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Sovereign Wealth Funds

The Investment Practices of Sovereign Investors

Sovereign wealth funds (SWFs) are some of the largest pools of capital on the planet, but how do sovereign investors actually invest these assets?  We searched high and low for the best whitepapers on this topic, uncovering surveys of SWFs and other long-term investors, reports on governance practices and sustainability initiatives for SWFs, and insight into other investment practices within these funds.

We've also included the latest annual reports for two of the top sovereign wealth funds - the Abu Dhabi Investment Authority and Norway's Government Pension Fund Global. 

sovereign wealth funds

Invesco Global Sovereign Asset Management Study 2019

For compliance reasons, this paper is only accessible in certain geographies

Invesco's 7th study of sovereign investors gathers the perspectives of investment managers housed within SWFs, central banks, and state pension funds across the globe.  

Invesco Global Sovereign Asset Management Study 2019

For compliance reasons, this paper is only accessible in certain geographies

Invesco's 7th study of sovereign investors gathers the perspectives of investment managers housed within SWFs, central banks, and state pension funds across the globe.  

Sovereign Investors 2020: A growing force (PwC, 2019)

This 40-page report by PwC examines the role of sovereign wealth funds in global financial markets. It focuses on five global megatrends that are helping reshape the world economy and impacting Sovereign Investors.

How sovereign institutions have embraced passive strategies (UBS AM, 2018)

This report outlines how SWFs and central banks are embracing passive strategies, as well as how asset managers can prepare for the ongoing and evolving investment needs of these institutions.

The One Planet Sovereign Wealth Fund Framework (IFSWF, 2018)

The One Planet Summit was held in December of 2017, and established the One Planet SWF Working Group to highlight climate risks specific to large, long-term investors and to prioritise the transition towards a low emissions economy.

How Do Central Banks Invest? (SSGA, 2019)

This paper updates a previous SSGA study on asset allocation within central banks, reviewing their reserve portfolios, and bringing to light some of the shifts made in response to the present economic environment.

How Do Sovereign Wealth Funds Invest? (SSGA, 2018)

SSGA updates their previous study on asset allocation within sovereign wealth funds, which was released in 2015.

Commodity-based SWFs: Managing Flows and the Sovereign Balance Sheet (IMF, 2018)

Many SWFs are derived from the sale of commodities, but how are these funds actually managed? Here, the IMF looks in depth at commodity-based SWFs, examining fiscal linkages, ALM approaches, and what happens when commodity prices are higher or lower than expected.

Sovereign Asset-Liability Management: Guidance For Resource-Rich Economies (IMF)

Resource-rich economies may benefit from guidance surrounding the management of their natural resource wealth. This IMF paper provides a framework for managing sovereign assets and liabilities under such circumstances.

Implementing the Santiago Principles: 12 Case Studies (IFSWF, 2016)

The Santiago Principles provide guidance for SWFs on governance, accountability, and sound investment practices. These 12 case studies, presented by the IFSWF, aim to illustrate examples of how SWFs can put the Santiago Principles into action.

Abu Dhabi Investment Authority Annual Review (ADIA, Jul 2019)

ADIA is the world's second largest SWF. This 26 page annual report provides a review of ADIA's operational and investment practices and also provides a commentary of their views on long-term investment themes.

Norway Global Pension Fund Global Annual Report (Norges Bank, Feb 2019)

At the present time (and depending on the definitions used) Norway is believed to have the world's largest Sovereign Wealth Fund. This comprehensive 164 page report examines in detail the fund, its assets, investment strategies and management structure.

MFS® Institutional Investor Compass℠ - An Asset Owner Survey (2019)

MFS gauges the opinion of 540 asset owners, including sovereign wealth funds, pensions, and other organizations, each with a minimum of USD 100 million AUM. The survey inquires into investment time horizons, confidence in asset management, and several other themes.

Asset Owner 100: The most influential capital (Thinking Ahead Institute)

The Asset Owner 100 is a study with data from the top 100 global asset owners, including pensions, OCIOs, endowments, foundations, and sovereign wealth funds. These asset owners represent over USD 19 trillion of capital.

Preqin Special Report: Sovereign Wealth Funds, Aug 2018

Total AUM within sovereign wealth funds is almost as much as is held within the entire alternative assets industry. Here, Preqin presents highlights from their Sovereign Wealth Fund Review.


 
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