Norway's wealth fund says sterling flash crash reflects expectations of UK economy

Norway's wealth fund says sterling flash crash reflects expectations of UK economy
 

Friday's flash crash in sterling was a correct move that reflected the expectations of the UK economy, a senior official at Norway's sovereign wealth fund, the world's largest, told Reuters on Tuesday.
The 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.
"It (the... read more

 
11 October 2016 in Business, Views: 34
Source: Reuters
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