Preqin: SWF assets exceed $5 trillion

Aggregate assets managed in sovereign wealth funds topped $5 trillion for the first time, according to a report from Preqin released Friday.

Based on data from 72 sovereign wealth funds, assets totaled an estimated $5.38 trillion as of Oct. 31, a rise of 16.8% from the same date in 2012 and up 76.4% from October 2008, when Preqin first started tracking this part of the investment industry.

According to Preqin's November Hedge Fund Spotlight report, the $760 billion increase was the largest one-year gain in the five years of the study.

The report said 31% of the sovereign wealth funds in Preqin's universe currently invest in hedge funds and 3% said they are considering doing so, while 54% have no hedge fund investments. No information was available on the remaining 12% of the universe, according to the report.