Property sale signs are seen outside of a group of newly built houses in west London, Britain, November 23, 2017. REUTERS/Toby Melville
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There may be worrying developments in some property markets, but the world's biggest sovereign wealth fund says it has no intention of pulling back from real estate.Overall, the fund holds about $1 trillion in stocks, bonds and real estate, and is in the process of building its property holdings to about 7 percent of its total portfolio.While Kallevig acknowledges that in times of dislocation it's good to be cautious, the alarm bells are nowhere near as loud as they were in early 2016, when the fund took a six-month hiatus from property buying to figure out what was going on.The fund's strategy is to focus on about 10 global cities.The fund owns large parts of Regent Street and the Mayfair district in London, and even snapped up a retail and office property on Oxford Street only weeks after the Brexit vote.
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