Middle East sovereign wealth funds ‘coping’ with low oil price environment | The National:
"Sovereign wealth funds from across the Middle East, which reined in spending last year unlike their global peers, are coping with the low oil price environment, according to the asset manager Invesco.
Confidence remains stable in the Middle East, where a lot of work was done on risk management, governance and asset allocation in the wake of the global financial crisis, said Alex Millar, the head of Invesco’s Emea sovereigns division.
“As a consequence, while they [Middle Eastern funds] are in an environment that is challenging, they feel better able to cope with that," said Mr Millar. “Clearly, if oil prices remain low, there may well be future withdrawals but what we’re seeing is that a number of funds thought they might have to face redemptions but haven’t. Governments are using a variety of sources for funding and sovereigns are just one of those."
"
'via Blog this'
No comments:
Post a Comment