Abu Dhabi’s sovereign funds ranked wealthiest in world with $1.7 trillion
The assets of Gulf sovereign funds have risen considerably in recent years, in large part due to the UAE and Saudi Arabia.
Abu Dhabi has the most capital in its sovereign wealth funds of any city in the world, according to a ranking released on Tuesday, with Riyadh also making the top six.
Global SWF, a platform for data on sovereign funds, said the United Arab Emirates' capital city has $1.674 trillion under management in its funds as of this month. The platform included Mubadala, ADQ, the Abu Dhabi Investment Authority (ADIA), Lunate, Tawazun, the Emirates Investment Authority and the Abu Dhabi Fund for Investment in its calculations.
The following cities rounded out the top six: Oslo with $1.668 trillion, Beijing with $1.342 trillion, Singapore with $1.135 trillion, Riyadh's Public Investment Fund with $1.119 trillion and Hong Kong with $1.106 trillion.
The six cities collectively account for more than $8 trillion out of the $12.5 trillion held by sovereign wealth funds globally, according to Global SWF.
