Assets under management of sovereign wealth funds (SWFs) increased for the third year running in 2011 to a record US$4.8 trillion, according to TheCityUK’s report ‘Sovereign Wealth Funds 2012′. There was an additional US$7.2 trillion held in other sovereign investment vehicles, such as pension reserve funds, development funds and state-owned corporations’ funds, and US$8.1 trillion in other official foreign exchange (FX) reserves.
TheCityUK’s projections are for SWFs’ assets to grow by 8% in 2012 to US$5.2 trillion, following the 9% increase in 2011. Taken together, governments of SWFs, largely those in emerging economies, have access to a pool of funds totalling $20 trillion. Some of these funds could in future be channelled towards funding development of infrastructure for which there is global demand.
The UK is an important centre for SWFs as a:
- Key location from where some of the funds are managed. A number of funds from Kuwait, Brunai, Singapore and United Arab Emirates have representative offices in London.
- Clearing house for SWF transactions.
Major recipient of investment funds, the UK’s 17% of global SWF investments in the past six years was second only to the 19% share of the US.
Marko Maslakovic, senior manager, economic research at TheCityUK, said: “The UK is the leading destination for SWF investments in the EU, attracting more capital than France, Germany and Spain combined. The most recent example is the acquisition of nearly 9% of the holding company for Thames Water by the China Investment Corporation, the fund’s first major share purchase in the UK.”
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more