Middle East sovereign funds spend more on alternative assets - report | ZAWYA MENA Edition:
"Sovereign wealth funds in the Middle East are directing a greater proportion of their assets away from traditional investments such as equity and bonds and towards alternative assets, following a global trend, according to a new report by PwC. Over a seven-year period to 2016, the amount of funds allocated to alternative assets (including real estate, infrastructure, private equity, hedge funds and commodities) globally by sovereign wealth funds (SWFs) increased by 4 percent to 23 percent of the $7.4 trillion total assets under management (AuM), said the report which was co-authored with the World Gold Council. PwC's sovereign investment fund director, Tarek Shoukri, told Zawya in an emailed response to questions that according to its analysis, there are 14 active SWFs in the Middle East, with combined assets under management of $2.8 trillion, or 38 percent of the global total held by SWFs. Their investments in alternative assets is currently much smaller than the world’s aggregate, but it is growing."
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