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Norway Wealth Fund cuts UK real estate value after Brexit

The Norwegian wealth fund downgraded the value of its British real estate portfolio by 5 percent after the Brexit vote. This is a reaction to the uncertainty due to the forthcoming exit of Great Britain from the EU. The necessity of a further decrease the fund management, however, regards as unrealistic because the listed real estate market is on the increase again.The Norwegian wealth fund, with an asset with a total of about €790 billion the world´s largest of its kind, has invested 3.1 percent of the worldwide investments into real estates. From them more than one fifth are located in Great Britain. Still in July of this year after the Brexit vote the fund bought a retail real estate in the top location Oxford Street in London for app...[…]