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Sovereign wealth funds may reach $8 trillion by 2015
Capital managed by global Sovereign Wealth Funds (SWFs) has…
November 18, 2009 4:13 by kippreport
Capital managed by global Sovereign Wealth Funds (SWFs) has fallen to around $3 billion- $3.5 trillion in the last year, but they are starting to see “sustained growth,” says a report by the Ernst and Young ITEM Club. According to the report, with an asset growth of 12-15 percent per annum, total funds under management by SWFs could reach $8 trillion by 2015. The amount is however lesser than the $10 trillion plus that was predicted for this date before the recession.
“Although the lessons of the financial crisis will lead many countries to build an even larger cushion of reserves, the desire to diversify and invest part of these means that the rise of the sovereign wealth fund will resume,” Francis Small, Global Sovereign Wealth Fund Leader at Ernst & Young said in the release.