Sovereign wealth funds in the Gulf have been pulling money out of asset managers at the fastest rate on record as they rush to boost their economies following the collapse in the oil price.

海湾国家的主权财富基金正以史上最快速度从资产管理公司撤出资金。这些国家在油价崩盘后急于提振各自的经济。

At least $19bn was withdrawn by state institutions during the third quarter, according to data provider eVestment, denting investment managers’ profits and raising concerns about the prospect of further outflows.

数据提供商eVestment的数据显示，第三季度国家机构至少撤出了190亿美元，影响了投资经理的利润，并引发了人们对于资金撤退可能继续的担忧。

The true level of withdrawals this year is likely to be much greater as some asset managers, including BlackRock, the world’s biggest fund house, do not disclose their dealings with sovereign funds. Morgan Stanley estimates BlackRock suffered redemptions of $31bn from government institutions during the second and third quarters. BlackRock declined to comment.

今年以来真实的撤资水平很可能高得多，因为一些资产管理公司——包括全球最大基金公司贝莱德(BlackRock)——不披露其与主权财富基金的交易。摩根士丹利(Morgan Stanley)估计，贝莱德在第二和第三季度遭遇了政府机构的310亿美元赎回。贝莱德拒绝置评。

Governments in oil-rich countries have been forced to raid their wealth funds after the price of crude slumped by more than half to $43 a barrel.

油价暴跌超过一半，至每桶43美元后，产油国的政府不得不动用各自的财富基金。

Aberdeen Asset Management, Northern Trust, Franklin Resources and Old Mutual Asset Management have all said they have been hit by government funds redemptions this year.

安本资产管理(Aberdeen Asset Management)、北方信托(Northern Trust)、富兰克林资源(Franklin Resources)和耆卫资产管理公司(Old Mutual Asset Management)都承认，今年以来它们遭遇了政府基金赎回的打击。

Martin Gilbert, chief executive of Aberdeen, Europe’s third-largest listed fund house, which reported its 10th consecutive quarter of outflows last week, said: “If the oil price remains low, we will see more redemptions from sovereign wealth funds.”

欧洲第三大上市基金公司、上周报告连续第10个季度遭遇资金外流的安本的首席执行官马丁吉尔伯特(Martin Gilbert)表示：“如果油价保持低迷，我们将看到主权财富基金的更多赎回。”

Four of the five largest sovereign funds in the world are based in oil-rich countries. More than three-quarters of oil-backed vehicles outside of North America expect governments to withdraw money due to sustained low oil prices, according to research by Invesco, the US fund manager.

全球五个最大的主权财富基金有四个位于产油国。根据美国基金管理公司景顺(Invesco)的研究，由于油价持续低迷，北美以外逾四分之三以石油财富为后盾的投资工具预计相关政府将撤出资金。

The Saudi Arabian Monetary Agency, the fourth-largest sovereign wealth fund in the world with $672bn in assets, has withdrawn about $70bn from external managers this year to support its economy.

全球第四大主权财富基金、拥有6720亿美元资产的沙特阿拉伯货币局(Saudi Arabian Monetary Agency)，今年已从外部管理机构撤回约700亿美元，以支持本国经济。

If sovereign fund redemptions continue at the same pace, listed asset managers could see their earnings per share drop 4.1 per cent, according to Morgan Stanley.

据摩根士丹利表示，如果主权财富基金继续按照这样的速度赎回，上市资产管理公司的每股盈利可能下降4.1%。

Jeffrey Levi, a partner at Casey Quirk & Associates, an investment management consultancy, said: “There is big pressure on governments because of the oil price drop and they are looking to sovereign funds for cash flow.”

投资管理咨询公司Casey Quirk & Associates的合伙人杰弗里列维(Jeffrey Levi)表示：“由于油价下跌，有关国家的政府受到巨大压力，他们寄望从主权基金获得现金流。”

Most sovereign wealth funds are unwilling to discuss recent redemptions and asset managers are also being coy about their dealings with the funds due to confidentiality agreements.

多数主权财富基金不愿讨论近期的赎回，各资产管理公司也以保密协议为由，不愿透露相关业务往来。