Bahraini sovereign fund Mumtalakat with estimated assets of $10.5 billion has been ranked 42nd globally, according to a report issued by Sovereign Wealth Fund (SWF) Institute.

It owns shares in 38 companies representing manufacturing, financial services, real estate, tourism, transport and information and communications technology, said a report in the Gulf Daily News (GDN), our sister publication.

Arab countries own 17 sovereign funds with $2.8 trillion assets at the end of last month.

GCC countries own 94 per cent of the total value of Arab funds ($2.6 trillion), according to SWF. - TradeArabia News Service