Chapter 52

Sovereign Funds

Q. Liu

The University of Hong Kong, Hong Kong SAR, China

Outline

Overview: Definition, Type, Size, and Number

The rapid growth of sovereign wealth funds (SWFs), both in size and number, is emerging as a major global issue. Sovereign funds are not new – the establishment of the first SWF in the world, Kuwait Investment Authority, dates back to 1953. SWFs, in terms of size, are not comparable to private institutional investors either ...

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