Economics of Sovereign Wealth Funds
Economics of Sovereign Wealth Funds

Author: Mr.Udaibir S. Das

Publisher: International Monetary Fund

Published: 2010-12-09

Total Pages: 330

ISBN-13: 1589069277

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The book covers a wide range of topics of relevance to policymakers in countries that have sovereign wealth funds (SWFs) and those that receive SWF investments. Renowned experts in the field have contributed chapters. The book is organized around four themes: (1) the role and macrofinancial linkages of SWFs, (2) institutional factors, (3) investment approaches and financial markets, and (4) the postcrisis outlook. The book also discusses the challenges facing sovereign wealth funds in the coming years, from an inside perspective on countries, including Canada, Chile, China, Norway, Russia, and New Zealand. Economics of Sovereign Wealth Funds will contribute to a further understanding of the nature, strategies and behavior of SWFs and the environment in which they operate, as their importance is likely to grow in the coming years.

The evolving strategies of Sovereign Wealth Funds
The evolving strategies of Sovereign Wealth Funds

Author: Nabylah Abo Dehman

Publisher: Edizioni Nuova Cultura

Published: 2017-10-02

Total Pages: 242

ISBN-13: 8868128829

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The idea behind this publication is to assess the extent to which Sovereign Wealth Funds (SWF) could fulfill a mandate that would extend beyond the pursuit and obtainment of financial returns. This means to assess indeed the potential of these investment vehicles with regards to the adoption of responsible investment practices and to the direct or indirect financing of development either domestically or in third countries. The research has been developed during my PhD in Political Science – International Cooperation curricula – that I have recently completed at Sapienza University of Rome under the supervision of prof. Roberto Pasca di Magliano. In particular, the analysis is going to investigate into the characteristics that differentiate SWF from other large investors in the adoption of responsible investment guidelines by also presenting some SWF that have already undertaken that direction. My thanks go to the Roma Sapienza Foundation – International Cooperation – and to its Scientific Committee which has decided to reward my Phd dissertation with this publication.

Investment Strategies of Sovereign Wealth Funds and Its Implementation
Investment Strategies of Sovereign Wealth Funds and Its Implementation

Author: Dominik Ouschan

Publisher:

Published: 2010

Total Pages:

ISBN-13:

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Especially during the Financial Crisis, sovereign wealth funds have attracted a lot of attention. This paper gives an overview of the investor class "sovereign wealth fund" and shows that it is not a new phenomenon. In academic research the short term market reaction of sovereign wealth fund investments, usually defined as a period of approximately 60 days around the announcement date, has been examined and a positive reaction has been found. The present article examines whether the set of sovereign wealth funds could and should be broken down into subcategories to determine results which reflect the characteristics and objectives better than the homogeneous class does. For this purpose, sovereign wealth funds are classified by their objective into four categories and an event study consisting of a data sample of 119 equity transactions is constructed to test if the short term reactions and long term effects differ for the classes. The final indicator for the deviation is defined to be the cumulative average abnormal returns over the examined time horizon. The analysis shows that the complete sample results deviate from the subsamples'. Furthermore, always at least one of the fund classes has a statistically different mean for the results of the short term and of the long term analysis indicating that sovereign wealth funds can be distinguished by their objective and a classification for further research is worth considering.

Sovereign Wealth Funds
Sovereign Wealth Funds

Author: Alberto Quadrio Curzio

Publisher: Harriman House Limited

Published: 2010-06-15

Total Pages: 273

ISBN-13: 1906659966

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In this comprehensive look at Sovereign Wealth Funds (SWFs)--state investment vehicles based on balance of payment surpluses--the authors explain how SWFs impact the world and the balance of economic power.

Sovereign wealth funds in theory and practice
Sovereign wealth funds in theory and practice

Author: Jan Ander

Publisher: Charles University in Prague, Karolinum Press

Published: 2014-08-01

Total Pages: 131

ISBN-13: 8024624206

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Suverénní fondy (Sovereign Wealth Funds, SWF) se v posledních letech stávají významnou součástí globálního finančního systému. Tyto instituce spravovaly ke konci roku 2013 více než 6 bilionů USD. SWF jsou státem vlastněné fondy založené za různým makroekonomickým účelem. Obvykle jsou financovány cizoměnovými příjmy států, které jsou následně investovány v zahraničí. Tato monografie se zabývá globální SWF z teoretického i praktického pohledu. Dále je zde diskutována teoretická možnost založení SWF v České republice. Autoři však dospívají k závěru, že po vzniku SWF není v naší zemi dostatečná poptávka ani ze strany politiků, ani ze strany voličů. Kniha je psána srozumitelným jazykem, a tudíž vhodná pro odbornou i širší veřejnost

Sovereign Wealth Funds and Long-term Investing
Sovereign Wealth Funds and Long-term Investing

Author: Patrick Bolton

Publisher: Columbia University Press

Published: 2012

Total Pages: 254

ISBN-13: 0231158637

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Sovereign wealth funds (SWFs) are state-owned investment funds with combined asset holdings that are fast approaching four trillion dollars. Recently emerging as a major force in global financial markets, SWFs have other distinctive features besides their state-owned status: they are mainly located in developing countries and are intimately tied to energy and commodities exports, and they carry virtually no liabilities and have little redemption risk, which allows them to take a longer-term investment outlook than most other institutional investors. Edited by a Nobel laureate, a respected academic at the Columbia Business School, and a longtime international banker and asset manager, this volume examines the specificities of SWFs in greater detail and discusses the implications of their growing presence for the world economy. Based on essays delivered in 2011 at a major conference on SWFs held at Columbia University, this volume discusses the objectives and performance of SWFs, as well as their benchmarks and governance. What are the opportunities for SWFs as long-term investments? How do they fulfill their socially responsible mission? And what role can SWFs play in fostering sustainable development and greater global financial stability? These are some of the crucial questions addressed in this one-of-a-kind volume.

Sovereign Wealth Funds
Sovereign Wealth Funds

Author: Christopher Balding

Publisher: Oxford University Press, USA

Published: 2012

Total Pages: 232

ISBN-13: 0199752117

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Sovereign wealth funds are a growing and dynamic force in international finance. This is the first book to compile a history of sovereign wealth funds, recounting the Abu Dhabi Investment Authority's involvement with the scandal-plagued BCCI bank and Chinese arms exports to Iran. In a straightforward and accessible style, the author examines the complex and amazing growth of an unknown group of investors controlling trillions of dollars worldwide.

The investment strategies of sovereign wealth funds
The investment strategies of sovereign wealth funds

Author: Shai Bernstein

Publisher:

Published: 2009

Total Pages: 52

ISBN-13:

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This paper examines the direct private equity investment strategies across sovereign wealth funds and their relationship to the funds' organizational structures. SWFs seem to engage in a form of trend chasing, since they are more likely to invest at home when domestic equity prices are higher, and invest abroad when foreign prices are higher. Funds see the industry P/E ratios of their home investments drop in the year after the investment, while they have a positive change in the year after their investments abroad. SWFs where politicians are involved have a much greater likelihood of investing at home than those where external managers are involved. At the same time, SWFs with external managers tend to invest in lower P/E industries, which see an increase in the P/E ratios in the year after the investment. By way of contrast, funds with politicians involved invest in higher P/E industries, which have a negative valuation change in the year after the investment.