| A number of sovereign wealth funds (SWFs) have slowed GCC-wide investment, in favour of more domestic infrastructure projects. Although this strategy remains heavily dependent on the political status of each SWF’s home state, and is likely to reverse overtime, it has also been responsible for a slowing of cross-border GCC flows. Many independent and bank-owned fund managers who took part in the Barometer saw crossborder distribution in the GCC as key to their future development, albeit a trend that will develop slowly.
Barometer respondents said that a network of independent fund managers – many based in the UAE and Qatar – are best placed for the GCC and wider-MENA’s cross-border distribution opportunities............................................Full Article: Source |