UAE Business: Four of UAE’s SWFs in world’s top 20 largest funds – Gulf Digital News

UAE Business: Four of UAE’s SWFs in world’s top 20 largest funds – Gulf Digital News

Four of the UAE’s sovereign wealth funds (SWFs) appear on the world’s top 20 largest funds list, said leading financial services PR firm Financepr.com in a new report, adding that the country seems open to the option of alternative investments.

Abu Dhabi Investment Authority (ADIA), the Investment Corporation of Dubai, Mubadala Investment Company, and ADQ allocate 25%, 65%, 48%, and 58%, respectively to alternative investments, it added.

Saudi Arabia’s National Development fund allocates its asset funds to alternative assets. The fund ranks 18th on the list of the largest SWFs, with $93 billion assets under management. The Public Investment Fund (PIF) manages assets worth $480 billion and allocates 56% of this to alternative investments.

As of January 2022, the world’s top 10 largest sovereign wealth funds (SWFs) manage assets worth $7.4 trillion, the Financepr.com report said.

The world’s largest SWF, Norges Bank Investment Management (NBIM), handles assets worth $$1.33 trillion. According to the data presented by Financepr.com, the Norwegian Central Bank comes right ahead of China Investment Corporation, whose assets under management total $1.222 trillion.

The two sovereign wealth funds (SWFs) are the only ones whose assets surpass the $1 trillion mark. Other