Mideast SWFs To Boost Emerging Markets Exposure, Invesco Says - Middle East Real Time - WSJ:
"Buoyed by oil prices above $100 a barrel and a growing confidence in the global economy, sovereign wealth funds in the Middle East expect to receive more funding this year, providing them with extra financial firepower to raise their investments into emerging markets and asset classes such as private equity and real estate, according to an Invesco study.
Latin America, Africa and China are likely to be the main beneficiaries of the continuing shift towards emerging markets by the world’s sovereign funds despite their historical preference for developed markets such as the United Kingdom, Invesco said in its survey of 52 sovereign investors who collectively manage $5.7 trillion in assets.
“Is it just looking for short term gain? We think no, this is strategic and structural. This is partly driven by the fact they [SWFs] were underweight in these asset classes that produce high yields. Interest rates are low so infrastructure and real estate represent a really good opportunity,” said Nick Tolchard, head of Invesco Middle East."
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