Saudi Arabia, Abu Dhabi among largest sovereign wealth funds

Saudi Arabia’s SAMA Foreign Holdings fund was ranked fourth in the list of the world’s largest sovereign wealth funds, despite its assets falling by $33.9 billion to $598.4 billion by the end of Q2-2016, the Sovereign Wealth Fund Institute (SWFI) said in its monthly report for June.

The kingdom’s Public Investment Fund (PIF) maintained its position as the 13th largest sovereign wealth fund with assets amounting to $160 billion in the same period.

Meanwhile, the Abu Dhabi Investment Authority (ADIA) remained second on the list, with assets growing by $19 billion to $792 billion.

The Kuwait Investment Authority (KIA) claimed the fifth spot with assets worth $592 billion, while the Qatar Investment Authority (QIA) placed ninth at $256 billion.

Norway's Government Pension Fund maintained its ranking as the world's largest sovereign wealth fund, with $792 billion worth of assets during the period.

The total assets of sovereign funds rose by 1 percent to $7.26 trillion year to date, the report added.

Saudi Arabia accounted for 10.5 percent, or $758.4 billion of total sovereign wealth, while the United Arab Emirates (UAE) accounted for 17.2 percent, or $1.24 trillion.