Sovereign Wealth Funds in East Asia
Sovereign Wealth Funds (SWFs) have been in existence for many decades worldwide, however most SWFs in the East Asia and Pacific Region (EAP) are relatively new. The emergence of the SWFs in Asia is largely a by-product of the strong economic devel...
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| Format: | Policy Note |
| Language: | English en_US |
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World Bank, Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2014/09/20467317/sovereign-wealth-funds-east-asia-policy-note http://hdl.handle.net/10986/21102 |
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okr-10986-21102 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTANT ACCOUNTING ACCOUNTING STANDARD ACCOUNTING STANDARDS ADVERSE EFFECTS ALTERNATIVE INVESTMENTS ASSET BASE ASSET CLASS ASSET CLASSES ASSET MANAGEMENT ASSET-BACKED SECURITY AUDIT COMMITTEE BALANCE SHEETS BANK MANAGEMENT BANK OPERATIONS BOND BOND ISSUE BROAD MONEY BUDGET DEFICIT CAPITAL INVESTMENT CAPITAL MARKET CAPITAL MARKETS CENTRAL BANK CENTRAL BANKS CHECKS COMMERCIAL INVESTMENT COMMODITIES COMMODITY COMMON STOCK CONFLICT OF INTEREST CONFLICTS OF INTEREST CORPORATE BOND CORPORATE BONDS CORPORATE DEBT CORPORATE DEBT MARKET CORPORATE GOVERNANCE CURRENCY CURRENCY CRISIS CURRENCY EARNINGS CURRENCY RISK DEBT INSTRUMENTS DEBT ISSUANCE DEBT MARKET DEBT OBLIGATIONS DEBT SECURITIES DEBT SERVICE DEBT SERVICE PAYMENTS DEGREE OF LIQUIDITY DEVELOPING COUNTRIES DEVELOPMENT BANK DEVELOPMENT FINANCE DIRECT INVESTMENT DIVERSIFIED PORTFOLIOS DOMESTIC CURRENCIES DOMESTIC DEBT DOMESTIC DEBTS DOMESTIC ECONOMIES ECONOMIC DEVELOPMENT ECONOMIC POLICIES EMERGING ECONOMIES EMERGING MARKET EMERGING MARKET DEBT EMERGING MARKETS ENFORCEABILITY EQUITIES EQUITY FUNDS EXPORTERS EXTERNAL ASSETS EXTERNAL DEBTS FEDERAL RESERVE FEDERAL RESERVE SYSTEM FIDUCIARY RESPONSIBILITIES FIDUCIARY RESPONSIBILITY FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL RETURNS FINANCIAL RISK FINANCIAL SECURITIES FISCAL POLICY FIXED INCOME FIXED INCOME PORTFOLIO FOREIGN ASSETS FOREIGN BANKS FOREIGN CURRENCY FOREIGN CURRENCY EXPOSURE FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FOREIGN GOVERNMENT FUND MANAGEMENT FUND MANAGERS GLOBAL FINANCIAL STABILITY GLOBAL PORTFOLIO GLOBAL PORTFOLIOS GOVERNMENT BONDS GOVERNMENT INVESTMENT GOVERNMENT INVESTMENTS HEDGE FUNDS HOLDING HOLDING COMPANIES HOLDING COMPANY HOLDINGS HOME MARKET HOME MARKETS HOST COUNTRY HUMAN CAPITAL HUMAN DEVELOPMENT HUMAN RESOURCE HUMAN RESOURCES INCOME STREAMS INFLATION INFLATION INDEXES INFLATION RATE INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INSTITUTIONAL CAPACITIES INSTITUTIONAL CAPACITY INSURANCE INTERNAL AUDIT INTERNATIONAL BEST PRACTICES INTERNATIONAL ECONOMICS INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL STANDARDS INVESTING INVESTMENT ACTIVITIES INVESTMENT APPROACHES INVESTMENT ASSETS INVESTMENT CORPORATION INVESTMENT CORPORATIONS INVESTMENT DECISIONS INVESTMENT FUND INVESTMENT FUNDS INVESTMENT GUIDELINES INVESTMENT HORIZON INVESTMENT POLICIES INVESTMENT POLICY INVESTMENT