| Sovereign wealth funds (SWF), including the state-owned investment funds in the GCC region, pulled 16.2 billion from third-party asset managers in the second quarter, up from a revised 10.1 billion in the first quarter, according to the latest data from research firm eVestment.
The outflows, according to the data, were the second largest in five years, exceeded only by the 22 billion withdrawn by sovereign wealth funds in the third quarter of 2015, when oil prices tumbled around 25 per cent. Peter Laurelli, global head of esearch at eVestment, which collates data from 4,400 firms managing money on behalf of institutional investors, said SWF flows to external money managers appeared "highly correlated" to global commodity prices, particularly oil prices...............................................Full Article: Source |