The effect of soveriegn wealth funds on the market

China has recently disclosed that its sovereign wealth fund, which has close to $1 trillion in assets, has invested heavily in growth stocks (apparently health care and tech ETFs), and investment grade debt during the recent months. During September of 2019, they had disclosed that were slowly buying U.S manufacturing stock. I am guessing that they recently sold manufacturing and bought growth. To put this in perspective, the entire US market was selling for $26 trillion at the bottom of the crash.

In related news about the Saudi Arabia PIF:

That’s a lot of money. I would be surprised if those funds didn’t move markets.