Norway wealth fund CEO sees market weakness

Norway wealth fund Nikolai Tangen

BERLIN: The head of Norway’s US$1.4 trillion (RM5.9 trillion) wealth fund says he expects a lengthy period of weakness in financial markets and warned that inflation could be the most significant challenge ahead.

Nicolai Tangen, chief executive officer of Norges Bank Investment Management, told Germany’s Frankfurter Allgemeine Zeitung (FAZ) that after achieving an average rate of return of 6% for a quarter century, the fund is now preparing for “a decade of lower returns.”