Abstract
Sovereign wealth funds (SWFs) have been discussed more and more frequently and internationally nowadays. However, there is yet no clear definition of an SWF. Some well-recognized aspects of SWFs are listed as follows: sovereign wealth, in contrast with private wealth, is public wealth, generally in the form of a foreign currency and typically composed of governmental earnings from specific taxes, budget distribution, incomes from natural resources, surplus of international payments or other means. An SWF is different from a traditional government pension fund. It is also different from those government organizations that simply hold reserved assets in order to keep the value of currency stable. An SWF is a brand new investment institution with distinct professional and market characteristics.
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© 2010 Yueyan Zhang and Xianhua Wei
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Zhang, Y., Wei, X. (2010). Optimal Scale and Asset Allocation for Sovereign Wealth Funds: China’s Case. In: Berkelaar, A.B., Coche, J., Nyholm, K. (eds) Central Bank Reserves and Sovereign Wealth Management. Palgrave Macmillan, London. https://doi.org/10.1057/9780230250819_11
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DOI: https://doi.org/10.1057/9780230250819_11
Publisher Name: Palgrave Macmillan, London
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