Mon, Dec 22, 2014
A A A
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 

  logo

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. Investing - Big hedge funds win again on PetSmart, Riverbed, RBS sells real estate loans to hedge fund Cerberus, Talisman energy speculation: Which hedge funds could benefit?[more]

    Big hedge funds win again on PetSmart, Riverbed From CNBC.com: Another week, another set of wins for activist investors. On Sunday, pet supply retailer PetSmart agreed to the largest leveraged buyout of the year at $8.7 billion. Hedge fund firm JANA Partners had been pushing for a sale a

  2. Outlook - Hedge fund manager who remembers 1998 rout says prepare for pain, Bond guru Bill Gross predicts U.S. economic growth to dip to 2%[more]

    Hedge fund manager who remembers 1998 rout says prepare for pain From Bloomberg.com: Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the region’s

  3. Investing - Hedge funds get boost from healthcare in 2014, Paulson & Co takes stake in Salix on heels of inventory issues[more]

    Hedge funds get boost from healthcare in 2014 From Valuewalk.com: The healthcare sector started the year on a turbulent note, as stocks of many major biotechnology companies were battered. However, most of the players in this sector have bounced back. The BarclayHedge Healthcare & Biotec

  4. Comment - High fees and low performance hit hedge funds[more]

    From FT.com: Disenchantment over high fees and lackluster performance may finally be turning the tide against hedge funds, fresh data suggest. Despite generally weak returns since the global financial crisis, hedge funds have enjoyed positive net inflows every year since 2010. This helped assets und

  5. Performance - Lansdowne, Man Group, other hedge funds profit from shorts in oil, Turmoil boosts hedge funds that bet against Russia, oil, CTAs post strongest returns since December 2010[more]

    Lansdowne, Man Group, other hedge funds profit from shorts in oil From Valuewalk.com: The rising short interest in oil companies implies that the worst for oil is yet to come. Data from Markit shows that short exposure in energy sector of S&P 500 is still looming close to the highest mar