Sovereign Fund of Egypt enters SWF global rankings at #43
Sovereign Fund of Egypt enters SWF global rankings at # 43: The Sovereign Fund of Egypt (SFE) ranks 43rd out of the world's 93 sovereign wealth funds in the Sovereign Wealth Fund Institute’s (SWFI) latest rankings. The fund currently owns assets worth almost USD 12 bn, accounting for 0.14% of the holdings of state-owned funds around the world, Al Arabiya reported. This is the first time that the fund has been included in the SWFI’s rankings, having launched last November. The SFE is expected to increase its capital to USD 63 bn (EGP 1 tn) within three years.
Norway’s sovereign fund is currently the world’s largest with USD 1.18 tn in assets, followed by the China Investment Corporation (USD 940 bn), Abu Dhabi Investment Authority (USD 579 bn), and the Kuwait Investment Authority (533 bn). Saudi’s Public Investment Fund (PIF) ranks ninth with assets of USD 360 bn.