A new report by Merrill Lynch (MER) Global Research says that assets under management in Sovereign Wealth Funds (SWFs) could grow more than four-fold by 2011, surging from US$1.9 trillion to US$7.9 trillion. The research report, titled “The overflowing bathtub, the running tap and SWFs,” states that a massive build up of reserves at central banks is fueling this rapid growth, led by China, Russia and the Middle East.