GCC sovereign wealth funds’ assets under management grow to $4 trillion

GCC sovereign wealth funds’ assets under management have grown by 20 per cent on average in the past two years to reach about $4 trillion, driven by higher oil prices, according to a new report.

This is the equivalent of about 37 per cent of global SWF AUMs, data and research company S&P Global Market Intelligence said in a report on Tuesday.

Their size is almost the equivalent of the sum of all the AUMs of Asia, Latin America and sub-Saharan Africa’s SWFs, the company said.

Among the world’s 10 largest investments on behalf of state-owned…