| During the global financial crisis, governments and markets turned with hope and trepidation to the hidden giants of international finance. They were discreet, they were powerful, and they had the financial muscle to pull banks – even governments – out of the fire. Here were the weapons of financial mass salvation.
The secret giants were sovereign wealth funds (SWFs). Ranging from the giant Abu Dhabi Investment Corporation with $627 billion (£406bn) through China’s $568bn of squirrelled assets to Norway’s $50bn oil fund, they have eluded precise definition – in structure, function, governance and size...............................................Full Article: Source
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