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
Subjects: Business, Political Science, Finance
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