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Investment Objectives of Sovereign Wealth Funds; A Shifting Paradigm

Author

Listed:
  • Iva Petrova
  • Jukka Pihlman
  • Peter J Kunzel
  • Yinqiu Lu

Abstract

While SWF investment objectives to some extent reflect inherent characteristics, notable differences in strategic asset allocation (SAA) exist even amongst SWFs of similar types. Even so, this paper shows that the global crisis may have changed SWF’s asset allocations in ways that may not be ideal or justified in all cases and that a review of investment objectives may be warranted. It also argues for regular macro-risk assessments for the sovereign, the continued importance of SWFs as a stabilizer in international capital markets, as well as the active role they could play in international regulatory reform.

Suggested Citation

  • Iva Petrova & Jukka Pihlman & Peter J Kunzel & Yinqiu Lu, 2011. "Investment Objectives of Sovereign Wealth Funds; A Shifting Paradigm," IMF Working Papers 11/19, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:11/19
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=24598
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    References listed on IDEAS

    as
    1. Christian B. Mulder & Amadou N Sy & Yinqiu Lu & Udaibir S Das, 2009. "Setting Up a Sovereign Wealth Fund; Some Policy and Operational Considerations," IMF Working Papers 09/179, International Monetary Fund.
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    Cited by:

    1. repec:sos:sosjrn:170404 is not listed on IDEAS
    2. Ciarlone, Alessio & Miceli, Valeria, 2016. "Escaping financial crises? Macro evidence from sovereign wealth funds' investment behaviour," Emerging Markets Review, Elsevier, vol. 27(C), pages 169-196.
    3. repec:eee:jebusi:v:91:y:2017:i:c:p:24-40 is not listed on IDEAS
    4. repec:rss:jnljfe:v2i4p2 is not listed on IDEAS
    5. repec:rss:jnljef:v3i1p1 is not listed on IDEAS
    6. repec:eee:glofin:v:34:y:2017:i:c:p:43-53 is not listed on IDEAS

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