13.10.2008 - SWFs seek safety
From IHT: Don't expect Middle Eastern sovereign wealth funds to jump on the government bailout bandwagon. As stock markets around the world have cratered, some of the world's largest wealth funds have been hoarding cash, much like the hedge funds and big institutional investment funds that have been running for cover in recent weeks. The oil-rich emirate of Abu Dhabi oversees the world's largest government-sponsored fund and has been steadily increasing its cash position to the highest level it has been in years. According to people who have been briefed on its investment strategy, the Abu Dhabi Investment Authority now has a cash position between 10 and 20 percent of its total size, estimated at $550 billion. The sum could reach $100 billion..... Full Article: Source
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