Sovereign Welfare Funds

Ashby Monk

SWFs are continuing to change their investment focus from foreign to domestic markets. In the face of the ongoing economic storm, Bahrain’s SWF — Mumtalakat Holding Company — has decided to continue focusing its investments in Bahrain instead of overseas. Mumtalakat had originally planned on a massive diversification overseas, but this plan has now been “slowed down”. 

This fits with the pattern seen in many other countries that sponsor SWFs. As I mentioned in a previous post, some funds are still working through the best way to manage this economic and financial crisis. One generic response appears to be an international pullback and a refocusing on struggling local economies.

SWFs are now looking more like important welfare institutions than high-flying, global investors.

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About

This website is a project of Professor Gordon L. Clark and Dr. Ashby Monk of the School of Geography and the Environment at the University of Oxford. Their research on sovereign wealth funds is funded by the Leverhulme Trust and The Rotman International Centre for Pension Management.

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