Sovereign wealth funds turn to internal fund management -Invesco

miércoles 10 de junio de 2015 11:05 GYT
 

* SWFs rely more on in-house fund managers to cut costs

* Funds hope shift will also boost performance

* Sovereigns want to be seen as investors with deep expertise

By David French

DUBAI, June 10 (Reuters) - Sovereign wealth funds are relying more on in-house expertise to manage their funds in a drive to bring down costs and improve performance in the low-yield environment, according to a report by Invesco Asset Management released on Wednesday.

Although falling oil revenues have dampened inflows into sovereign wealth funds (SWFs) in the Middle East and elsewhere, the sector is still a huge pool of capital.

So sovereign funds' increasing reliance on their own fund teams is significant for investment banks and asset managers, who have courted SWFs in recent years as other areas of finance suffered in the aftermath of the global financial crisis.

For its Global Asset Management Study, Invesco Asset Management, part of Invesco Ltd., surveyed 59 state-owned investment funds worldwide with over $7 trillion of assets under management.

The percentage of real estate assets managed by in-house teams across the 59 SWFs jumped to 42 percent in 2015 from 31 percent in 2013, the report showed. The percentage of global equities managed in-house rose to 34 percent, from 26 percent at the end of 2013.   Continuación...