Yngve Slyngstad is the chief executive officer of the $760 billion Norwegian Government Pension Fund, and according to a recent interview with Bloomberg he is still quite optimistic on growth in China. While the Chinese economy has garnered doubters around the globe, Slyngstad as director of the world’s largest sovereign fund has taken the side of China’s government officials.

CEO Of $760 Billion Fund Still Likes China

“We’ve noticed that there has been a change in perception about Chinese growth in the years coming. However, the growth that is expected by the authorities is still quite high. We still have confidence that long-term prospects for China are quite good.”

As the fund looks to increase exposure to emerging markets to levels equal to its developed world holdings, China will no doubt see more investments. In the past six months, the fund has increased Chinese holdings from 1.7% to 2%, versus 31% in U.S. equities and 14% in the U.K. With so much room to grow Chinese exposure, and the rapid growth of assets under managments, the pension fund may need China to succeed almost as much as the Chinese do.

The following charts of the Government Pension Funds holdings from its most recent quarterly report:

CEO Of $760 Billion Fund Still Likes China CEO Of $760 Billion Fund Still Likes China CEO Of $760 Billion Fund Still Likes China

Via: floatingpath