Once a year, the man running the world’s biggest sovereign wealth fund travels around China for a week.
Though assets from that country only make up about 1.5 percent of the $860 billion Norwegian wealth fund’s portfolio, Yngve Slyngstad, its chief executive officer, says almost all investment decisions are affected by what happens in China.
Understanding what’s poised to become the world’s largest economy is crucial for Slyngstad as he manages a fund that Norway predicts will reach $1 trillion in less than three years. He’ll be in China this month, visiting Beijing and other cities.
“Every time I come back, my perception of China has changed,” Slyngstad, who turned 52 today, said in an Oct. 29 interview in his fifth-floor office in Oslo. “There has been more and more of a question mark over what’s the next step for that economy. The uncertainty among investors is partially due to the very simple fact that it’s more difficult to know what’s happening in that large economy than in any other.”
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