| Sovereign wealth funds continue to pull money out of investments with global asset managers, reports Attracta Mooney at Financial Times. SWFs, government-owned investment pools, sopped up petrodollars when oil prices were north of $100 a barrel. In turn, this money was pumped money into funds run by the world’s biggest asset managers.
But after oil prices plunged in summer 2014, governments of oil-producing countries that were sitting on comfortable budget surpluses suddenly were facing deficits. In turn, SFWs, which own a lot of property and private equity investments, have selling their liquid assets (stocks and bonds) first...............................................Full Article: Source |