OSLO, May 3 — Norway’s US$1.2 trillion (RM5.2 trillion) sovereign wealth fund, the world’s largest, expects difficult market conditions in the time to come, affected by geopolitical events and inflation, its chief executive said today. Inflation, already on the rise before the war in Ukraine,...
OSLO, May 3 — Norway’s US$1.2 trillion sovereign wealth fund, the world’s largest, expects difficult market conditions in the time to come, affected by geopolitical events and inflation, its chief executive said today.
Inflation, already on the rise before the war in Ukraine, has continued to increase, while interest rates are still very low and share prices at the moment remain high, he said. “The geopolitical consequences of the war are difficult to predict, but we probably face the greatest changes for 30 years,” Nicolai Tangen said in prepared remarks published ahead of his testifying in front of parliament’s finance committee.
“There is little doubt that growing frictions between superpowers and a reversal of globalisation will affect the markets,” he added. The Norwegian fund, which invests all its assets in foreign stocks, bonds, real estate and renewable energy projects, has “nowhere to hide” and must manage the risk that comes with exposure to global markets, he added.You May Also Like
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