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Is CalPERS a Sovereign Wealth Fund?

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  • Ashby H. B. Monk

Abstract

Sovereign Wealth Funds (SWFs) are the subject of intense debate. While these funds are hard to define in precise terms, all agree they are government-sponsored pools of financial assets. With roughly $3 trillion under management today and forecasts that suggest this number could approach $10 trillion in under a decade, many wonder what role these public investment funds will play in private markets. Due to SWFsí government sponsorship, some fear that they will be used illegitimately to advance political, instead of commercial, agendas. This geopolitical concern is compounded by a general lack of transparency and a perception among Western analysts of weak accountability and poor governance practices...

Suggested Citation

  • Ashby H. B. Monk, 2008. "Is CalPERS a Sovereign Wealth Fund?," Issues in Brief ib2008-8-21, Center for Retirement Research, revised Dec 2008.
    • Handle: RePEc:crr:issbrf:ib2008-8-21
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    File URL: http://crr.bc.edu/briefs/is-calpers-a-sovereign-wealth-fund/
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    References listed on IDEAS

    as
    1. Juan Yermo, 2008. "Governance and investment of sovereign and public pension reserve funds in selected OECD countries," OECD Journal: Financial Market Trends, OECD Publishing, vol. 2008(1), pages 133-161.
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    3. repec:crr:issbrf:ib2007-7-12 is not listed on IDEAS
    4. Juan Yermo, 2008. "Governance and Investment of Public Pension Reserve Funds in Selected OECD Countries," OECD Working Papers on Insurance and Private Pensions 15, OECD Publishing.
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    7. Gordon L Clark & Roger Urwin, 2008. "Best-practice pension fund governance," Journal of Asset Management, Palgrave Macmillan, vol. 9(1), pages 2-21, May.
    8. Mitchell, Olivia S. & Piggott, John & Kumru, Cagri, 2008. "Managing public investment funds: best practices and new questions," Journal of Pension Economics and Finance, Cambridge University Press, vol. 7(3), pages 321-356, November.
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