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Passersby walk past an electric stock quotation board outside a brokerage in Tokyo, Japan, December 30, 2022. REUTERS/Issei Kato LONDON, Jan 1 (Reuters) – Heavy falls in stock and bond markets over the last year have cut the combined value of the world’s sovereign wealth and public pension funds for the first time ever – and to the tune of $2.2 trillion, an annual study of the sector has estimated. The report on state-owned investment vehicles by industry specialist Global SWF found that the value of assets managed by sovereign wealth funds fell to $10.6 trillion from $11.5 trillion, while those of public pension funds dropped to $20.8 trillion from $22.1 trillion. Global SWF’s Diego López said the main driver had been the "simultaneous and significant" 10%-plus corrections suffered by major bond and stock markets, a combination that had not happened in 50 years. It came as Russia’s invasion of Ukraine boosted commodity prices and drove already-rising inflation rates to 40-year highs. In response, the U.S. Federal reserve and other major central banks jacked up their interest rates causing a global market sell-off . "These are paper losses and some of the funds will not see them realized in […]
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