Abstract
The aim of this chapter is to analyze certain fundamental characteristics of sovereign wealth funds (SWFs) to contribute to a better understanding of these investment vehicles. SWFs have in recent years become increasingly important, both in numerical terms and in terms of assets under management. As the importance of SWFs in the global financial system has increased academic research has investigated the specific features and implications of SWFs for financial markets, but on the other hand debate has focused on regulatory issues relating to the rise of SWFs.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Avendaño, R., and J. Santiso (2009), ‘Are Sovereign Wealth Funds’ Investments politically biased? A comparison with mutual funds’, Working paper, OECD Development Centre, 283, pp 1–50.
Balding, C. (2008), ‘A Portfolio Analysis of Sovereign Wealth Funds’, Working paper, University of California, pp 1–64.
Barbary, V., and E. Chin (2009), ‘Testing Time: Sovereign Wealth Funds in the Middle East & North Africa and the Global Financial Crisis’, Monitor Report, pp 1–132
Bernstein, S., J., Lerner and A. Schoar (2009), ‘The investment strategies of Sovereign Wealth Funds’, Working Paper 14861, pp 1–53, National Bureau of Economic Research, Cambridge, Massachusetts.
Bottiglia, R., and A. Paltrinieri (2010), ‘Financial Crisis and Ownership of Global Banks’, in Bottiglia, R., E., Gualandri and G.N. Mazzocco (eds), Consolidation in the European Financial Industry, Palgrave McMillan, 2010, pp 91–112.
Chhaochharia, V., and L.A. Laeven (2010), ‘The Investment Allocation of Sovereign Wealth Funds’, Working Paper, pp 1–44.
Fernandez, D.G., and B. Eschweiler (2008), ‘Sovereign Wealth Funds: A Bottom-up Primer’, JP Morgan Research, pp 1–100.
Kotter, J., and U. Lel (2008), ‘Friends or Foes? The Stock Price Impact of Sovereign Wealth Fund Investments and the Price of Keeping Secrets’, International Finance Discussion Papers, pp 1–60.
Kunzel, P., Y., Lu, I., Petrova and J. Pihlman (2011), ‘Investment Objectives of Sovereign Wealth Funds-A Shifting Paradigm’, International Monetary Fund, IMF Working Paper, WP/11/19: 1–17.
Mercer (2008), ‘Best Practice Asset Allocation and Risk Management for Sovereign Wealth Funds’, pp 1–14.
Monitor Group and Fondazione Eni Enrico Mattei (2009), ‘Back on Course: Sovereign Wealth Fund Activity in 2009’, SWF Annual Report, pp 1–117.
Monitor Group and Fondazione Eni Enrico Mattei (2008), ‘Weathering the Storm: Sovereign Wealth Funds in the Global Economic Crisis of 2008’, SWF Annual Report, pp 1–96.
Moshirian, F. (2008), ‘Sovereign Wealth Funds and Subprime Credit Problems’, Working Paper, pp 1–29
Solnik, B. (1974), ‘An equilibrium model for the international capital market’, Journal of Economic Theory, 8(4): 500–524.
Ziemba, R. (2008), ‘So, what are Sovereign Wealth Funds Targeting?: Assessing Benchmarks’, RGE Ecomonitor, Analyst Blog, available at http://www.economon-itor.com/analysts.
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Copyright information
© 2013 Andrea Paltrinieri and Flavio Pichler
About this chapter
Cite this chapter
Paltrinieri, A., Pichler, F. (2013). Asset Management Issues in Sovereign Wealth Funds: An Empirical Analysis. In: Falzon, J. (eds) Bank Performance, Risk and Securitization. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9781137332097_10
Download citation
DOI: https://doi.org/10.1057/9781137332097_10
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-46156-1
Online ISBN: 978-1-137-33209-7
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)