The world’s largest sovereign wealth fund is taking a 30-year bet that Britain will emerge from Brexit stronger outside the European Union.
In an unexpected move, Norway’s £740bn wealth fund said yesterday that it would increase its exposure to British companies, property and bonds regardless of the outcome of Brexit negotiations.
This comes despite a 12% fall in the value of its £62bn of UK investments this year. Britain is the third largest market for the fund’s investment capital, which was built up from Norway’s oil and gas revenues.
