Mon, Oct 24, 2016
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Opalesque Radio

"The New Economics of Sovereign Wealth Funds"
Radio Feature 51: Massimiliano Castelli in conversation with Sona Blessing
Friday, June 29, 2012

radio Massimiliano Castelli, is Head of Global Strategy in the department advising central banks and Sovereign Wealth Funds(SWFs) at UBS Global Asset Management. In this role, he analyses market trends affecting the investment behaviour of sovereign institutions and works closely with investment specialists in providing investment advice and developing tailored investment solutions for this client segment.

He is a global thought leader on macro economic, financial and political trends in sovereign wealth management and has authored The New Economics of Sovereign Wealth Funds (Wiley, April 2012), together with Fabio Scacciavillani.

According to the authors, the book focuses "on the big picture which has been lost in the noise of diatribes and the narrow visions of most analyses. Few seem to have realised that the rise of the SWF is driven by a tectonic movement: the shift of economic centre of gravity from mature economies to large emerging markets (especially in Asia), and to commodity-exporting countries, some of which (e.g. Australia, Canada, Norway) have been wealthy nations for a long time."1...

In this radio feature Massimiliano elaborates on why "The increasing prominence of SWFs is therefore a symptom of a rebalancing in economic weight and represents one of the channels through which the secular shift to a multipolar global economy is taking place."2...
Source: 1&2 The New Economics of Sovereign Wealth Funds (Wiley, April 2012)

 Download this feature as MP3 (18.59 MB)

Listen to the complete feature
"The New Economics of Sovereign Wealth Funds"

Duration: 20:18 


Or listen to selected sub-features
  • Q1 - What is the geo-political, economic and financial significance associated with the assets (estimated at USD 5 trillion, Dec. 2011, source: SWF Institute and Prequin) being managed by SWFs?

    Duration: 04:20 

  • Q2 - How do foreign-stake-holdings affect the national sovereignty of an investment receiving nation? How can these interests be aligned?

    Duration: 03:16 

  • Q3 - How do SWFs differentiate themselves from other allocators/investors (U&HNWI, Pensions/Endowments, Institutional)?

    Duration: 02:15 

  • Q4 - In terms of portfolio allocation - how much liquidity do they need and what percentage of their portfolio can be illiquid? How often do they rebalance their portfolio?

    Duration: 04:01 

  • Q5 - Do SWFs find it harder to allocate owing to their large ticket size?

    Duration: 01:13 

  • Q6 - Given their size, do and can SWFs move markets?

    Duration: 01:39 

  • Q7 - What are your observations on the path they are likely to follow in the future?

    Duration: 03:32 

Radio Link
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. M&A - U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga, Hedge fund Parvus shows hand, toppling William Hill merger deal[more]

    U.S. hedge fund HarbourVest is shock winner in the £1.1bn SVG Capital takeover saga From The fierce battle to buy Britain's biggest private equity group has come to an unexpected conclusion, with the original bidder walking away with the prize. SVG Capital has agreed

  2. Marc Lasry: Energy is still a phenomenal opportunity[more]

    From Distressed debt specialist Marc Lasry said energy debt is still a "phenomenal opportunity" because investors can get "massively overpaid" for the risk they take on. There are "huge opportunities" in the energy sector especially in restructurings, the Avenue Capital Group CEO said Tues

  3. Opalesque Exclusive: Ex-SAC manager re-emerges with market neutral hedge fund[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: A manager re-emerged from the SAC battleground last year to launch his own hedge fund under the umbrella of New York-based investment firm Endicott Group.

  4. North America - Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation, Billionaire hedge fund titans Dinan, Lasry on election, markets and best investment ideas[more]

    Hedge-fund manager Kyle Bass says the U.S. is on track for stagflation From Kyle Bass, founder of Hayman Capital Management, on Wednesday warned that the U.S. is headed toward so-called stagflation. Stagflation is typically described as persistently high inflation and hi

  5. David Einhorn speaks on passive investing, Mylan, his cheapest stock, the Fed[more]

    From Greenlight Capital hedge fund manager David Einhorn (Trades, Portfolio) joined nine other famed investors on Tuesday to talk about stocks at the annual Great Investors’ Best Ideas Investment Symposium in Dallas. Presenters at the annual conference typically pitch one or severa