PORTFOLIO INVESTMENT PORTFOLIOS INVESTMENT STRATEGIES INVESTMENT STRATEGY INVESTMENT VEHICLE INVESTMENT VEHICLES ISSUANCES LABOR STANDARDS LACK OF TRANSPARENCY LIABILITY LIQUIDITY LOCAL CURRENCY LOCAL INFRASTRUCTURE LOCAL MARKET LONG-TERM DEBT LONG-TERM INVESTMENT MACROECONOMIC MANAGEMENT MARKET CAPITALIZATION MARKET CONDITIONS MARKET PLAYERS MARKET PRACTITIONER MARKET SHARE MARKET VALUE MATURITY MONETARY AUTHORITY MONETARY FUND MONETARY POLICIES MONEY SUPPLY MORTGAGES NATIONAL DEVELOPMENT NATIONAL SECURITY NATURAL RESOURCE OPERATIONAL INDEPENDENCE OPPORTUNITY COST PENSION PENSION ASSETS PENSION FUND PENSION FUNDS PENSIONS PORTFOLIO PORTFOLIO INVESTMENT PORTFOLIOS PRIVATE CAPITAL PRIVATE EQUITY PRODUCTIVE INVESTMENT PUBLIC FUNDS PUBLIC MARKETS PUBLIC PENSION PUBLIC REGISTRY RATE OF RETURN REAL PROPERTY RESERVE RESERVE FUND RESERVE FUNDS RETURN RETURNS RISK MANAGEMENT RISK PROFILE SAVINGS SECONDARY MARKET SECONDARY MARKET LIQUIDITY SECURITY PRICES SEIGNIORAGE SHAREHOLDER SHAREHOLDER VALUE SHAREHOLDERS STRATEGIC INVESTORS SUBORDINATED DEBT SUPERVISORY BOARD TAX TRANCHE TRANCHES TRANSPARENCY TREASURY TREASURY BONDS TRUST FUND VALUE OF ASSETS WITHDRAWAL |
| spellingShingle |
ACCOUNTANT ACCOUNTING ACCOUNTING STANDARD ACCOUNTING STANDARDS ADVERSE EFFECTS ALTERNATIVE INVESTMENTS ASSET BASE ASSET CLASS ASSET CLASSES ASSET MANAGEMENT ASSET-BACKED SECURITY AUDIT COMMITTEE BALANCE SHEETS BANK MANAGEMENT BANK OPERATIONS BOND BOND ISSUE BROAD MONEY BUDGET DEFICIT CAPITAL INVESTMENT CAPITAL MARKET CAPITAL MARKETS CENTRAL BANK CENTRAL BANKS CHECKS COMMERCIAL INVESTMENT COMMODITIES COMMODITY COMMON STOCK CONFLICT OF INTEREST CONFLICTS OF INTEREST CORPORATE BOND CORPORATE BONDS CORPORATE DEBT CORPORATE DEBT MARKET CORPORATE GOVERNANCE CURRENCY CURRENCY CRISIS CURRENCY EARNINGS CURRENCY RISK DEBT INSTRUMENTS DEBT ISSUANCE DEBT MARKET DEBT OBLIGATIONS DEBT SECURITIES DEBT SERVICE DEBT SERVICE PAYMENTS DEGREE OF LIQUIDITY DEVELOPING COUNTRIES DEVELOPMENT BANK DEVELOPMENT FINANCE DIRECT INVESTMENT DIVERSIFIED PORTFOLIOS DOMESTIC CURRENCIES DOMESTIC DEBT DOMESTIC DEBTS DOMESTIC ECONOMIES ECONOMIC DEVELOPMENT ECONOMIC POLICIES EMERGING ECONOMIES EMERGING MARKET EMERGING MARKET DEBT EMERGING MARKETS ENFORCEABILITY EQUITIES EQUITY FUNDS EXPORTERS EXTERNAL ASSETS EXTERNAL DEBTS FEDERAL RESERVE FEDERAL RESERVE SYSTEM FIDUCIARY RESPONSIBILITIES FIDUCIARY RESPONSIBILITY FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL RETURNS FINANCIAL RISK FINANCIAL SECURITIES FISCAL POLICY FIXED INCOME FIXED INCOME PORTFOLIO FOREIGN ASSETS FOREIGN BANKS FOREIGN CURRENCY FOREIGN CURRENCY EXPOSURE FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FOREIGN GOVERNMENT FUND MANAGEMENT FUND MANAGERS GLOBAL FINANCIAL STABILITY GLOBAL PORTFOLIO GLOBAL PORTFOLIOS GOVERNMENT BONDS GOVERNMENT INVESTMENT GOVERNMENT INVESTMENTS HEDGE FUNDS HOLDING HOLDING COMPANIES HOLDING COMPANY HOLDINGS HOME MARKET HOME MARKETS HOST COUNTRY HUMAN CAPITAL HUMAN DEVELOPMENT HUMAN RESOURCE HUMAN RESOURCES INCOME STREAMS INFLATION INFLATION INDEXES INFLATION RATE INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INSTITUTIONAL