Brexit Stock Drop Not Over for Norway Manager of $10 Billion
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Worse is to come for equity markets after the U.K.’s vote to exit the European Union, according to the tactical asset allocation unit of Norway’s largest listed life insurer, Storebrand ASA.
“It’s still too early with so much uncertainty,” Olav Chen, who oversees 80 billion kroner ($10 billion) at Storebrand Asset Management, said in an interview last week. “I don’t think we’ve seen the bottom of the correction yet.”