Sovereign Wealth Funds Manage $12.5 Trillion in Assets Worldwide
According to Global SWF, sovereign wealth funds are estimated to manage approximately $12.5 trillion in assets globally as of the beginning of this month, with the top six cities accounting for two-thirds of this wealth.
Abu Dhabi Ranked as the Richest City in the World
Abu Dhabi is considered the richest city in the world in terms of sovereign wealth fund capital, with $1.7 trillion in assets across its funds.
Top 10 Sovereign Wealth Fund Hubs:
- Abu Dhabi ($1.7 trillion)
- Oslo ($1.6 trillion)
- Beijing ($1.3 trillion)
- Singapore ($1.14 trillion)
- Riyadh ($1.12 trillion)
- Hong Kong ($1.11 trillion)
- Kuwait ($978 billion)
- Doha ($510 billion)
- Dubai ($490 billion)
- Melbourne ($239 billion)
Challenging Times Ahead for Sovereign Investors
According to the same report, the macroeconomic context has once again made it difficult for sovereign investors to thrive in 2023. While inflation appears to be under control and interest rates may finally start to decrease soon, financial markets reflect geopolitical uncertainties and concerns about a potential economic crisis in the coming months. The World Bank estimates global GDP growth for 2023 at a modest 2.1%, followed by a timid recovery to 2.4% in 2024. Meanwhile, climate change continues to be a critical issue, and AI is poised to be a global disruptor.
