16.08.2011 - Sovereign wealth funds: Friendly giants
Sovereign wealth funds (SWFs) are not a new phenomenon. The first SWF was established more than 50 years ago, but they attract more interest now than ever. This is both because of their sheer scale - the Gulf-based SWFs alone are thought to control assets equivalent to those of the entire hedge fund industry - and a number of high-profile transactions in recent years. Detractors often incorrectly assume that SWFs are a homogeneous group of investors. Although an SWF is, in generic terms, an investment vehicle with authority to invest the assets of a nation, such institutions range from central banks to state-owned companies and include stabilisation funds, savings funds and state pension funds..............................................Full Article: Source
Print