02.02.2016 - Sovereign wealth funds sell stocks
With tax revenues plunging in oil-producing countries, some asset managers are putting part of the blame for January's stock selloff at the foot of sovereign wealth funds - forced to sell equities to make up government budget shortfalls. The FT reports the Saudi Arabian Monetary Agency as pulling $70B from external managers last year, and Kazakhstan as also making asset sales. SWFs, of course, own plenty of property and P-E, but when money is needed quickly it's stocks that are easiest to unload...............................................Full Article: Source
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