Yngve Slyngstad: ignore Brexit and carry on

Yngve Slyngstad, who runs Norway’s $1trn investment fund, says investors should pay scant attention to Brexit headlines and think instead of the very long-term.

By
published
in Features

934_MW_P14_Strategy_Col

Ignore all the noise

Yngve Slyngstad, (pictured, below right), may not be the best-known money manager, but he is one of the biggest players in the market. He has been running Norway's $1trn sovereign wealth fund, which owns nearly 1.5% of global equities, since 2008.

934_MW_P14_Guru

Par2282853
(Image credit: 2008 AFP)

"If we look past this ten, 20, 30 years the UK will be an important economy in Europe, and it will remain in Europe. We expect business on that timeline to develop positively no matter what the outcome." In the long run, he notes, "the big driver of the economy and of our... results is development in technology more than political decisions".

So what does he look at? He is not overly worried about trade ("the Chinese economy and the US... are very intertwined"), but he adds that "what moves the markets today is to a large extent either events in the US or... China... these are two markets that you just have to pay very close attention to".

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

He is more troubled by the trend for fast-growing firms such as ride-hailing app Uber to stay private. "It's in everyone's interest that we have a mechanism to have large companies... being governed and having ownership change between different participants... How do we get stock exchanges to realise... an important part of their role is to make it attractive to be a listed company?"

MoneyWeek
Latest