Sovereign investors pulled back from equities in fourth quarter -report | ZAWYA MENA Edition:
Sovereign wealth fund investment in equities via external asset managers fell in the final quarter of last year, data from research firm eVestment showed on Thursday.
A total of $4.85 billion was pulled from global equity strategies overseen by third-party fund managers during the quarter, after two quarters of inflows, while $1.87 billion left emerging market equities, outflows particularly striking given global stocks have continued to touch record highs.
With the exception of the third quarter, when there was a surge in investment into passively managed stocks in the United States and equities in mainland China and elsewhere, sovereign funds have been removing assets from equity strategies at an elevated rate since 2018.
Sovereign wealth funds, among the largest investors in global stocks, own close to $3 trillion in equities, including assets they hold directly as well as through third-party managers, and about half as much in fixed income, estimates State Street Global Advisors.
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