Gulf Sovereign Funds Seen Shedding $300 Billion in Market Mayhem
- Top regional wealth funds hit by oil slump, plunging stocks
- Funds from Abu Dhabi, Qatar, Kuwait are huge global investors
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The Gulf region’s rainy day funds are bracing for the deluge.
On top of the collapse of oil prices and meltdown in global markets, Gulf sovereign wealth funds are channeling some of their billions back to counter the recession triggered by the coronavirus pandemic. The decline in assets could exceed $300 billion this year, according to the Institute of International Finance, the industry’s global association.