CAPACITIES INSTITUTIONAL CAPACITY INSURANCE INTERNAL AUDIT INTERNATIONAL BEST PRACTICES INTERNATIONAL ECONOMICS INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL STANDARDS INVESTING INVESTMENT ACTIVITIES INVESTMENT APPROACHES INVESTMENT ASSETS INVESTMENT CORPORATION INVESTMENT CORPORATIONS INVESTMENT DECISIONS INVESTMENT FUND INVESTMENT FUNDS INVESTMENT GUIDELINES INVESTMENT HORIZON INVESTMENT POLICIES INVESTMENT POLICY INVESTMENT PORTFOLIO INVESTMENT PORTFOLIOS INVESTMENT STRATEGIES INVESTMENT STRATEGY INVESTMENT VEHICLE INVESTMENT VEHICLES ISSUANCES LABOR STANDARDS LACK OF TRANSPARENCY LIABILITY LIQUIDITY LOCAL CURRENCY LOCAL INFRASTRUCTURE LOCAL MARKET LONG-TERM DEBT LONG-TERM INVESTMENT MACROECONOMIC MANAGEMENT MARKET CAPITALIZATION MARKET CONDITIONS MARKET PLAYERS MARKET PRACTITIONER MARKET SHARE MARKET VALUE MATURITY MONETARY AUTHORITY MONETARY FUND MONETARY POLICIES MONEY SUPPLY MORTGAGES NATIONAL DEVELOPMENT NATIONAL SECURITY NATURAL RESOURCE OPERATIONAL INDEPENDENCE OPPORTUNITY COST PENSION PENSION ASSETS PENSION FUND PENSION FUNDS PENSIONS PORTFOLIO PORTFOLIO INVESTMENT PORTFOLIOS PRIVATE CAPITAL PRIVATE EQUITY PRODUCTIVE INVESTMENT PUBLIC FUNDS PUBLIC MARKETS PUBLIC PENSION PUBLIC REGISTRY RATE OF RETURN REAL PROPERTY RESERVE RESERVE FUND RESERVE FUNDS RETURN RETURNS RISK MANAGEMENT RISK PROFILE SAVINGS SECONDARY MARKET SECONDARY MARKET LIQUIDITY SECURITY PRICES SEIGNIORAGE SHAREHOLDER SHAREHOLDER VALUE SHAREHOLDERS STRATEGIC INVESTORS SUBORDINATED DEBT SUPERVISORY BOARD TAX TRANCHE TRANCHES TRANSPARENCY TREASURY TREASURY BONDS TRUST FUND VALUE OF ASSETS WITHDRAWAL Seward, James Ulukan, Mustafa Kim, Mee Jung Tsubota, Hiroshi Gable, Timothy Sovereign Wealth Funds in East Asia |
| geographic_facet |
East Asia and Pacific East Asia |
| description |
Sovereign Wealth Funds (SWFs) have been
in existence for many decades worldwide, however most SWFs
in the East Asia and Pacific Region (EAP) are relatively
new. The emergence of the SWFs in Asia is largely a
by-product of the strong economic development at East Asian
countries in the last two decades and the attendant
accumulation of foreign exchange reserves. However, there
are other types of SWFs in the region as well. The EAP
region is an ideal region to take a look at the issues
surrounding SWFs since Asia has the full range of funds
from long-established funds to brand new funds; from passive
portfolio investors to more aggressive strategic investors;
from resource-backed funds to foreign reserve-backed funds;
and, based in the largest, most highly developed economies
to the smallest, poorest economies in Asia. Therefore, the
objective of this report is to document the status of
Sovereign Wealth Funds in the East Asia Region and to
understand their governance structures. The report will also
investigate how lack of standardized, long-term financial
instruments devoted to emerging markets leads funds to leak
out of the EAP region, an area with significant investment
needs. It presents facts from publicly available sources on
their size, institutional structure, and investment operations. |
