The UAE is prominent among sovereign wealth funds

Article Excerpt

Sovereign wealth funds are state-owned investment funds that taps into a country’s cash reserves—and the number of sovereign wealth funds globally has grown steadily over the past two decades, from 62 funds in 2000 to 176 in 2023. During that time, assets under management jumped from $1 trillion to $11 trillion. The largest of these wealth funds is the Norway Government Pension Fund with $1.5 trillion of assets. Other funds among the top 10 are the China Investment Corporation, the Kuwait Investment Authority, and the Saudi-based Public Investment Fund. The Alberta Investment Management Corporation also ranks among the top funds in the world. Among the top 20 sovereign wealth funds, five are located in the UAE, holding assets on behalf of the government. The largest of these funds is the Abu Dhabi Investment Authority (ADIA), with $853 billion of assets under management. Other large wealth funds in this country are the Investment Corporation of Dubai and Mubadala Investment Company. The ADIA invests globally in…