Sovereign Wealth Funds: Aspects of Governance Structures and Investment Management

By Abdullah Alhassan, Michael G. Papaioannou, Martin Skancke, Cheng Chih Sung

November 11, 2013

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Abdullah Alhassan, Michael G. Papaioannou, Martin Skancke, and Cheng Chih Sung. Sovereign Wealth Funds: Aspects of Governance Structures and Investment Management, (USA: International Monetary Fund, 2013) accessed September 20, 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 presents in a systematic (normative) manner the salient features of a SWF‘s governance structure, in relation to its objectives and investment management that can ensure its efficient operation and enhance its financial performance. In this context, it distinguishes among the various governing bodies and analyzes key aspects of the investment policy and setting of the risk tolerance level in order to ensure consistent risk-bearing capacity and greater accountability. Further, it discusses the important role of SWFs in macroeconomic management and the need for close coordination with other macroeconomic and financial policies as well as their role in global financial stability.

Subject: Asset allocation, Asset and liability management, Asset management, Financial institutions, Financial regulation and supervision, Legal support in revenue administration, Mutual funds, Operational risk, Revenue administration

Keywords: Asset allocation, Asset class, Asset management, Assets of the SWF, Global, Governance structure, Investment management, Legal support in revenue administration, Macroeconomic coordination, Mutual funds, Operational risk, Risk management, Sovereign wealth funds, Stabilization SWF, SWF asset, SWF assets, SWF funding, SWF manager, SWF objective, SWF owner, SWF risk, SWFS perception, WP

Publication Details

Pages:

34
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2013/231
Stock No:

WPIEA2013231
ISBN:

9781475518610
ISSN:

1018-5941

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