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Posted on April 12th, 2012
Measurement, Governance and Long-term Investing explores how difficulties faced by long-term investors –pension funds, sovereign wealth funds, foundations, endowments, insurers and family offices – in measuring investment values and returns, risks and liabilities intersect with the governance of long-term investors themselves. The report argues that, without effective governance, measurement schemes can distort [...] Posted on April 11th, 2012
That study put forward a model to optimise the investment and risk management practices of sovereign wealth funds, which can be regarded as the extension to sovereign wealth funds of the liability-driven investing paradigm recently developed in the pension fund industry. The model suggested that the investment strategy of a sovereign wealth fund [...] Posted on October 17th, 2011
This volume is a collection of papers presented at the Third Public Investors Conference, which was jointly organized by the Bank for International Settlements (BIS), the European Central Bank (ECB) and the World Bank (WB). This event, which took place on 2-3 November 2010 at the BIS’s head office in Basel, brought together [...] Posted on August 18th, 2011
Sarah Bagnall and Edwin M. Truman examine the International Forum of Sovereign Wealth Funds (IFSWF) report, which claims to be “a solid, initial step toward a better understanding of the IFSWF and of the Santiago Principles,” and find this to be largely true, with a few limitations. The report, released July 7, 2011, [...] Posted on July 19th, 2011
Sovereign wealth funds (SWFs) typically have no direct earmarked liabilities. Nor should they, as the financial asset they represent is only part of total sovereign assets, which in turn guarantee all sovereign liabilities. The objective of this paper is to incorporate the economic balance sheet of the sovereign sponsor into the optimal asset [...] 4 pages
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