Credit crunch bites SWFs
LONDON - The global economic downturn is hampering the growth of sovereign wealth fund (SWF) assets, according to a new report by private-sector industry body International Financial Services London (IFSL).
In its March 2 report Sovereign Wealth Funds 2009, IFSL revealed a revised forecast for SWF growth, predicting assets under management will hit $8 trillion by 2015. This is a 20% drop from the body's previous estimate of $10 trillion by the same date (FX Week, October 20, 2008).
Slowed growth
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