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- July 1, 2013: Vol. 25, Number 7

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Middle Eastern wealth funds make shift away from West

by Sara Kassabian

 

Sovereign wealth funds based in the Middle East are not as enamored with U.S. and European real estate investments these days.

A new report by KPMG, titled Emerging Trends in the Sovereign Wealth Fund Landscape, says that despite a longtime interest in investment opportunities abroad, many of the 10 sovereign wealth funds (SWFs) that are controlled by members of the Gulf Cooperation Council (GCC) have decided to start keeping their nearly $1.7 trillion in assets under management closer to home.

That is underscored by a separate report written by Invesco, which found that Middle East investments made by the SWFs in question went from 33 percent of their total investments in 2011 to 56 percent in 2012. 

The Middle East has had a nearly 70 percent increase in Gulf-focused investments

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