Dubai – Mubasher: The Dubai International Financial Centre (DIFC) said in a new report that the values of the biggest 13 Sovereign Wealth Funds (SWFs) in GCC countries have reached $2.89 trillion by the end of June 2017.

Among these funds, six are in UAE, whose combined value amounted to $1.29 trillion (AED 4.74 trillion) and account for 44.6% of the 13 funds, according to the DIFC’s Wealth & Asset Management Report.

The report forecast that fund managers in the UAE will achieve a growth in total assets to $18.9 billion by 2020 from $1.6 billion in 2016, registering a 1,081% growth. 

GCC fund managers’ assets are projected to increase to $110.9 billion by 2020 from $45.8 billion in 2016, the report concluded.