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Optimal Scale and Asset Allocation for Sovereign Wealth Funds: China’s Case

In: Central Bank Reserves and Sovereign Wealth Management

Author

Listed:
  • Yueyan Zhang
  • Xianhua Wei

Abstract

Sovereign wealth funds (SWFs) have been discussed more and more frequently and internationally nowadays. However, there is yet no clear definition of an SWF. Some well-recognized aspects of SWFs are listed as follows: sovereign wealth, in contrast with private wealth, is public wealth, generally in the form of a foreign currency and typically composed of governmental earnings from specific taxes, budget distribution, incomes from natural resources, surplus of international payments or other means. An SWF is different from a traditional government pension fund. It is also different from those government organizations that simply hold reserved assets in order to keep the value of currency stable. An SWF is a brand new investment institution with distinct professional and market characteristics.

Suggested Citation

  • Yueyan Zhang & Xianhua Wei, 2010. "Optimal Scale and Asset Allocation for Sovereign Wealth Funds: China’s Case," Palgrave Macmillan Books, in: Arjan B. Berkelaar & Joachim Coche & Ken Nyholm (ed.), Central Bank Reserves and Sovereign Wealth Management, chapter 11, pages 285-308, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-25081-9_11
    DOI: 10.1057/9780230250819_11
    as

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