14.10.2008 - SWFs now prefer hoarding cash to rescuing U.S. financial firms
From Nytimes.com: Don’t expect Middle Eastern sovereign wealth funds to jump on the bailout bandwagon. Given the recent volatility in the stock markets, some large sovereign wealth funds have been hoarding cash, much like the hedge funds and institutional investment funds that have been running for cover. The oil-rich emirate of Abu Dhabi oversees the world’s largest government-sponsored fund, for example, and has been steadily adding to its cash position, which is at its highest in years. According to people who have been briefed on its investment strategy, 10 to 20 percent of $550 billion controlled by the Abu Dhabi Investment Authority is now in cash..... Full Article: Source