Sovereign wealth funds a statistical overview
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SOVEREIGN WEALTH FUNDS A statistical overview. Marko Maslakovic Senior Economist International Financial Services, London www.ifsl.org.uk. Sovereign investment vehicles. $ trillion.

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Sovereign wealth funds a statistical overview

SOVEREIGN WEALTH FUNDSA statistical overview

Marko Maslakovic

Senior Economist

International Financial Services, London

www.ifsl.org.uk


Sovereign investment vehicles

Sovereign investment vehicles

$ trillion

  • Government controlled and owned pools of funds funded by official reserves,but managed and invested separately.

  • Typically held in foreign assets and invested for the long-term.

  • Some over 50 years old / more than a half at least 10 years old

  • Vary in size, mgt. structure, sources of funds, use of funds (stabilisation, savings)


Growth of swfs assets

Growth of SWFs’ assets

$ trillion

64%

Commodity

87%

13%

36%

Non-commodity

To reach: $5 trillion by 2010 and $10 trillion by 2015


Global funds under management

Global funds under management

$ trillion, end-2007

SWFs are, however, increasing at a greater pace and their influence on global markets will grow in the coming years


Where is the money coming from global current account imbalances

Where is the money coming from?Global current account imbalances

$ trillion

Euro Area

Asia

Oil Exporters

United States

Shift in structure of global finance - rise in importance of Emerging Markets


Sources of swfs assets

Sources of SWFs’ assets

  • Commodity sources (around 2/3 of total)

    • Export of Oil

    • Gas

    • Copper, etc...

  • Non commodity sources (around 1/3 of total)

    • Official foreign exchange reserves

    • Pension funds

    • Fiscal surpluses

    • Privatisation receipts

by 2010 (60% commodity / 40% non-commodity)by 2015 (48% commodity / 52% non-commodity)


Swfs market share by continent

SWFs market share by continent

% share, end-2007

  • United Arab Emirates + Singapore + Norway + China + Saudi Arabia = 75%

  • Highly concentrated – in total around 50 SWFs


Commodity sources

Commodity sources

Oil exporting countries’ foreign investments assets

% share, end-2007

Total: $4.1 trillion

Growth at a compound annual rate of around 20% since 2000.


Non commodity sources

Non-commodity sources

Official foreign exchange reserves

% share, end-2007

Total: $6.5 trillion


Asian official fx reserves

Asian official FX reserves

$bn

63% of

world total

Other Asia

44% of

world total

China

Growth at a compound annual rate of around 20% since 2000.


The uk s position on swfs

The UK’s position on SWFs

  • The UK Government is commited to ensuring the UK remains an open and competitive market for international investment

  • The UK has a regulatory, competition and national security framework that ensures that all foreign investment (whether from a SWF or not) meets the appropriate criteria


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