Sovereign wealth funds’ total combined assets have climbed 9 percent from a year ago to $3.51 trillion, Preqin Ltd. said in an e-mailed press release.
Asia controls about 40 percent of the global sovereign wealth fund assets, the London-based research firm said in a statement yesterday. Those in the Middle East and North Africa region command a 35 percent share and Europe 19 percent.
Rebounding global stock markets helped some of the sovereign wealth funds recover losses from the global economic crisis, Preqin said. Others shrank as governments tapped their capital to cover deficits and support financial institutions.
Norway’s Government Pension Fund - Global returned more than 25 percent in 2009, leading to one of the largest increases in assets overseen by any single sovereign wealth fund and bringing its size over $400 billion, Preqin said.
Russia’s Reserve Fund more than halved in size in the past year to about $60 billion, one of the sharpest falls, as the government withdrew money to help cover its federal fiscal deficit, Preqin said.
Abu Dhabi Investment Authority is likely the largest sovereign wealth fund in the world. It and its Norwegian and Chinese peers are the three largest sovereign wealth funds in the world, managing over $1 trillion between them, Preqin said.
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