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Mark Gilbert

$1 Trillion Fund Backs London's Post-Brexit Property

Norway's wealth fund backs the U.K. capital after Brexit.
U.K. Reliance on Kindness of Foreign Investors May Be Overstated
Matthew Lloyd/Bloomberg

Norway's sovereign wealth fund, the world's biggest, is backing London's real-estate market to survive the so-called Brexodus of bankers that the U.K.'s exit from the European Union seem set to trigger. It's a brave bet, to say the least.

The fund posted a return of 13.7 percent in 2017, as surging global equity markets helped the owner of an average of 1.4 percent of the world's listed stocks to a record year.