Saudi Arabia’s plan to create a $2 trillion sovereign wealth fund has set an ambitious new standard for state-run investment vehicles. These funds are an increasingly common sight around the world, but particularly in the Middle East, where oil-rich governments like to squirrel away money when oil prices are high in preparation for leaner times. The Sovereign Wealth Fund Institute (SWF Institute) lists 79 funds in its rankings, with 20 of them in the Middle East and North Africa.
Now that the price of a barrel of oil has slumped, these stores of wealth are coming into play, helping governments to deal with their budget deficits so they can still provide all the services their citizens have come to expect. But which ones have the most money?
Here is the top 10 in reverse order, based on figures from the funds (where available) and estimates by the SWF Institute and Moody’s.
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