Sovereign Wealth Funds and Long-term Investing PDF Download

Author: Patrick Bolton
Publisher: Columbia University Press
ISBN: 0231158637
Category : Internationale finanser
Languages : en
Pages : 254

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Book Description
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.

Author: Mr.Udaibir S. Das
Publisher: International Monetary Fund
ISBN: 1589069277
Category : Business & Economics
Languages : en
Pages : 330

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Book Description
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.

Author: Gordon L. Clark
Publisher: Princeton University Press
ISBN: 0691142297
Category : Business & Economics
Languages : en
Pages : 236

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Book Description
The worldwide rise of sovereign wealth funds is emblematic of the ongoing transformation of nation-state economic prospects. Sovereign Wealth Funds maps the global footprints of these financial institutions, examining their governance and investment management, and issues of domestic and international legitimacy. Through a variety of case studies--from the China Investment Corporation to the funds of several Gulf states--the authors show that the forces propelling the adoption and development of sovereign wealth funds vary by country. The authors also show that many of these investment institutions have identifiable commonalities of form and function that match the core institutions of Western financial markets. The authors suggest that the international legitimacy of sovereign wealth funds is based on the degree to which their design and governance match Western expectations about investment management. Undercutting commonplace assumptions about the emerging world of the twenty-first century, the authors demonstrate that even small countries with large and globally oriented sovereign wealth funds are likely to play a significant role in international relations. Sovereign Wealth Funds considers how such financial organizations have altered not only the face of finance, but also the international geopolitical landscape.

Author: Alberto Quadrio Curzio
Publisher: Harriman House Limited
ISBN: 1906659966
Category : Business & Economics
Languages : en
Pages : 273

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Book Description
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.

Author: Victoria Ivashina
Publisher: Princeton University Press
ISBN: 0691217084
Category : Business & Economics
Languages : en
Pages : 264

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Book Description
How to overcome barriers to the long-term investments that are essential for solving the world’s biggest problems There has never been a greater need for long-term investments to tackle the world’s most difficult problems, such as climate change, human health, and decaying infrastructure. And it is increasingly unlikely that the public sector will be willing or able to fill this gap. If these critical needs are to be met, the major pools of long-term, patient capital—including pensions, sovereign wealth funds, university endowments, and wealthy individuals and families—will have to play a large role. In this accessible and authoritative account of long-term capital investment, two leading experts on the subject, Victoria Ivashina and Josh Lerner, highlight the significant hurdles facing long-term investors and propose concrete ways to overcome these difficulties.

Author: Jagdeep Singh Bachher
Publisher: Springer
ISBN: 1137508574
Category : Business & Economics
Languages : en
Pages : 147

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Book Description
Who holds the power in financial markets? For many, the answer would probably be the large investment banks, big asset managers, and hedge funds. These are the organizations that are in the media's spotlight and whose leaders and employees command outsized salaries and bonuses. They are the supposed leading edge of global finance and their power seems almost absolute, even as questions abound about their social and economic utility. But more and more asset owners are confronting the status quo, the power to exact high fees and the focus on the short term. The New Frontier Investors chronicles the rise of this new group of long horizon asset owners that includes some of the world's largest pension funds, sovereign wealth funds, and endowments. These asset owners are driving the business of asset management to a new frontier by retaking responsibility of the end-to-end management of their investment portfolios and by re-conceptualizing investment decision-making. The lessons illustrated in The New Frontier Investors fly in the face of conventional wisdom, which has it that these asset owners are at a disadvantage to the private sector fund managers and other service providers. These asset owners are supposedly not able to attract talent nor do they have the organizational capabilities to compete. That many are located far from the markets in which they invest only exacerbates the problem. But this is incorrect. This expanding group of asset owners is learning how to make the most of their scale and long time horizons, finding new ways to attract talent, to collaborate, and to build greater alignment with the users of capital. They are not at a disadvantage. They are at an advantage. The New Frontier Investors is essential reading for anyone wanting to see a change in global financial markets and the professionalization of asset owners worldwide, from public pension funds and sovereign wealth funds to foundations and endowments. It is thus required reading for the senior executives and employees working in the field of beneficiary institutional investment, as well as government officials and others that have a stake in the design and governance of beneficiary financial institutions and long-term capital.

Author: Ashby Monk
Publisher: Stanford University Press
ISBN: 1503602753
Category : Business & Economics
Languages : en
Pages : 179

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Book Description
Since the 2008 financial crisis, beneficiary organizations—like pension funds, sovereign wealth funds, endowments, and foundations—have been seeking ways to mitigate the risk of their investments and make better financial decisions. For them, Reframing Finance offers a path forward. This book argues that institutional investors would better serve their long-term goals by putting money into large-scale, future-facing projects such as infrastructure, green energy, innovation in agriculture, and real estate development. At the same time, redirecting long-term investments would close significant financial gaps that government cannot. Drawing on key contributions in economic sociology, social network theory, and economics, the book conceptualizes a collaborative model of investment that is already becoming increasingly common: Large investors contribute more directly to private market assets, while financial intermediaries seek to foster co-investment partnerships, better aligning incentives for all. A combination of rich case studies and rigorous theory enables asset owners to move toward more efficient, private-market investing, while also laying groundwork for research at the frontier of finance.

Author: Ander, Jan
Publisher: Charles University in Prague, Karolinum Press
ISBN: 8024624206
Category : Business & Economics
Languages : en
Pages : 132

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Book Description
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

Author: Adnan Hassan
Publisher: Euromoney Publications
ISBN:
Category : Business & Economics
Languages : en
Pages : 212

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Book Description
This much-needed practical guide covers everything you need to further your understanding of sovereign wealth funds (SWFs) - the state-owned investment funds.

Author: Douglas J. Cumming
Publisher: Oxford University Press
ISBN: 0191070823
Category : Business & Economics
Languages : en
Pages : 568

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Book Description
Sovereign Wealth Funds (SWFs) represent both an increasingly important - and potentially dominant - category of alternative investor, and a novel form for governments to project their interests both home and abroad. As such, they represent both economic actors and embody power vested in the financial and diplomatic resources they can leverage. Although at times they have acted in concert with other alternative investors, their intergenerational savings function should, in theory at least, promote more long-termist thinking. However, they may be impelled in towards greater short termism, in response to popular pressures, demands from predatory elites and/or unforeseen external shocks. Of all the categories of alternative investment, SWFs perhaps embody the most contradictory pressures, making for diverse and complex outcomes. The aim of this volume is to consolidate the present state of the art, and advance the field through new applied, conceptual and theoretical insights. The volume is ordered into chapters that explore thematic issues and country studies, incorporating novel insights in on the most recent developments in the SWF ecosystem. This handbook is organized into four sections and 23 chapters. The four sections are: Governance of SWFs, Political and Legal Aspects of SWFs, Investment Choices and Structures of SWFs, Country and Regional Analyses of SWFs.