Norway’s $1.15 trillion sovereign wealth fund remains invested in British bonds although the country’s gilts are likely to be relatively volatile going forward, the Norwegian Sovereign Wealth Fund’s deputy CEO said on Friday.
“It’s a challenging time for the UK, so in many ways that hasn’t really changed. I think we should expect there could be a higher volatility in the UK gilts than in some of other big markets”, said Trond Grande, Deputy CEO.
By the end of 2021, the British Pound was the fund’s fourth biggest fixed income.
Now according to Goldman Sachs Research, UK even after weeks of financial turmoil is expected to slide into a deeper recession than previously forecast.