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Monday, 20 March 2017

Sovereign wealth funds move beyond trophy assets

Sovereign wealth funds move beyond trophy assets:

"Sovereign wealth funds are shifting away from luxury businesses, buying more hotels and increasing their allocations to private deals as they look to offset falling state revenue from lower oil prices, a report on their investment strategies has revealed.

Investment by national funds in trophy assets aimed at wealthy customers, including Tiffany, Porsche and LVMH, has fallen from $13bn in 2009 to just $1.4bn in 2015, according to the latest figures available for analysis by Madrid-based IE Business School.

By contrast, sovereign wealth funds increased their spending in the hotel sector from $500m in 2012 to $7bn in 2015. The number of direct investments — rather than through a fund — has also increased from 105 in 2012 to 178 in 2015."



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