(MENAFN) Across the GCC, public pension funds amount to USD397 billion, representing nearly a quarter of gross domestic product (GDP) and US15,000 per national.
This is according to EY's GCC Wealth and Asset Management 2015 report "Fast growth, divergent paths", which was launched at the FundForum Middle East 2015.
The size of GCC pension funds is relatively low, compared with employer-provided pension funds in the UK, where these assets are larger than GDP and funds per individual are nearly four times the GCC average.
"Public pension funds in the GCC are only just coming of age, just over a fifth is invested in local equities. Two big issues are currently driving significant rethinking in the sector," EY said.
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