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SOVEREIGN WEALTH FUNDS A statistical overview

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Title: SOVEREIGN WEALTH FUNDS A statistical overview


1
SOVEREIGN WEALTH FUNDS A statistical overview
Marko Maslakovic Senior Economist International
Financial Services, London www.ifsl.org.uk
2
Sovereign investment vehicles
trillion
  • Government controlled and owned pools of funds
    funded by official reserves, but managed and
    invested separately.
  • Typically held in foreign assets and invested
    for the long-term.
  • Some over 50 years old / more than a half at
    least 10 years old
  • Vary in size, mgt. structure, sources of funds,
    use of funds (stabilisation, savings)

3
Growth of SWFs assets
trillion
64
Commodity
87
13
36
Non-commodity
To reach 5 trillion by 2010 and 10 trillion by
2015
4
Global funds under management
trillion, end-2007
SWFs are, however, increasing at a greater pace
and their influence on global markets will grow
in the coming years
5
Where is the money coming from?Global current
account imbalances
trillion
Euro Area
Asia
Oil Exporters
United States
Shift in structure of global finance - rise in
importance of Emerging Markets
6
Sources of SWFs assets
  • Commodity sources (around 2/3 of total)
  • Export of Oil
  • Gas
  • Copper, etc...
  • Non commodity sources (around 1/3 of total)
  • Official foreign exchange reserves
  • Pension funds
  • Fiscal surpluses
  • Privatisation receipts

by 2010 (60 commodity / 40 non-commodity)by
2015 (48 commodity / 52 non-commodity)
7
SWFs market share by continent
share, end-2007
  • United Arab Emirates Singapore Norway
    China Saudi Arabia 75
  • Highly concentrated in total around 50 SWFs

8
Commodity sources
Oil exporting countries foreign investments
assets share, end-2007
Total 4.1 trillion
Growth at a compound annual rate of around 20
since 2000.
9
Non-commodity sources
Official foreign exchange reserves share,
end-2007
Total 6.5 trillion
10
Asian official FX reserves
bn
63 of world total
Other Asia
44 of world total
China
Growth at a compound annual rate of around 20
since 2000.
11
The UKs position on SWFs
  • The UK Government is commited to ensuring the UK
    remains an open and competitive market for
    international investment
  • The UK has a regulatory, competition and national
    security framework that ensures that all foreign
    investment (whether from a SWF or not) meets the
    appropriate criteria
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