Sovereign wealth funds made 237 direct investments, valued at $80.9 billion, last year, the Financial Times reported, citing data collected by the Sovereign Investment Lab at Bocconi University in Milan.
A significant part of the investing was by funds in developing countries into developed markets, the FT said, citing the report.
Much of the money was put into companies with strong involvement in emerging economies -- LVMH Moet Hennessy Louis Vuitton SA (MC) in China and Iberdrola SA (IBE) in Latin America, for example -- while little was invested in European manufacturing, suggesting a lack of confidence in the continent’s economy, the newspaper said.
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