Le strategie di portafoglio dei fondi di ricchezza sovrani e la crisi globale

Translated title of the contribution: [Autom. eng. transl.] The portfolio strategies of sovereign wealth funds and the global crisis

Valeria Miceli, Alessio Ciarlone

Research output: Working paper

Abstract

[Autom. eng. transl.] The work analyzes the investment dynamics of sovereign funds by country and by sector over the last twenty years. The assets managed by the sovereign funds went from 500 billion dollars in 1995 to 4.7 trillion at the end of 2011. Based on a specifically created dataset, relating to 2,740 transactions in the share segment made up of 29 sovereign wealth funds in the period 1990-2010 for a total of $ 565 billion in acquisitions and $ 191 billion in disposals, analyzing the sectoral and geographical allocation of sovereign wealth investments and the impact of the global crisis. From the analysis it emerges that the advanced countries are and remain, even after the crisis, the main destination of the investments of sovereign funds. The favored sector is financial, even though, following the crisis, interest in other sectors, including energy and raw materials, has grown. Overall, the financial crisis has had an impact on the investment activity of sovereign funds, however lower than that on other important types of investors.
Translated title of the contribution[Autom. eng. transl.] The portfolio strategies of sovereign wealth funds and the global crisis
Original languageItalian
PublisherBanca d'Italia
Number of pages40
Publication statusPublished - 2013

Keywords

  • Fondi Sovrani
  • Institutional Investors
  • Sovereign Wealth Funds
  • flussi di capitale
  • investitori istituzionali

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