(MENAFN) Middle Eastern sovereign wealth funds liquidated or cancelled investments worth about 7 percent of their total assets last year, a study has revealed.
In accordance, the study was released recently by asset manager Invesco, in a sign of pressure from unstable oil prices.
GCC countries' budgets and other oil exporters have decreased into deficit as a result of shrunken oil revenues, making governments consuming their savings.
"Outflows from Middle East funds are not surprising; given the volatility we have seen in the oil markets." head of institutional sales for the Middle East and Africa at Invesco said.
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