Sovereign Wealth Funds: Aspects of Governance Structures and Investment Management

Author/Editor:

Abdullah Al-Hassan ; Michael G. Papaioannou ; Martin Skancke ; Cheng Chih Sung

Publication Date:

November 11, 2013

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

This paper presents in a systematic (normative) manner the salient features of a SWF‘s governance structure, in relation to its objectives and investment management that can ensure its efficient operation and enhance its financial performance. In this context, it distinguishes among the various governing bodies and analyzes key aspects of the investment policy and setting of the risk tolerance level in order to ensure consistent risk-bearing capacity and greater accountability. Further, it discusses the important role of SWFs in macroeconomic management and the need for close coordination with other macroeconomic and financial policies as well as their role in global financial stability.

Series:

Working Paper No. 2013/231

Subject:

Asset allocation Asset and liability management Asset management Financial institutions Financial regulation and supervision Legal support in revenue administration Mutual funds Operational risk Revenue administration

English

Publication Date:

November 11, 2013

ISBN/ISSN:

9781475518610/1018-5941

Stock No:

WPIEA2013231

Pages:

34

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