Assets under management of sovereign wealth funds in the Gulf Cooperation Council have expanded to $4 trillion over the past two years driven by higher oil prices. This is the outtake of a report from S&P Global, as carried by The National, which noted that the amount is greater than the combined sovereign wealth fund assets of Asia, Latin America, and sub-Saharan Africa. “GCC sovereign wealth funds have largely benefitted from external surpluses generated by the latest energy revenue windfall across the region to increase their…
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