16.12.2008 - SWFs shrinking, economist claims
From Financialweek.com: Forget $2 trillion in assets, says Brad Setser, a trade specialist - the biggest funds are falling well short of projections. While the combined assets of the largest sovereign funds were projected to hit or surpass $2 trillion this year, Setser estimates that they’re likely to total no more than $1.5 trillion. “Sovereign wealth funds are fundamentally vehicles for investing central bank reserves,” wrote Mr. Setser. “And this year classic reserve assets have done rather well. Equities and real estate have not.”.... Full Article: Source