Many rich countries in the last decade have established SWFs.
Rather than using revenues for day-to day government expenditure governments have put billions of revenue from selling resources such as oil, gas into SWFs which are supposed to supplement impending Pension Crisis.
Their overall worth now stands in the Trillions of $. Estimated to be over 6 trillion $ end of 2013.
The questions are;
1) Should there be enforceable rules for (SWF
) to make them more transparent?
2) Are they being used for strategic purposes rather than commercial ones?
3) Should they be barred from investing in ecologically damaging or dubious industries overseas?
4) Are they influencing national security and political independence?
5) How is the Money ( trillions) be eventually distributed – to whom?
6) Why are they not mentioned by the Economic gurus of the world?
7) What are their long-term objectives?
8) Can they be trusted?
9) Is all the Money clean?
10) ARE WE BEING HOOD WINKED INTO A WORLD WHERE EVERY THING WILL BE PRIVATELY OWNED.
The answer is to date most SWFs rather than ameliorating inequalities or subsidizing the consumption of the poor are intended to finance unspecified prestige projects for ruling families.
Largest sovereign wealth funds.
| A Sovereign Wealth Fund is a state-owned investment fund comprising financial assets such as stocks, bonds, real estate or other instruments and funded by foreign exchange assets. In the latest 2012 ranking, the Abu Dhabi Investment Authority tops the list at US$627 billion, followed by Norway’s Government Pension Fund–Global (US$611 billion) and China’s SAFE Investment Company (US$568 billion). Many of the world’s largest SWFs are financed via oil revenue, such as in the case of the Abu Dhabi Investment Authority and Norway’s Government Pension Fund–Global.
Ten Largest SWFs in 2012 (in US$ Millions)
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| Sovereign wealth funds (SWFs) are managed separately from official currency reserves. They are pools of money governments use to generate profits. Often this money is invested in foreign companies. Their assets can include balance-of-payments surpluses, official foreign currency operations, proceeds of privatizations, fiscal surpluses and/or receipts resulting from commodity exports.
They can be structured as a fund, pool or corporation. They do not include foreign currency reserve assets held by monetary authorities for the traditional balance-of-payments or monetary policy purposes, state-owned enterprises (SOEs) in the traditional sense, government-employee pension funds or assets managed for the benefit of individuals.
| Data is from the Sovereign Wealth Fund Institute, 2012 Sovereign Wealth Fund Allocation Report. |
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Read more: http://www.gfmag.com/tools/global-database/economic-data/12146-largest-sovereign-wealth-funds.html#ixzz2v0ny419u
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First off I would like to say great blog! I had a quick question that I’d like
to ask if you do not mind. I was interested to find out how you center yourself and clear your mind prior
to writing. I’ve had trouble clearing my thoughts in getting my ideas out there.
I truly do enjoy writing but it just seems like the first 10 to 15 minutes are usually lost
just trying to figure out how to begin. Any suggestions or tips?
Kudos!
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Many thanks. You begin by knowing you subject, and now waffling on about it.
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