(Bloomberg) -- The caput of Norway’s $1.4 trillion wealthiness money said helium expects a lengthy play of weakness successful fiscal markets and warned that ostentation could beryllium the astir important situation ahead.
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Nicolai Tangen, main enforcement serviceman of Norges Bank Investment Management, told Germany’s Frankfurter Allgemeine Zeitung that aft achieving an mean complaint of instrumentality of 6% for a 4th century, the money is present preparing for “a decennary of little returns.”
“It mightiness adjacent crook negative,” the insubstantial quoted him arsenic saying successful an interview. “We conscionable person to judge that. The aboriginal volition beryllium little charismatic for america than the past.”
Tangen said the “biggest imaginable problem” for the money -- the world’s biggest proprietor of publically traded stocks -- is ostentation and predicted surging prices could person “far much superior consequences than is presently mostly assumed.”
“I spot ostentation everywhere: successful freight rates, successful the prices of metals and food, successful operation costs, and gradually successful wages,” helium told the FAZ.
“As a semipermanent investor, we don’t person that galore options,” helium added. “We person obscurity to fell from inflation.”
Built from North Sea lipid and state riches, Norway’s wealthiness money has a portfolio of astir 9,000 stocks. It has exited hundreds of companies implicit the past decennary to debar the environmental, societal and governance hazard it says they represented.
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