Africa accounts for 0.9% of $9trn global sovereign wealth funds – Report

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Data published by Sovereign Wealth Fund Institute (SWFI) shows that global sovereign wealth fund (SWF) assets have reached US$ 9,143,213,790,349 with Africa accounting for 0.9 per cent.

A breakdown of sovereign wealth fund market share by world region as of September 2021 showed that Asia accounts for 41.7 per cent of the assets, followed by Middle East with 32.8 per cent and Europe with 18.1 per cent.

North America accounts for 3.8 per cent of sovereign wealth fund assets; Oceania and Pacific, 2.3 per cent; Africa, 0.9 per cent and Latin America, 0.4 per cent.

The top 10 out of 100 largest sovereign wealth fund rankings by total assets revealed that Norway’s Norges Bank Investment Management is the world’s first and biggest with $1.4 trillion in assets.

It is followed by China Investment Corporation with $1,222,307,000,000; Kuwait Investment Authority, $692,900,000,000; Abu Dhabi Investment Authority, $649,175,654,400, and Hong Kong Monetary Authority Investment Portfolio, $580,535,000,000; Nigeria Sovereign Investment Authority (NSIA) is a Sovereign Wealth Fund $2,560,370,000

Others are GIC Private Limited (GIC), Singapore, $545,000,000,000; Temasek Holdings (Private) Limited (Temasek), Singapore, $484,441,000,000; National Council for Social Security Fund (NSSF), Beijing China, $447,358,000,000; Public Investment Fund of Saudi Arabia (PIF), $430,000,000,000 and Investment Corporation of Dubai $302,326,000,000.

The Nigeria Sovereign Investment Authority (NSIA) is 59th with current assets put at $2,560,370,000

The SWFI noted that the key difference from 2000 to 2012 versus 2012 to 2021 was investment returns in the current period, especially in markets fueled by central bank quantitative easing (QE) action.

Global sovereign wealth funds (SWFs) are a major source of institutional investor capital that have the potential to invest for the long term.

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