Despite a more challenging global economic landscape, the world's largest sovereign wealth funds are still growing and continue to hold the largest amount of investable assets under management among top plan sponsors, data compiled from S&P Global Market Intelligence's Money Market Directories shows.
Among the 100 largest plan sponsors, sovereign wealth funds had the largest aggregate investable AUM at $11.108 trillion. It also had the highest increase from a year ago at 11.57%.
China-based SAFE Investment Company is still the world's largest plan sponsor with investable AUM of $2.397 trillion. The China-based sovereign wealth fund crossed the $2-trillion mark this year following a 21.3% increase year over year. Another Chinese sovereign wealth fund, China Investment Corp., took the No. 4 spot with investable AUM at $869.64 billion, up 17% compared to a year ago.
Other sovereign wealth funds part of the biggest five plan sponsors are Government Pension Investment Fund, Norway Government Pension Fund Global, and Abu Dhabi Investment Authority.
Government plan sponsors also have grown their investable AUM, rising 3.62% to $7.891 trillion in aggregate. Nearly half of the 100 largest plan sponsors are government-related entities.
Geographically, the U.S. is home to greatest number of Top 100 plans sponsors, with 38 entities collectively holding investable AUM of $5.301 trillion. Canada and Japan follows with eight and six, respectively. China, though home to only 4 plan sponsors has the second highest aggregate investable AUM at $4.017 trillion.
UAE-based Mubadala Investment Company saw the highest increase in investable AUM year-on-year at 77.26%, placing it at No. 27 with assets of $226.52 billion. This increase is primarily due to the addition of Abu Dhabi Investment Council under its structure, a move ordered by the government of Abu Dhabi last year in an effort to consolidate wealth funds in the emirate.
Another notable entity in the ranking is Israel-based Amitim Pension Fund Management Company, which jumped 35 spots to No. 61 from No. 96, assuming same set of companies are ranked with their year ago investable AUM. Reforms on Israel’s financial system and pension contributions have caused a surge of funds in Israeli institutional investors.