretting over Frexit? Don’t worry.
Norway’s $900 billion wealth fund, which owns 1.3 percent of global stocks, says politics in only two countries constitute a global financial risk: China and the U.S.
“If you look back at 2016 and further back, it’s clearly two countries that are so large and so important for the world economy that political developments there actually influence the full global financial markets, and that’s the U.S. and China,” Yngve Slyngstad, chief executive officer at Norway’s $900 billion sovereign wealth fund, said in an interview after presenting annual results in Oslo. “It’s not obviously clear that political events and developments in other countries will influence the global markets to that extent.”…
For the World’s Biggest Wealth Fund, Only Two Countries Drive Global Risks
