Sovereign wealth funds (SWFs) are making more direct investments rather than investing through third-party asset managers, as per a report by Monitor, a U.K.-based consultancy, Financial Times reports. Nowadays, direct investments are being made in smaller sizes, while in 2008 direct investments were large stakes worth over $100 million.

The Abu Dhabi Investment Authority acquired convertible bonds worth $7.5 billion in Citigroup, while the China Investment Corporation invested $5.6 billion in shares of Morgan Stanley. Monitor conducted the survey on 30 sovereign wealth funds, out of which 21 made direct investments last year, up from 17 in 2008. The move comes due to losses suffered during the financial crisis.

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