The Sovereign Wealth Fund Institute (SWFI), in a recent report prepared in partnership with Marmore Mena Intelligence, revealed that sovereign wealth funds in the GCC have increased by 8.3% since 2010.
The institute attributed this rise to the desire of the GCC countries to reduce their dependence on oil revenues and diversification of their economies, noting that the countries of the region allocated part of their revenues to investments through sovereign funds. The institute estimated the value of the assets managed by the two largest funds in the UAE at AED 4 trillion ($931 billion), with 2.54 trillion dirhams ($ 697 billion) managed by the Abu Dhabi Investment Authority (ADIA), the first regionally and the third globally in terms of volume of assets under management, and 855 billion dirhams ($234 billion), managed by Investment Corporation of Dubai, which ranks fifth regionally and 12th in the world in terms of volume of assets under management.
Source: Al Khaleej newspaper, Edited
