Sovereign Wealth Funds: Aspects of Governance Structures and Investment Management

Abdullah Alhassan, Michael Papaioannou, Martin Skancke and Cheng Chih Sung

No 2013/231, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: WP; SWF assets; governance structure; stabilization SWF; SWF manager; SWF owner; sovereign wealth funds; investment management; risk management; macroeconomic coordination; SWF asset; asset class; SWF objective; assets of the SWF; SWF risk; SWF funding; SWFS perception; Asset allocation; Legal support in revenue administration; Asset management; Operational risk; Mutual funds; Global (search for similar items in EconPapers)
Pages: 34
Date: 2013-11-11
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Citations: View citations in EconPapers (23)

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