Middle Eastern sovereign wealth funds liquidated or cancelled investments worth about seven per cent of their total assets last year, according to a study released on Monday by asset manager Invesco, in a sign of pressure from low oil prices.
The top three oil-dependent sovereign wealth funds have been selling European equity holdings since May, a study showed on Monday, another sign of petrodollars being withdrawn from world markets.
However, Asian funds have continue
Middle Eastern sovereign wealth funds doubled their acquisitions to $18.8 billion, with the UK and US as firm targets, a report said.
This trend is expected to continue apace, with the range of target markets likely to broaden, ad
The pent up global demand for Islamic pension funds is currently between $160 billion and $190 billion, a report said, adding that most of these funds are parked under conventional sovereign pension funds due to lack of investing options.
Dubai, which narrowly averted a bond default in 2009, could use money raised by its sovereign wealth fund to help repay $3.8 billion in bonds owed by state-linked firms which mature next year, a source familiar with the matter said on Tuesday.
Sovereign wealth funds picked up their pace of spending in the second half of 2009 after an extended period of retrenchment during the global financial crisis, a recent study said.
The last two quarters of 2009 accounted
Property and construction executives called for intervention by Gulf governments and the sovereign wealth funds (SWF) they control on Monday to revive regional real estate sectors hit by the credit crisis.
A property boom across the top oi
The United States would welcome investment from sovereign wealth funds as it grapples with the impact of the global financial crisis on its economy, deputy US treasury secretary Robert Kimmitt said on Tuesday.
Kimmitt is on a five-country
Nakheel, a leading Dubai-based developer, said it had been approached by Gulf sovereign wealth funds keen to invest in the region.
"What I do see is a lot of Gulf sovereign wealth funds are beginning to come and see Nakheel and I'm surpris
Sovereign funds wanting to buy shares in Italian companies should "generally" stay below 5 percent, Italian Foreign Minister Franco Frattini has said.
Frattini's comments, in an Il Messaggero newspaper an interview, come after Italy's form