By: Mahmoud Gamal
Abu Dhabi – Mubasher: The UAE has acquired around 14.6% or $1.191 trillion of total global sovereign wealth funds’ assets worth $8.14 trillion, data by the Sovereign Wealth Fund Institute (SWF Institute) showed.
Abu Dhabi Investment Authority (ADIA) was ranked the third among the largest sovereign funds with $697 billion in assets, according to the SWF Institute’s recent report in February.
Meanwhile, Investment Corporation of Dubai (ICD) came in the 13th spot with assets of around $233.8 billion, followed by state investment fund Mubadala Development Company (MDC) with around $226 billion in assets, the report added.
Emirates Investment Authority came in the 28th place among global sovereign investment funds with assets worth $34 billion, the SWF Institute said.
Moreover, the Government Pension Fund of Norway remained the world’s largest sovereign wealth fund after its assets jumped to $1,074.60 billion, according to the report.
Additionally, Kuwait Investment Authority maintained its fourth place with $592 billion in assets, while Saudi Arabian Monetary Authority’s (SAMA) sovereign fund came in the sixth place with assets worth $515.6 billion, the report said.
Translated by: Mai Ezz El-Din