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SOVEREIGN WEALTH FUNDS A statistical overview

This statistical overview, presented by Marko Maslakovic, Senior Economist at International Financial Services, examines the complexities of Sovereign Wealth Funds (SWFs). Funded by official reserves and often invested in foreign assets, these funds are a significant player in global finance. With assets projected to grow to $10 trillion by 2015, their influence is increasing. The report details the main sources of SWF assets, their geographic concentration, and the importance of government-controlled investment strategies, with insights on the UK's commitment to fostering a competitive investment environment.

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SOVEREIGN WEALTH FUNDS A statistical overview

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  1. SOVEREIGN WEALTH FUNDSA statistical overview Marko Maslakovic Senior Economist International Financial Services, London www.ifsl.org.uk

  2. 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)

  3. Growth of SWFs’ assets $ trillion 64% Commodity 87% 13% 36% Non-commodity To reach: $5 trillion by 2010 and $10 trillion by 2015

  4. 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

  5. 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

  6. 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)

  7. SWFs market share by continent % share, end-2007 • United Arab Emirates + Singapore + Norway + China + Saudi Arabia = 75% • Highly concentrated – in total around 50 SWFs

  8. 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.

  9. Non-commodity sources Official foreign exchange reserves % share, end-2007 Total: $6.5 trillion

  10. 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.

  11. 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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