The assets of sovereign funds in the UAE rise to 4.268 trillion dirhams

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The value of the assets of sovereign funds in the United Arab Emirates increased by 5.96%, equivalent to 65.43 billion dollars during the period from the end of last May to mid-August, to come first in the Arab world and third in the world after China and Norway.

According to the “Vision” statistics, which was based on data from the Institute of Sovereign Wealth Funds«ISWF» , The size of the assets of sovereign funds in the UAE rose to 1162.36 billion dollars (4.268 trillion dirhams) as of mid-August, compared to about 1097 billion dollars (4.030 trillion dirhams) by the end of May 2020.

The sovereign assets of the UAE were distributed among 5 funds, equivalent to a percentage 14.8% Of total global fund assets, up from 13.3% in the previous report.

The report showed that the total global sovereign assets decreased from 8229.94 billion dollars in May (93 sovereign funds) to 7832 billion dollars (88 global funds) after excluding the assets of 5 funds, in addition to the decline in the assets of some funds due to the emerging Corona crisis (Covid-19).

The huge volume of sovereign assets supports the economic recovery process after the end of the Corona pandemic, faster than other economies that lack financial liquidity to revive the sectors affected by Corona, and the funds represent an opportunity to rotate the state’s financial assets, and achieve remunerative returns to finance some budget requirements and diversify sources of income..

And the International Monetary Fund had confirmed earlier that oil exporters need to find new areas for growth in light of the current slowdown caused by the sharp drop in oil prices and the outbreak of the Corona virus, and sovereign wealth funds and regional institutions can play a role in the recovery of the economy.

The increase in the size of the sovereign assets of the UAE came due to the increase in the assets of the Dubai Government Investments Corporation by 27.51%, equivalent to 65.85 billion dollars during the period from last May 30 until mid-August, bringing the assets of the institution to 305.233 billion dollars, compared to 239.37 billion dollars in the previous report.

After this growth, the Dubai Corporation entered the list of the 10 largest global sovereign funds, while the Abu Dhabi Investment Authority topped the largest Arab sovereign funds and the third in the world, with assets of $ 579.621 billion.

The Mubadala Fund’s ranking improved one to 12th globally, with assets of $ 232.137 billion, and the Emirates Investment Authority’s ranking improved one notch to 26th globally, with assets of $ 44.515 billion.

The Sharjah Asset Management Holding Company ranked last locally, but its ranking improved globally from 75th in the previous report to the current 69th, with an asset value of $ 793 million..

At the global level, the government retirement fund Norway topped the list of the largest sovereign funds with total assets of 1,186.76 billion dollars, then China Investment Corporation with total assets of 940.6 billion dollars.

Whereas, the Kuwait General Investment Authority maintained the fourth rank in the world and the second in the Arab world with assets amounting to $ 533.7 billion, while the ranking of the Saudi Public Investment Fund improved one place to the eighth place with assets of $ 360 billion.





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