SWFs see mixed performance in challenging climate


Liew: Given the nature of SWFs as typically not alpha seekers, their performance would be best rated on the stability of their financial investments.

SOVEREIGN wealth funds (SWFs) had a mixed financial year in 2023 (FY23) which saw the investment climate strained by geopolitical tensions, elevated inflation and higher interest rates, but also major equity market benchmarks at fresh highs.

The behemoth of the industry, Norges Bank Investment Management (NBIM), with some US$1.37 trillion in assets under management (AUM) and with some 70% of that in equity, posted US$213bil profit for the year driven by its investments in big tech companies which gained on the artificial intelligence (AI) thematic.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business News

Globetronics shares rally in early trade after Taiwan deal
Nissan to cut or transfer about 1,000 jobs in Thailand, sources say
Singapore Q3 GDP up 5.4% y-o-y, higher than advance estimate; 2024 forecast upgraded
Ringgit extends uptrend against greenback in early trade
FBM KLCI rebounds as Wall Street returns to a rally
Trading ideas: PetDag, Atlan, Thong Guan, Maxim, Globetronics, 7-Eleven, Petron, DRB-Hicom, Dayang, MSM, Aeon, SunCon, UEM Sunrise
Oil rises 2% as Russia-Ukraine war escalates
Wall St ends higher as Dow, S&P hit one-week tops
7-Eleven’s quarterly revenue climbs
SimeProp seeks quality assets for recurring income

Others Also Read