Sovereign wealth funds in theory and practice / Jan Ander, Petr Teplý.

Format:

Book

Author/Creator:

Ander, Jan, author.

Teplý, Petr, author.

Language:

English

Subjects (All):

Sovereign wealth funds.

International finance.

International economic relations.

Physical Description:

1 online resource (131 p.)

Edition:

First English edition.

Place of Publication:

Prague : Karolinum Press, [2014]

Language Note:

English

Summary:

Sovereign Wealth Funds (SWFs) have been currently becoming a more and more important part of the international financial system. These institutions administrated more than USD 6 trillion under their asset management as of the end of 2013. SWFs are the funds owned by a state, set up for various macroeconomic purposes. Usually, they are financed through the transfer of foreign currency assets which are mainly long-term investments abroad. This book focuses on global SWFs from both the theoretical and empirical point of view. Moreover, it discusses a theoretical set-up of a SWF in the Czech Republic

Contents:

Contents; List of pictures; List of tables; List of abbreviations; 1. Theoretical part; 1.1 Literature review; 1.2 Definition of State sovereign funds ; 1.3 Rise, development and role of SWFs; 1.3.1 Santiago Principles; 1.3.2 Individual objectives of funds; 1.4 Types of SWFs based on sources of capital accumulation; 1.5 Types of SWFs based on investment purposes; 1.5.1 Basic profile of SWFs; 1.5.2 Difference between SWFs and pension funds ; 1.6 Position of SWFs within global investors' portfolio; 1.7 Investment strategy; 1.8 Investment trends

1.9 Macroeconomic impact of SWFs on home and host countries 1.9.1 Impact on changes in currency rates, prices of assets and commodities; 1.9.2 Impact and effect of investment decisions of SWFs on their performance ; 1.10 Overview of selected SWFs ; 1.10.1 Analysis of Government Pension Fund (GPF); 1.10.2 Abu Dhabi Investment Authority (ADIA) Fund; 1.10.3 China Investment Corporation (CIC) Fund; 1.10.4 Fundo Soberano do Brasil (FSB); 1.11 Overview of recent SWFs transactions; 2. Empirical part; 2.1 Introductory comments and methodology; 2.2 Analysis of volume of SWFs' assets

2.3 Analysis of SWFs' transparency 2.4 Indices of SWFs' transparency ; 2.4.1 The Peterson Institute's Index of Transparency ; 2.4.2 Linaburg-Maduell Index of Transparency (LMTI); 2.5 Analysis of SWFs from the institutional view; 2.6 Analysis of development of SWFs' assets in the 2008-2010 period ; 2.7 Macroeconomic impact and potential risks of SWFs; 2.7.1 Macroeconomic impacts; 2.7.2 A case study: Merger Tinto - BHP Billition; 2.8 Analysis of the impact of funds on the increase of national wealth; 2.8.1 SWFs as saving institutions

2.8.2 Profitability of SWF investments: public versus private sector 2.8.3 Political context; 2.8.4 Tax policy; 2.8.5 Value of a fund and impact on wealth growth ; 2.8.6 Measuring efficiency of funds ; 2.9 SWFs and global disbalances; 2.10 Theoretical example: Possibility of setting up a SWF in the Czech Republic; 2.10.1 Economic crisis - good chance to introduce changes; 2.10.2 Theoretical example of setting up a SWF in the Czech Republic; 2.10.3 Revenues of a SWF in the Czech Republic; 3. Executive summary; 4. Bibliography; 5. Appendices; Index

Notes:

Description based upon print version of record.

Description based on online resource; title from PDF title page (ebrary, viewed June 16, 2015).

ISBN:

9788024624426

8024624427

OCLC:

910815388