Sovereign wealth funds to reach $10tr by 2015

"Total funds under sovereign wealth fund management will be $10 to $12 trillion by 2015," said Steve Ellis, worldwide managing director of Bain & Company. Today the six GCC states are home to $2 trillion of the present global total $3 trillion of money in sovereign wealth funds. "This is a tectonic shift in sources of capital for the world's markets," said Ellis, talking to Gulf News explaining why Bain & Company, one of the world's leading management consultancies, formally opened its Middle East office in Dubai yesterday.