Based on a sample of 56 sovereign wealth funds (SWFs), the aim of the paper was to conduct a comparative analysis of SWFs and other asset management vehicles to verify whether SWFs can be considered institutional investors. Analysis focused on SWF asset allocations in a period that included the subprime mortgage crises (2007-2010), as well as on ‘political bias’. The results indicate that, while in the medium to long term SWFs use the same investment logic as institutional investors, in the short-term, there were other investment motivations beyond maximizing risk-return ratio.

Are Sovereign Wealth Funds Different?

PICHLER, Flavio
2012

Abstract

Based on a sample of 56 sovereign wealth funds (SWFs), the aim of the paper was to conduct a comparative analysis of SWFs and other asset management vehicles to verify whether SWFs can be considered institutional investors. Analysis focused on SWF asset allocations in a period that included the subprime mortgage crises (2007-2010), as well as on ‘political bias’. The results indicate that, while in the medium to long term SWFs use the same investment logic as institutional investors, in the short-term, there were other investment motivations beyond maximizing risk-return ratio.
Sovereign wealth funds (SWFs); investitori istituzionali; asset allocation; political bias
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11562/476130
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