London king of sovereign wealth funds
Wednesday 30 March 2011 - by Andrew Hickley
London is in "pole position" to attract a growing share of sovereign wealth fund investment, according to a new report.
"A number of funds from Kuwait, Brunai, Singapore and United Arab Emirates have set up representative offices in London," says Marko Maslakovic, senior manager of economic research at TheCityUK.
"The UK's open and competitive market for international investment puts London in pole position to capture a growing share of this market over the coming years."
The report also argues that the crisis in the Arab world is unlikely to significantly harm growth of the funds, which saw an estimated 11 per cent rise in 2010.
National funds for countries such as Libya, Algeria and Bahrain collectively manage around $150bn (€106.5bn) of assets, with this figure representing only 3 per cent of global SWPs under management.
"Countries with the largest SWFs are so far not affected by the disruption," it states.
In addition, the report calculates that an additional $6.8tn (€4.82tn) was held by other sovereign investment vehicles in 2010, with these including pension reserve funds and development funds.
|Login||Register||Most read||Most commented|
Will markets in 2012 have a tougher time than 2011?