Apr 23, 2018

Sovereign wealth funds grow in size and influence

Photo by Safin Hamed/AFP/Getty Images

Sovereign wealth funds now manage a whopping $7.45 trillion in assets, up 13% from last year, according to a new report from research firm Preqin.

Why it matters: State-backed investment funds have amassed an unprecedented amount of influence in global capital markets.

More data from the Preqin report:

  • Around $5.5 trillion is managed by just 10 SWFs.
  • 71% of SWFs have seen asset increases over the past year (up from 51% a year ago). Much of that rise can be attributed to the bull market for public equity.
  • 51% of the total capital is held by hydrocarbon-funded SWFs.
  • The top asset classes for SWFs are public equities (82%) and fixed income (78%).
  • 60% of SWFs invest in private equity. A notable exception remains Norway's GPFG, which also is the world's largest SWF with $1.06 trillion in AUM.
  • Only 35% invest in hedge funds, although that percentage has increased in each of the past two years.

Go deeper

Trump to install loyalist Ric Grenell as acting intelligence chief

Photo: Sylvain Gaboury/Patrick McMullan via Getty Images

President Trump confirmed in a tweet Wednesday night that he will install Richard Grenell, the current U.S. ambassador to Germany and a staunch defender of the president, as the acting director of national intelligence.

Why it matters: The role, which was originally vacated by Dan Coats in August 2019, is one of grave responsibility. As acting DNI, Grenell will be charged with overseeing and integrating the U.S. intelligence community and will advise the president and the National Security Council on intelligence matters that concern national security.

Go deeperArrowUpdated 16 mins ago - Politics & Policy

What to watch in the Nevada debate

Photo Illustration: Eniola Odetunde/Axios. Photos: Cengiz Yardages and Mario Tama/Getty Images

Michael Bloomberg's wealth will fuel rather than shield him from tests and attacks when he makes his Democratic primary debate debut on the stage tonight in Las Vegas.

The state of play: Bernie Sanders is still the front-runner. So the other candidates must weigh which of the two presents a bigger threat to their viability: Sanders, with his combined delegate, polling and grassroots momentum? Or Bloomberg, with his bottomless budget?

Go deeperArrowUpdated 22 mins ago - Politics & Policy

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