Font Size: a A A

A Research On The Asset Allocation And Risk Management Of The Sovereign Wealth Funds

Posted on:2017-12-14Degree:MasterType:Thesis
Country:ChinaCandidate:H CuiFull Text:PDF
Abstract/Summary:PDF Full Text Request
The development of sovereign wealth funds have been more than 50 years,but in the last decade the development of it reached the peak.With the changeable global economic environment,more and more countries choose to manage the foreign exchange reserves in the form of sovereign wealth funds.At the same time,the amounts of sovereign wealth funds is expanding the scope of global,increasingly large capital and overall scale and the impact on the world economy is growing.It also caused a widely discussion in academic circles and practical circles.China is the country which set up sovereign wealth funds later than others.Nearly 20 years,Chinese economy in the world has achieved rapid development,increasingly expanding economic size and the total amount of foreign exchange reserves at the end of 2014 is $3.8 trillion.How to manage foreign exchange reserves has become a problem.It is a symbol that the Chinese government built CIC in September 2007,that China chose the sovereign wealth funds to manage foreign exchange reserves.Chinese sovereign wealth funds keeps the professional,market-oriented standard,less than 10 years,the funds is growing continuously and it is not as right as rain.As the key parts of funds,asset allocation and risk management are worthy of discussing.In this paper,asset allocation and risk management related literature of the domestic sovereign wealth funds were summarized.And then with sovereign wealth funds,asset allocation and risk management theory as the foundation and with the practicing of global sovereign wealth funds in asset allocation and risk management,we tried to make a research on Chinese sovereign wealth funds asset allocation and risk management.After that,we chose the China investment company as a case summarizing developing situation,pointing out the selection of asset allocation strategy and the establishment of the risk management framework,etc.Finally,combined with the theoretical analysis and case analysis,we establish "the new three defensive lines",namely the establishment of the risk management functions,the determination of asset allocation and the function of supervision department.
Keywords/Search Tags:Sovereign Wealth Funds, Asset Allocation, Risk Management, China Investment Corporation
PDF Full Text Request
Related items