Author: Havard Halland Publisher: ISBN: Category : Investments Languages : en Pages : 46
Book Description
Over the past 15 years, the number of government-sponsored strategic investment funds has grown rapidly in countries at all income levels. This paper identifies some of the challenges that these funds face in their endeavor to achieve economic policy objectives while also securing commercial financial returns-the so-called double bottom line. Through the review of the objectives, investment strategies, and operations of a sample of strategic investment funds, this paper outlines ways in which these challenges have been addressed. The paper suggests that properly structured and managed strategic investment funds can be effective vehicles for crowding in private investors to priority investments, thus magnifying the impact of public capital. However, their success rests on the funds' ability to balance policy and commercial objectives, source investment opportunities, and secure the right fund management capacity.
Author: Shanthi Divakaran Publisher: World Bank Publications ISBN: 1464818703 Category : Business & Economics Languages : en Pages : 337
Book Description
Strategic investment funds (SIFs) have gained prominence over the past two decades as governments and other public sponsors globally have increasingly co-opted the investment fund model to further policy objectives. Since 2000, more than 30 SIFs have been formed at the national level, typically to boost economic growth through infrastructure or small and medium enterprise investment. In the current COVID-19 pandemic environment, governments have frequently turned to sovereign investment vehicles to address the economic effects of the pandemic, echoing the emergence of new SIFs in the aftermath of the global financial crisis. However, SIFs are not devoid of challenges, and the setup and operation of such funds can be fraught with risks, particularly in contexts of weaker governance, inadequate rule of law, and limited financial market regulation. The intent of 'Strategic Investment Funds: Establishment and Operations' is to provide guidance to practitioners and policy makers considering a SIF model where little widely available, practice-based experience has been documented and disseminated. The book provides a reference for policy makers who are creating or strengthening the operations of SIFs, particularly as governments examine the value of such funds as a policy instrument in the aftermath of the COVID-19 pandemic.
Author: Han T. J. Smit Publisher: Princeton University Press ISBN: 1400829399 Category : Business & Economics Languages : en Pages : 504
Book Description
Corporate finance and corporate strategy have long been seen as different sides of the same coin. Though both focus on the same broad problem, investment decision-making, the gap between the two sides--and between theory and practice--remains embarrassingly large. This book synthesizes cutting-edge developments in corporate finance and related fields--in particular, real options and game theory--to help bridge this gap. In clear, straightforward exposition and through numerous examples and applications from various industries, Han Smit and Lenos Trigeorgis set forth an extended valuation framework for competitive strategies. The book follows a problem-solving approach that synthesizes ideas from game theory, real options, and strategy. Thinking in terms of options-games can help managers address questions such as: When is it best to invest early to preempt competitive entry, and when to wait? Should a firm compete in R&D or adopt an accommodating stance? How does one value growth options or infrastructure investments? The authors provide a wide range of valuation examples, such as acquisition strategies, R&D investment in high-tech sectors, joint research ventures, product introductions in consumer electronics, infrastructure, and oil exploration investment. Representing a major step beyond standard real options or strategy analysis, and extending the power of real options and strategic thinking in a rigorous fashion, Strategic Investment will be an indispensable guide and resource for corporate managers, MBA students, and academics alike.
Author: OECD Publisher: OECD Publishing ISBN: 9264680756 Category : Languages : en Pages : 40
Book Description
This report provides guidance on how governments can support their sovereign wealth funds in becoming climate-aligned commercial investors. The establishment of synergies between sovereign wealth funds and strategic investment funds can help scale up investments in clean-energy infrastructure.
Author: Larry E. Swedroe Publisher: Macmillan + ORM ISBN: 1429972955 Category : Business & Economics Languages : en Pages : 197
Book Description
Investment professional Larry E. Swedroe describes the crucial difference between "active" and "passive" mutual funds, and tells you how you can win the investment game through long-term investments in such indexes as the S&P 500 instead of through the active buying and selling of stocks. A revised and updated edition of an investment classic, The Only Guide to a Winning Investment Strategy You'll Ever Need remains clear, understandable, and effective. This edition contains a new chapter comparing index funds, ETFs, and passive asset class funds, an expanded section on portfolio care and maintenance, the addition of Swedroe's 15 Rules of Prudent Investing, and much more. In clear language, Swedroe shows how the newer index mutual funds out-earn, out-perform, and out-compound the older funds, and how to select a balance "passive" portfolio for the long hail that will repay you many times over. This indispensable book also provides you with valuable information about: - The efficiency of markets today - The five factors that determine expected returns of a balanced equity and fixed income portfolio - Important facts about volatility, return, and risk - Six steps to building a diversified portfolio using Modern Portfolio Theory - Implementing the winning strategy - and more.
Author: Martha Amram Publisher: Oxford University Press on Demand ISBN: 9780875848457 Category : Business & Economics Languages : en Pages : 246
Book Description
Using real-world examples and clear case studies, the authors provide investors and managers with an innovative method for assessing a company's non-financial assets, allowing them to assess opportunities whose financial rewards are less than certain.
Author: European Investment Bank Publisher: European Investment Bank ISBN: 9286148151 Category : Business & Economics Languages : en Pages : 81
Book Description
The inside story of the European Fund for Strategic Investments from 2015 to 2020 told through interviews with the Managing Director, Deputy Managing Director, members of the Investment Committee and final beneficiaries across Europe. The architects of this €500 billion-plus programme, the head of the EU bank and the president of the European Commission, describe the genesis of this financial pillar of the Investment Plan for Europe. Then the people who ran one of the biggest economic stimulus programmes in history detail how they did it—and what the lessons are for policymakers responding to new crises, including the economic shock caused by the COVID-19 pandemic. The European Fund for Strategic Investments has been one of the good news stories to emerge in a decade of economic uncertainty. It has gone well beyond its highly ambitious target of €500 billion in mobilised investments. The Juncker Plan has made a strong contribution to the 14 million jobs created in the EU between 2015 and 2020. It has become a success in co-financing projects that otherwise might not have been carried through. It has also charted the path towards new ways of financing. This is not only the case in relatively conventional areas, such as infrastructure, but also in sectors like research and innovation or the contribution to climate change mitigation. This is exactly what makes EFSI so ground-breaking: responding to the needs of the market through continuous financial innovation. The principle of the European Fund for Strategic Investments is here to stay. It has paved the way for its successor, the InvestEU programme, which is to be deployed under the 2021-2027 multiannual financial framework. This publication details why the programme was such a success.
Author: OECD Publisher: ISBN: 9789264447202 Category : Languages : en Pages : 40
Book Description
Sovereign wealth funds manage a large share of the world's invested capital. The action or inaction of these funds on climate finance is of crucial importance to the world's ability to reach the goals of the Paris Agreement, and restrain global warming to below 2 degrees Celsius. However, sovereign wealth funds have so far played a very limited role in climate finance. This report provides guidance on how governments can support their sovereign wealth funds in becoming climate-aligned commercial investors. The establishment of synergies between sovereign wealth funds and strategic investment funds can help scale up investments in clean-energy infrastructure.
Author: Havard Halland
Author: Douglas R. Casey
Author: Shanthi Divakaran
Author: Han T. J. Smit
Author: OECD
Author: 
Author: Larry E. Swedroe
Author: Martha Amram
Author: European Investment Bank
Author: OECD