Sovereign Wealth Funds
Lixia Loh


Sovereign Wealth Funds (SWFs) have been much discussed since the term was first coined in 2005 and yet remain little understood and appreciated. These state-investment entities have regularly and spectacularly made news headlines around the world in recent years following their major purchases of European and U.S. financial and
strategic assets. This publicity however unwelcome in the world of international finance has stirred increasing debate and concerns about SWFs, their roles and objectives. These funds, however, are nothing new. The first modern SWF, Kuwait Investment Board, was set up in 1953. Today, SWFs hold around $3 trillion USD in assets and are estimated to grow to $12 trillion USD by 2012. With such a rapid growth trajectory, what new challenges do these funds pose for governments and businesses? Sovereign Wealth Funds: States Buying the World provides a comprehensive overview of SWFs, tracing their origins, objectives, investment strategies, modus operandi, and implications to the international financial system. This book deals with the subject in depth, covering the structure and strategy of SWFs clearly and comprehensively.