Is CalPERS a Sovereign Wealth Fund?
AbstractSovereign Wealth Funds (SWFs) are the subject of intense debate. While these funds are hard to define in precise terms, all agree they are government-sponsored pools of financial assets. With roughly $3 trillion under management today and forecasts that suggest this number could approach $10 trillion in under a decade, many wonder what role these public investment funds will play in private markets. Due to SWFsí government sponsorship, some fear that they will be used illegitimately to advance political, instead of commercial, agendas. This geopolitical concern is compounded by a general lack of transparency and a perception among Western analysts of weak accountability and poor governance practices...
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Bibliographic InfoPaper provided by Center for Retirement Research in its series Issues in Brief with number ib2008-8-21.
Length: 8 pages
Date of creation: Dec 2008
Date of revision: Dec 2008
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-12-14 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Juan Yermo, 2008. "Governance and Investment of Public Pension Reserve Funds in Selected OECD Countries," OECD Working Papers on Insurance and Private Pensions 15, OECD Publishing.
- Edwin M. Truman, 2008.
"A Blueprint for Sovereign Wealth Fund Best Practices,"
PB08-3, Peterson Institute for International Economics.
- Edwin M. Truman, 2009. "A Blueprint for Sovereign Wealth Fund Best Practices," Revue d'Économie Financière, Programme National Persée, vol. 9(1), pages 429-451.
- Olivia S. Mitchell & John Piggott & Cagri Kumru, 2008. "Managing Public Investment Funds: Best Practices and New Challenges," NBER Working Papers 14078, National Bureau of Economic Research, Inc.
- repec:crr:issbrf:ib2007-7-12 is not listed on IDEAS
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