Patterns and Trends in Sovereign Wealth Fund Investments: A Post-Crisis Descriptive Analysis

A nalyzing more than ۹,۴۰۰ investment transactions performed by ۳۲ sovereign wealth funds (SWFs), from ۲۳ countries, and targeted towards ۷۷ countries, between ۲۰۱۰ and ۲۰۱۳, this study highlights some of the most important visible patterns and nuances in SWF investments. First, lion’s share of SWF investments are cross-border transactions that originated from and targeted towards high-income economies, while SWFs from emerging economies (mainly China) are also becoming important players in the global capital markets. Second, the most popular sectors are the financial and the real estate sectors mainly because of their more liquid nature and the energy sector for its strategic importance. Finally, domestic investments are relatively more popular among non-commodity based SWFs in comparison to commodity based SWFs. The results also show that while infrastructure investments are in line with the time horizon of SWF investments and their objectives, only five percent of SWF investments were targeted toward the infrastructure sector.

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Keywords: Sovereign Wealth Fund ، Investment ، Financial Industry ، Real Estate ، Oil ، Gas. JEL Classification: G۲۳ ، E۲۲ ، F۲۱