Sovereign funds turn to India amid global crises
May 08 2011 , Mumbai
Six of the top 10 sovereign wealth funds, each of which manages billions of dollars in investments, are now registered with the Securities & Exchange Board of India (Sebi). Five have entered India since 2008.
Best Invest Corporation, an entity of the sovereign fund, China Investment Corporation, was registered with Sebi in 2010. The fund has assets worth $322.4 billion, according the website sovereignwealthfundsnews.com. Another to have registered with Sebi in 2010 is Oman’s State General Reserve Fund with assets worth $8.2 billion.
In 2008 three sovereign funds had entered India: China SWF National Security Fund (assets worth $130 billion), Ireland’s National Pensions Reserve Fund ($32 billion) and Brunei Investment Agency ($30 billion). It was also the year of cheap stocks in India.
Twelve sovereign funds, including some of the biggest names in the business such as Abu Dhabi Investment Authority, Norges Bank (Norway), China Investment Corporation and Government of Singapore Investment