French Finance Gets a $2 Trillion Investor Warning
A key fund raises the alarm over Europe’s waning appeal, one with real consequences for a region with huge investment needs.
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Bonjour et Bienvenue to the Paris Edition. I’m Bloomberg Opinion columnist Lionel Laurent. If you haven’t yet, subscribe now to the Paris Edition newsletter.
The boss of Norway’s $2 trillion sovereign wealth fund, Nicolai Tangen, visited the annual Euronext conference in Paris this week to issue a stark warning to bankers, investors and officials: Europe is losing. Citing the (Swedish) pop hit “The Winner Takes It All,” he pointed to his own index-tracking fund as an indicator of where global capital has gone over the past decade, with its US allocation rising to 55% from 37% while Europe has halved to 21%.