Sovereign wealth funds: the Gulf’s biggest power players

Did you know that the world’s first sovereign wealth fund was set up in the GCC? Kuwait Investment Authority was established in 1953, eight years before the country’s independence, to invest surplus oil revenues.
Now every GCC country has a sovereign wealth fund responsible for financial returns and national economic development.
“Today there are over 100 sovereign wealth funds holding $11 trillion worth of assets under management. Forty percent of those assets are here in the region,” said Javier Herrera, partner at Kearney.

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