| format |
Economic & Sector Work :: Policy Note |
| author |
Seward, James Ulukan, Mustafa Kim, Mee Jung Tsubota, Hiroshi Gable, Timothy |
| author_facet |
Seward, James Ulukan, Mustafa Kim, Mee Jung Tsubota, Hiroshi Gable, Timothy |
| author_sort |
Seward, James |
| title |
Sovereign Wealth Funds in East Asia |
| title_short |
Sovereign Wealth Funds in East Asia |
| title_full |
Sovereign Wealth Funds in East Asia |
| title_fullStr |
Sovereign Wealth Funds in East Asia |
| title_full_unstemmed |
Sovereign Wealth Funds in East Asia |
| title_sort |
sovereign wealth funds in east asia |
| publisher |
World Bank, Washington, DC |
| publishDate |
2015 |
| url |
http://documents.worldbank.org/curated/en/2014/09/20467317/sovereign-wealth-funds-east-asia-policy-note http://hdl.handle.net/10986/21102 |
| _version_ |
1764447331526115328 |
| spelling |
okr-10986-211022021-04-23T14:04:00Z Sovereign Wealth Funds in East Asia Seward, James Ulukan, Mustafa Kim, Mee Jung Tsubota, Hiroshi Gable, Timothy ACCOUNTANT ACCOUNTING ACCOUNTING STANDARD ACCOUNTING STANDARDS ADVERSE EFFECTS ALTERNATIVE INVESTMENTS ASSET BASE ASSET CLASS ASSET CLASSES ASSET MANAGEMENT ASSET-BACKED SECURITY AUDIT COMMITTEE BALANCE SHEETS BANK MANAGEMENT BANK OPERATIONS BOND BOND ISSUE BROAD MONEY BUDGET DEFICIT CAPITAL INVESTMENT CAPITAL MARKET CAPITAL MARKETS CENTRAL BANK CENTRAL BANKS CHECKS COMMERCIAL INVESTMENT COMMODITIES COMMODITY COMMON STOCK CONFLICT OF INTEREST CONFLICTS OF INTEREST CORPORATE BOND CORPORATE BONDS CORPORATE DEBT CORPORATE DEBT MARKET CORPORATE GOVERNANCE CURRENCY CURRENCY CRISIS CURRENCY EARNINGS CURRENCY RISK DEBT INSTRUMENTS DEBT ISSUANCE DEBT MARKET DEBT OBLIGATIONS DEBT SECURITIES DEBT SERVICE DEBT SERVICE PAYMENTS DEGREE OF LIQUIDITY DEVELOPING COUNTRIES DEVELOPMENT BANK DEVELOPMENT FINANCE DIRECT INVESTMENT DIVERSIFIED PORTFOLIOS DOMESTIC CURRENCIES DOMESTIC DEBT DOMESTIC DEBTS DOMESTIC ECONOMIES ECONOMIC DEVELOPMENT ECONOMIC POLICIES EMERGING ECONOMIES EMERGING MARKET EMERGING MARKET DEBT EMERGING MARKETS ENFORCEABILITY EQUITIES EQUITY FUNDS EXPORTERS EXTERNAL ASSETS EXTERNAL DEBTS FEDERAL RESERVE FEDERAL RESERVE SYSTEM FIDUCIARY RESPONSIBILITIES FIDUCIARY RESPONSIBILITY FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MARKETS FINANCIAL RETURNS FINANCIAL RISK FINANCIAL SECURITIES FISCAL POLICY FIXED INCOME FIXED INCOME PORTFOLIO FOREIGN ASSETS FOREIGN BANKS FOREIGN CURRENCY FOREIGN CURRENCY EXPOSURE FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FOREIGN GOVERNMENT FUND MANAGEMENT FUND MANAGERS GLOBAL FINANCIAL STABILITY GLOBAL PORTFOLIO GLOBAL PORTFOLIOS GOVERNMENT BONDS GOVERNMENT INVESTMENT GOVERNMENT INVESTMENTS HEDGE FUNDS HOLDING HOLDING COMPANIES HOLDING COMPANY HOLDINGS HOME MARKET HOME MARKETS HOST COUNTRY HUMAN CAPITAL HUMAN DEVELOPMENT HUMAN RESOURCE HUMAN RESOURCES INCOME STREAMS INFLATION INFLATION INDEXES INFLATION RATE INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INSTITUTIONAL CAPACITIES INSTITUTIONAL CAPACITY INSURANCE INTERNAL AUDIT INTERNATIONAL BEST PRACTICES INTERNATIONAL ECONOMICS INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL STANDARDS INVESTING INVESTMENT ACTIVITIES INVESTMENT APPROACHES INVESTMENT ASSETS INVESTMENT CORPORATION INVESTMENT CORPORATIONS INVESTMENT DECISIONS INVESTMENT FUND INVESTMENT FUNDS INVESTMENT GUIDELINES INVESTMENT HORIZON INVESTMENT POLICIES INVESTMENT POLICY INVESTMENT PORTFOLIO INVESTMENT PORTFOLIOS INVESTMENT STRATEGIES INVESTMENT STRATEGY INVESTMENT VEHICLE INVESTMENT VEHICLES ISSUANCES LABOR STANDARDS LACK OF TRANSPARENCY LIABILITY LIQUIDITY LOCAL CURRENCY LOCAL INFRASTRUCTURE LOCAL MARKET LONG-TERM DEBT LONG-TERM INVESTMENT MACROECONOMIC MANAGEMENT MARKET CAPITALIZATION MARKET CONDITIONS MARKET PLAYERS MARKET PRACTITIONER MARKET SHARE MARKET VALUE MATURITY MONETARY AUTHORITY MONETARY FUND MONETARY POLICIES MONEY SUPPLY MORTGAGES NATIONAL DEVELOPMENT NATIONAL SECURITY NATURAL RESOURCE OPERATIONAL INDEPENDENCE OPPORTUNITY COST PENSION PENSION ASSETS PENSION FUND PENSION FUNDS PENSIONS PORTFOLIO PORTFOLIO INVESTMENT PORTFOLIOS PRIVATE CAPITAL PRIVATE EQUITY PRODUCTIVE INVESTMENT PUBLIC FUNDS PUBLIC MARKETS PUBLIC PENSION PUBLIC REGISTRY RATE OF RETURN REAL PROPERTY RESERVE RESERVE FUND RESERVE FUNDS RETURN RETURNS RISK MANAGEMENT RISK PROFILE SAVINGS SECONDARY MARKET SECONDARY MARKET LIQUIDITY SECURITY PRICES SEIGNIORAGE SHAREHOLDER SHAREHOLDER VALUE SHAREHOLDERS STRATEGIC INVESTORS SUBORDINATED DEBT SUPERVISORY BOARD TAX TRANCHE TRANCHES TRANSPARENCY TREASURY TREASURY BONDS TRUST FUND VALUE OF ASSETS WITHDRAWAL Sovereign Wealth Funds (SWFs) have been in existence for many decades worldwide, however most SWFs in the East Asia and Pacific Region (EAP) are relatively new. The emergence of the SWFs in Asia is largely a by-product of the strong economic development at East Asian countries in the last two decades and the attendant accumulation of foreign exchange reserves. However, there are other types of SWFs in the region as well. The EAP region is an ideal region to take a look at the issues surrounding SWFs since Asia has the full range of funds from long-established funds to brand new funds; from passive portfolio investors to more aggressive strategic investors; from resource-backed funds to foreign reserve-backed funds; and, based in the largest, most highly developed economies to the smallest, poorest economies in Asia. Therefore, the objective of this report is to document the status of Sovereign Wealth Funds in the East Asia Region and to understand their governance structures. The report will also investigate how lack of standardized, long-term financial instruments devoted to emerging markets leads funds to leak out of the EAP region, an area with significant investment needs. It presents facts from publicly available sources on their size, institutional structure, and investment operations. 2015-01-06T18:10:53Z 2015-01-06T18:10:53Z 2014-09-01 http://documents.worldbank.org/curated/en/2014/09/20467317/sovereign-wealth-funds-east-asia-policy-note http://hdl.handle.net/10986/21102 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Economic & Sector Work :: Policy Note East Asia and Pacific East Asia |