Seven sovereign wealth funds (SWFs) from the six-nation GCC bloc have been listed in the world’s top 15, with combined estimated assets under management (AuM) of $3.69 trillion, according to Global SWF.

Abu Dhabi Investment Authority (ADIA) from the UAE tops among the GCC SWFs but is fourth in the global list. The fund has an estimated AuM of $943 billion, according to a Global SWF update in October 2023.

Three other UAE funds have found a place on the list. Investment Corporation of Dubai, the principal investment arm of the Dubai Government, is placed ninth on the list with an AuM of $320 billion.

Mubadala Investment Company and ADQ are listed 11th and 12th with AuMs of $276 billion and $199 billion, respectively.

Globally, Kuwait Investment Authority takes the fifth spot on the list with an AuM of $801 billion, followed by Saudi Arabia’s Public Investment Fund at seventh place with an AuM of $700 billion.

Qatar Investment Authority ranks eighth with an AuM of $450 billion.

Mubadala Investment Company and ADQ are placed 11th and 12th with AuMs of $276 billion and $199 billion, respectively.

Norges Bank Investment Management, the asset management unit of the Norwegian Central Bank, tops the list with an AuM of $1.41 trillion.

Global SWF states that the AuM is based on the latest period in US dollar terms if available or estimation otherwise.

(Editing by Brinda Darasha; brinda.darasha@lseg.com)