Fund Manager: A Donald Trump Win Would Create 'Noise,' Not A Recession

Investors worried that a Donald Trump White House will bring chaos to the global markets should find some comfort in what one fund manager has to say.

Dagfin Norum, chief investment officer of Storebrand Asset Management in Norway, told Bloomberg that a Trump victory in the U.S. election this week will only create short-term volatility and the impact to global markets will be less than what was seen immediately following the Brexit vote in June.

The people of Britain voted in late June to officially remove themselves from the European Union. Economists and experts predicted that the Brexit results would result in economic chaos, but this has yet to be seen.

Norum views the U.S. election as a non-event and is assuming Hillary Clinton will emerge victorious.

"We don't think the effects of that are so big that it will lead to a global or U.S. recession," he added.

Norum argued that the results of the U.S. election has little impact to the overall markets. The fund manager, who overseas $51 billion in assets, also believes a Trump win would create "noise and then markets will gradually calm down."

Finally, Norum stated a big risk to the global market is how central banks move and communicate as they move closer to raising interest rates. He stated that any move should be gradual as global markets can't cope with a rapid shock.

"It's hard to see that happen without any market impact," Norum concluded. "You must be prepared be for more volatility going forward."