Research Of Sovereign Wealth Funds' Running Pattern

The thesis starts from discussing the definition, features, classification and the causes of forming of the Sovereign Wealth Funds(SWF), looking back its developing process, forecasting its future trend and affirming its important role in national foreign exchange reserve management as a straight oversee investment tool. The thesis then dissects the running pattern of the SWF of Singapore, Russia, Norway and the Middle East one by one. It gives an analysis of the problems and shortcomings existing in Chinese sovereign wealth funds at the present and looks for the management experience which is beneficial to the China Investment Corporation(CIC). Thesis comes to conclusions as follows. First the relative apartment of the country needs to pinpoint legislation and make the position and principles of management clear. Second, they should arrange the administration structure of CIC, making the separation of the government and the enterprise, definiting the distribution of power and promoting the administration efficiency. Then, the strategy of the investment needs to be readjusted and the investment combination needs to be promoted. People who make choice on the investment products ought to refer to the risk degree of the investment index and make decisions step by step. They can also enlarge the part of deposit funds, so as to maximize the profit on the basis of risk control and management. Finally, the assessment system for achievement in the corporation should be clear, and gradually be open of the information to the outside, thus make it easier to get a whole understanding of the inner and outer environment.