Setting Up a Sovereign Wealth Fund: Some Policy and Operational Considerations

By Christian B. Mulder, Amadou N Sy, Yinqiu Lu, Udaibir S Das

August 1, 2009

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Format: Chicago

Christian B. Mulder, Amadou N Sy, Yinqiu Lu, and Udaibir S Das. Setting Up a Sovereign Wealth Fund: Some Policy and Operational Considerations, (USA: International Monetary Fund, 2009) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper offers a policy and operational "roadmap" to policymakers considering setting up an SWF. It should also be of interest to policymakers in countries where SWFs are already in place, to review their existing policies and operations. Finally, it offers an opportunity to identify areas where research in macroeconomics and finance should give further answers as to the adequacy of existing practice related to the setting up and management of SWFs, an area where practical considerations often lead theoretical research. For instance, policymakers should optimally consider both their sovereign assets and liabilities together with their macroeconomic objectives, when setting up an SWF.

Subject: Asset allocation, Asset and liability management, Central banks, Commodities, Commodity prices, International reserves, Prices

Keywords: Asset, Asset allocation, Asset class, Commodity prices, Fund, Global, International reserves, Investment, Investment horizon, Investment policy, Policy objective, Risk tolerance, Sovereign wealth fund, SWF, SWF’s policy objective, SWFS assets, WP

Publication Details

Pages:

21
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2009/179
Stock No:

WPIEA2009179
ISBN:

9781451873269
ISSN:

1018-5941

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