Sovereign Wealth Funds are state-owned investment vehicles that invest globally in different types of asset classes from financial to real assets. SWFs established from a balance of payments surpluses, official foreign currency operations, the revenues of privatizations, governmental transfer payments, fiscal surpluses and revenues resulting from exports of resources. They represent a mix of heterogeneous investors: different backgrounds, sources of wealth, objectives, different investment strategies implemented, and different structures managers who govern them. However, there is a common feature on which all authors and researchers agree: the SWFs are institutional investors, closely linked to the governments that created them. The Sovereign Wealth Fund (Swf) is inserted, meaning high-potential investors, whose popularity has grown considerably during the recent financial crisis where these economic realities have strengthened their position in terms of global wealth, international trade and capital movements. First time Andrew Rozanov used this phenomenon in 2005 and defined it as financial instrument, different from pension funds and official reserve which aims to isolate the domestic economy from excessive volatility, support the monetary authorities in the sterilization of excess liquidity, accumulate savings for future generation and use monetary for economic and social development. Then Stephen Jen, Balding, Clark Dixon and Monk, and many international organizations have tried to define SWF.

Fondi sovrani basati sulle materie prime

TAHIRZADE, SADI
2017/2018

Abstract

Sovereign Wealth Funds are state-owned investment vehicles that invest globally in different types of asset classes from financial to real assets. SWFs established from a balance of payments surpluses, official foreign currency operations, the revenues of privatizations, governmental transfer payments, fiscal surpluses and revenues resulting from exports of resources. They represent a mix of heterogeneous investors: different backgrounds, sources of wealth, objectives, different investment strategies implemented, and different structures managers who govern them. However, there is a common feature on which all authors and researchers agree: the SWFs are institutional investors, closely linked to the governments that created them. The Sovereign Wealth Fund (Swf) is inserted, meaning high-potential investors, whose popularity has grown considerably during the recent financial crisis where these economic realities have strengthened their position in terms of global wealth, international trade and capital movements. First time Andrew Rozanov used this phenomenon in 2005 and defined it as financial instrument, different from pension funds and official reserve which aims to isolate the domestic economy from excessive volatility, support the monetary authorities in the sterilization of excess liquidity, accumulate savings for future generation and use monetary for economic and social development. Then Stephen Jen, Balding, Clark Dixon and Monk, and many international organizations have tried to define SWF.
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/20.500.14240/46402