Middle-east Arab News Opinion | Asharq Al-awsat

Middle East SWFs Seen Tripling to $5 Trillion by 2010 - ASHARQ AL-AWSAT English Archive
Select Page

DUBAI, (Reuters) – Sovereign wealth funds in the Middle East could see a threefold surge in assets under management to $5 trillion within two years, according to a report issued on Monday.

The government-owned funds are estimated to be currently worth more than $2 trillion, thanks to high energy and commodity prices.

A.T. Kearney, a management consulting firm, estimates the value of such assets globally was closer to $3.3 trillion in 2007 and predicted it would rise to $15 trillion in 2015.

Middle Eastern wealth funds account for half of last year’s total figure, or $1.65 trillion, the firm said.

The world’s biggest wealth fund is the Abu Dhabi Investment Authority, which has $875 billion worth of assets under management, while Saudi Arabia’s fund has $300 billion, making it the fourth-largest, the report said. “With $4 trillion available in the Middle East for investment and very healthy Sovereign Wealth Funds, the outlook for economic development in the region is very positive,” Alexander von Pock, the firm’s manager of financial services, said in the report.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

More Posts

Follow Me:
FacebookGoogle PlusYouTube