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UAE’s 2012 SWF assets hit USD451b

14 Jan 2013

(MENAFN) The Institute for International Finance (IIF) stated that at the end of 2012, the assets of the UAE’s sovereign wealth funds (SWFs) hit nearly USD451 billion, reported Emirates 24/7.

The Washington-based IIF attributed the on-year increase of around USD25 billion to higher oil prices and a growth in the country’s oil production.

It added that revenues from oil exports also hit a record high of more than USD124 billion at the end of the year.

The institute noted that the UAE managed to keep its position as the holder of the largest SWF assets in the Middle East.

It is worth noting that the bulk of the UAE SWF assets are controlled by the Abu Dhabi Investment Authority (ADIA), which is one of the world’s largest SWFs and the largest government fund in the region.

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