Assets under management at the world’s sovereign wealth funds are now nearly US$4trn, according to new research. The latest tally, released by Preqin, is up by 11% over 2010, which itself grew 11% over the year before.

Recent growth has come thanks to rising commodity prices and despite some significant withdrawals by host governments. Russia, for example, bolstered its fiscal position by tapping its sovereign fund for around US$35bn over the past 12 months. Despite the promise of an influx of petrodollars, the outlook for a host of funds in the Middle East and North Africa is cloudy, as the stewardship of funds faces potential changes in states experiencing unrest like Libya, Bahrain and Algeria.