Growing BRICS trade could attract more sovereign wealth fund capital: SWFI Board Chair

Source: ANI (Asian News International) | Original Published At: 2026-09-13 07:41:26 UTC

Key Points

• SWFI Board Chair Lakshmi Narayanan Ramanujan said growing trade among BRICS countries could attract more sovereign wealth fund capital into member economies.
• Speaking on the sidelines of the BRICS Summit 2026, he noted that sovereign wealth funds typically seek investment opportunities that generate strong returns, while sovereign development funds focus on domestic development.
• He said sovereign wealth fund portfolios are currently concentrated in the United States and that BRICS economies lack the capacity to absorb such capital, but BRICS trade agreements could help open that door.
• He emphasized that BRICS multilateral cooperation agreements would need bilateral or trilateral trade arrangements to make cooperation actionable and increase business.
• He said the BRICS push for local-currency trade is not aimed at replacing the US dollar but at enabling member countries to settle trade in their own currencies, while trade imbalances remain a challenge.