Upcoming Events


2nd Global Sovereign Wealth Forum 2018, London, March 20-21, 2018

The 2nd Global Sovereign Wealth Forum brings together Sovereign Wealth Funds from across the world to London. SWFs are becoming some of the largest investors in the world, shaping trends in global investments.

Pension Research Council 2018 Symposium, Philadelphia, May 3-4, 2018

The 2018 PRC Symposium on The Disruptive Impact of FinTech on Retirement Systems explores how technological innovation is changing the retirement marketplace.

The Money Management Institute Annual Conference, Dallas, October 15-17, 2018

The Money Management Institute (MMI) is the leading voice for the global financial services organizations that provide advice and investment advisory solutions to individual and institutional investors.



Articles of Interest


Final Report to the California Secure Choice Retirement Savings Investment Board

Author: Overture Financial.
Publisher: California Secure Choice Retirement Savings Investment Board
Summary: This report represents the culmination of many months of collaboration between Overture Financial and its sub-contractors, the California Secure Choice Retirement Savings Investment Board, California Secure Choice personnel and contractors, stakeholders in the public and private sectors, service providers, employers and employer associations, worker organizations, and community groups. The report is an actionable document that contributes towards the successful launch of the California Secure Choice Program.

The Linkage between the Oil and Non-oil Sectors - A Panel VAR Approach

Author: Nir Klein.
Publisher: International Monetary Fund, Working Paper No. 10/118.
Summary: Recent empirical studies have shown an inverse relation between natural resource intensity and long-term growth, implying that the natural resources generally impede economic growth through various channels (the"natural resource curse"). This paper departs from these studies by exploring the intersectoral linkages between oil and non-oil sectors in a cross-country perspective.

Setting up a Sovereign Wealth Fund: Some Policy and Operational Considerations

Author: Udaibir S. Das, Yinqiu Lu, Christian Mulder and Amadou Sy.
Publisher: International Monetary Fund, Working Paper No. 09/179.
Summary: This paper offers a policy and operational “roadmap” to policymakers considering setting up an SWF. It should also be of interest to policymakers in countries where SWFs are already in place, to review their existing policies and operations. Finally, it offers an opportunity to identify areas where research in macroeconomics and finance should give further answers as to the adequacy of existing practice related to the setting up and management of SWFs, an area where practical considerations often lead theoretical research.

Sovereign Wealth Funds: Current Institutional and Operational Practices

Author: Cornelia Hammer, Peter Kunzel and Eva Petrova.
Publisher: International Monetary Fund, Working Paper No. 08/254.
Summary: The International Working Group of Sovereign Wealth Funds (IWG) was established on April 30, 2008, to identify and draft a set of principles that properly reflect their investment practices and objectives.1 As part of this initiative, certain IWG members completed a short survey of their current institutional and operational practices. The SWF survey, which was conducted by staff of the International Monetary Fund (IMF), solicited responses on a voluntary and confidential basis from members of the IWG. The IWG used the responses as background information and input in the preparation of the Generally Accepted Principles and Practices for SWFs (GAPP).

A Scoreboard for Sovereign Wealth Funds

Author: Edwin M. Truman.
Publisher: Paterson Institute for Internationall Economics.
Summary: Sovereign wealth funds (SWF) or their near equivalent come in many forms, with a variety of objectives, in countries with a range of governmental structures. Consequently, comparisons among them are difficult. Nevertheless, it is possible to outline a core set of elements that are substantially relevant for all such entities whether the objective is short-term macro-economic stabilization, wealth transfer across generations, or a combination of objectives, which usually is the case. This paper evaluates each individual sovereign wealth fund on the extent to which those elements are associated with its structure and operation and, in the process, and creates a scoreboard.

Are Sovereign Wealth Funds’ Investments Politically Biased? A Comparison with Mutual Funds

Author/Editor: Rolando Avendaño and Javier Santiso.
Publisher: OECD Development Centre, Working Paper No. 283.
Summary: This paper belongs to a series of studies on Sovereign Wealth Funds and their role in the new financial architecture. The study is a background paper for the upcoming Global Development Outlook 2010.  This research deals with the question of sovereign wealth funds’ investments from a comparative perspective. Based on a unique holding-level data for a group of sovereign funds and mutual funds, it shows that the differences in equity investments between SWFs and other institutional investors are less pronounced than suspected .

The Impact of Sovereign Wealth Funds on Global Financial Markets

Author/Editor: Roland Beck and Michael Fidora.
Publisher: European Central Bank, Occasional Paper Series No. 91.
Summary: This paper analyses the impact of sovereign wealth funds (SWFs) on global financial markets. It presents back-of-the-envelope calculations which simulate the potential impact of a transfer of traditional foreign exchange reserves to SWFs on global capital flows. If SWFs behave as CAPM-type investors and thus allocate foreign assets according to market capitalization rather than liquidity considerations, official portfolios reduce their “bias” towards the major reserve currencies. As a result, more capital flows “downhill” from rich to less wealthy economies, in line with standard neoclassical predictions.



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In the News

August 2016
California Assembly Passes Bill to Implement Secure Choice

March 2016
California Secure Choice Proposal Moves Forward


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Overture Financial
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New York, NY 10005
United States of America

Phone: +1 (212) 202-0297
Fax: +1 (212) 994-6561