Sovereign wealth funds eclipse $5 trillion

Sovereign wealth funds increased more than $750 billion in the past year, eclipsing $5.3 trillion in 2013. Preqin's 2014 Sovereign Wealth Fund Review - released Thursday - profiles 72 sovereign wealth funds, 10 more funds than the previous year's edition. The 16.5% increase in assets during 2013 is the largest since Preqin began tracking aggregate totals in 2008. Preqin attributes the steady growth rate since 2008 to not only the growth of existing funds, but also to a large number of new funds formed over the past few years.