Norway Enhances Investment In UK
Sovereign wealth fund has showcased its eagerness to invest in the United Kingdom. The Norwegian fund has near about $1 trillion to invest. In a recent press conference, Yngve Slyngstad told the reporters that the fund will keep on investing in the United Kingdom despite Brexit dispute. The chief executive further said that the fund is looking forward to investing more capital in the UK in forthcoming years.
When Mr. Slyngstad was asked whether the fund is looking forward to the UK’s decision of leaving the European Union? The chief executive said that they are doing business with the UK for the last 30 years and the present political scenario will have no effect on their partnership. The fund is about to make a huge investment in the UK, in near about 200 properties. The fund also holds a debt of 5.6 billion pounds of United Kingdom as well as it has a share in 394 companies of United Kingdom.
The fund holds 250 employees in the UK and Mr. Slyngstad does not have any consideration for no-Betrix deal. The Fund of Norway is considered as one of the biggest investments across the whole world, back in the year 2018 United States and Japan held first and second position to get a share of the fund, followed by United Kingdom. Last year, it was Japan who had more share of Norway fund in comparison to UK and that’s because the Yen got strengthened in comparison to the British pound.
The comments of Mr. Slyngstad were heard at the Norway fund’s annual meeting in 2018, the report, once again showcased the value of Norwegian investment. The funding is considered to play a great role in uplifting the economy of a country. Back in 2002, the Norway fund had declined a little bit but since then it is a very lucrative prospect for any other nation.