Sovereign wealth funds pull at least $46.5b from asset managers | GulfNews.com:
"Asset managers suffered record outflows from sovereign wealth funds in 2015 and have been warned to expect even greater redemptions this year as the oil price collapse drives governments to raid their state-owned investment vehicles.
State funds pulled at least $46.5 billion from asset managers in 2015 - far greater than the sovereign outflows recorded at the height of the financial crisis - in a bid to prop up their economies, according to figures given exclusively to FTfm by eVestment, the data provider.
The outflows have dented profitability at many of the world’s largest investment companies, including BlackRock, Aberdeen Asset Management, State Street and Franklin Templeton."
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