Presentation of Sovereign Wealth Funds 2023 Report
ICEX-Invest in Spain and IE Center for the Governance of Change invite you to the presentation of the Sovereign Wealth Funds Report 2023, which will take place at ICEX headquarters on September 28th at 12:30 pm.
This edition of the Report, which consolidates its position as a European benchmark for the industry, investigates the latest trends, examines the most important transactions and the preferred sectors. This year, investments in technology (despite the poor performance of the venture capital industry since October 2021), infrastructure (especially those linked to renewable energies) and the industrial sector stand out, in addition to record activity in biotechnology and healthcare. The 2022-2023 period marked an all-time record in the volume of assets under management in the industry, which reached US$11.4 trillion. Geographically, the United States is consolidating its position as the leader in attracting sovereign investments, in a geopolitical context of blocs that penalizes investments in China and increases the presence of third countries such as India, the United Kingdom and Saudi Arabia.
The Report takes an in-depth look at the difficult task of sovereign wealth funds to reconcile short-term performance with long-term investment horizons in the current inflationary and high interest rate environment. The year 2022 generated multi-billion dollar losses for many of these funds, which compensated for the poorer investment performance with price momentum in their underlying assets (oil, gas, minerals). The Sovereign Wealth Funds 2023 Report examines the role of SWFs in the area of sustainability and assesses the potential of SWFs in Latin America, in coordination with development agencies and banks present in the region. Finally, the report focuses on the role of funds in Spain, which this year, as last year, reached record figures and presents new developments with the arrival of Cofides' FOCO fund.
Elisa García, Executive Director Invest in Spain, ICEX
Isabela del Alcázar, Global Head of Sustainability, IE University
12:40 Presentation of the Report
Javier Capapé, Sovereign Wealth Research, Center for the Governance of Change, IE University
Xiana Margarida Méndez Bertolo, Secretary of State for Trade
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