Announcement

Stock and bond market declines during the last year have reduced the total worth of the world's sovereign wealth and public pension funds for the first time ever - by $2.2 trillion, according to an annual survey of the industry. According to Global SWF's study on state-owned investment vehicles, the value of assets managed by sovereign wealth funds declined to $10.6 trillion from $11.5 trillion, while that of public pension funds fell to $20.8 trillion from $22.1 trillion. According to Global SWF's Diego López, the key reason was the "simultaneous and massive" 10 percent-plus corrections in major bond and stock markets, a combination that had not occurred in 50 years. It happened as Russia's invasion of Ukraine drove commodity prices higher and inflation rates to 40-year highs...