Global Growth to Influence Wealth Fund Withdrawals, ADS Says - Bloomberg

Global Growth to Influence Wealth Fund Withdrawals, ADS Says - Bloomberg:

"Global economic growth will determine whether sovereign wealth funds withdraw further funds from global markets, according to ADS Holding LLC Chairman Mahmood Al Mahmood.
Funds are "there to act as a tool for governments when they’re needed," Al Mahmood, who is also a board member at Abu Dhabi sovereign investment fund Mubadala Development Co., said in a TV interview with Bloomberg Markets Middle East on Sunday. "Is this the end of it? It depends how the economy is whether they’ll continue operating the same way they did in the past."
Sovereign funds from Qatar to the United Arab Emirates and Russia, which amassed about $7 trillion of assets as oil soared higher than $100 a barrel, have been liquidating investments after a more than 70 percent slump in crude since 2014. During the boom, oil countries led a surge in investments in the U.S. and Europe, buying stakes in companies such as Barclays Plc as well as trophy assets including Manhattan hotels, European soccer clubs and London luxury homes."



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