16.07.2012 - ME SWFs look inward
As GCC SWFs begin to invest closer to home, the West may find itself with an increasingly empty begging bowl. Major sovereign wealth funds (SWFs) in the Middle East are investing less internationally than they have in the last three years, according to the annual asset management study by US-based investment firm Invesco. The main reason for the shift in focus from international to regional investment has been the current unrest in the region, the study revealed. "While GCC locals are generally wealthier and more content than locals in the MENA regions affected by the Arab spring, GCC governments are still keen to demonstrate that the region's large commodity-linked wealth is reaching the local population," it said...............................................Full Article: Source
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