We had the pleasure of attending the annual International Forum of Sovereign Wealth Funds (IFSWF) last month, and providing our research and findings on the rise of sovereign development funds.
Kalytix Partners LLC is a specialized strategy and business management firm that provides bespoke research and development services to asset owners. Its mission is to help clients become leading investors through operational best practices and organizational innovation. Kalytix's clients range from large global institutions like pension funds to small family offices. Its goal is to empower clients with the resources, capabilities, and tools to excel organizationally against their peers in the global asset management industry.
Generating Impact Alpha: A Global Projects Center Conference - Stanford Unive...Peter Bruce-Clark
In April 2015, Stanford University's Global Projects Center held its first ever conference on investing for impact and investment innovation. The conference, which was called Generating Impact Alpha: Catalyzing Solutions to Global Problems Through Investment Innovation, brought together leading investors and philanthropists from a variety of different parts of the global investment chain to discuss how to generate long term financial and extra-financial out-performance - "Impact Alpha". Over two days, we heard from sovereign development funds, venture capitalists, family offices, alternative asset managers, et al. about their investment mandates, strategies and approaches to driving impact. Presentations were also given by select GPC staff on topics such as infrastructure investing, sustainability, community development and corporate venture capital, as well as many other topics.
This document contains presentations held at the event, along with additional readings that led to the development of the conference.
The document provides an overview of regional hedge fund investors in the United States. It describes the types of investors and their preferences in the Northeast around New York, Connecticut and Massachusetts. It then discusses investors on the West Coast in California and the Pacific Northwest, as well as groups in the Mid-Atlantic, Midwest, and other parts of the country. Overall the document finds that the largest concentrations of investors are in New York, Boston, and San Francisco, with a mix of large pensions, endowments, funds of funds, family offices, and foundations. Appetite is generally strongest for equity long/short and fundamental strategies.
13 hartford funds a different perspective123jumpad
This document summarizes Wellington Management's distinctive investment approach as the sub-adviser to Hartford Funds. It highlights Wellington Management's global collaboration across 12 offices worldwide, specialized research conducted by over 591 investment professionals, and private partnership structure which helps attract and retain talent. Wellington Management focuses on managing assets for institutions located around the world through specialized research, a global collaborative culture, and expertise across asset classes.
The document discusses success with venture capital and angel investors. It provides an outline on the basics of the investor market, types of venture capital and angel investors, and what investors want. Examples are given of successful companies that received venture capital funding, including brief descriptions of the companies and their founders. The presentation aims to help audiences understand how to find and appeal to venture capital and angel investors.
ENTR4800 Class 5 (Part 2): Financing Considerations for Social EnterprisesSocial Entrepreneurship
This document summarizes a class on financing options for social enterprises. It discusses:
1) Different financing options for social enterprises depending on their stage of development, ranging from grants to equity investments.
2) Factors that social investors consider, including the social benefits, management experience, a clear business proposal demonstrating financial sustainability, and capacity for financial oversight.
3) Specific criteria used by the Canadian Alternative Investment Co-op, an impact investment fund, focusing on the request amount, repayment terms, collateral, business case, risk mitigation, financial statements, and management practices.
The document outlines the objectives and strategy for an investor relations role at MIG Absolute Return LLC. The objectives include maintaining and expanding existing investor relationships, diversifying and growing assets under management, and refining investor relations infrastructure. The strategy involves developing marketing materials, leveraging relationships to arrange meetings, identifying coverage teams, and conducting roadshows in major cities to target different investor types like family offices and pensions.
Angel investors and
entrepreneurs. Its objective would be to help lucrative, reasonable and pleasant relationships
between entrepreneurs and angels.
After being an energetic angel investor for around fifteen decades, many investors recognized
that lots of the conversations they were involved with were practically just like types they
would had often before.
Kalytix Partners LLC is a specialized strategy and business management firm that provides bespoke research and development services to asset owners. Its mission is to help clients become leading investors through operational best practices and organizational innovation. Kalytix's clients range from large global institutions like pension funds to small family offices. Its goal is to empower clients with the resources, capabilities, and tools to excel organizationally against their peers in the global asset management industry.
Generating Impact Alpha: A Global Projects Center Conference - Stanford Unive...Peter Bruce-Clark
In April 2015, Stanford University's Global Projects Center held its first ever conference on investing for impact and investment innovation. The conference, which was called Generating Impact Alpha: Catalyzing Solutions to Global Problems Through Investment Innovation, brought together leading investors and philanthropists from a variety of different parts of the global investment chain to discuss how to generate long term financial and extra-financial out-performance - "Impact Alpha". Over two days, we heard from sovereign development funds, venture capitalists, family offices, alternative asset managers, et al. about their investment mandates, strategies and approaches to driving impact. Presentations were also given by select GPC staff on topics such as infrastructure investing, sustainability, community development and corporate venture capital, as well as many other topics.
This document contains presentations held at the event, along with additional readings that led to the development of the conference.
The document provides an overview of regional hedge fund investors in the United States. It describes the types of investors and their preferences in the Northeast around New York, Connecticut and Massachusetts. It then discusses investors on the West Coast in California and the Pacific Northwest, as well as groups in the Mid-Atlantic, Midwest, and other parts of the country. Overall the document finds that the largest concentrations of investors are in New York, Boston, and San Francisco, with a mix of large pensions, endowments, funds of funds, family offices, and foundations. Appetite is generally strongest for equity long/short and fundamental strategies.
13 hartford funds a different perspective123jumpad
This document summarizes Wellington Management's distinctive investment approach as the sub-adviser to Hartford Funds. It highlights Wellington Management's global collaboration across 12 offices worldwide, specialized research conducted by over 591 investment professionals, and private partnership structure which helps attract and retain talent. Wellington Management focuses on managing assets for institutions located around the world through specialized research, a global collaborative culture, and expertise across asset classes.
The document discusses success with venture capital and angel investors. It provides an outline on the basics of the investor market, types of venture capital and angel investors, and what investors want. Examples are given of successful companies that received venture capital funding, including brief descriptions of the companies and their founders. The presentation aims to help audiences understand how to find and appeal to venture capital and angel investors.
ENTR4800 Class 5 (Part 2): Financing Considerations for Social EnterprisesSocial Entrepreneurship
This document summarizes a class on financing options for social enterprises. It discusses:
1) Different financing options for social enterprises depending on their stage of development, ranging from grants to equity investments.
2) Factors that social investors consider, including the social benefits, management experience, a clear business proposal demonstrating financial sustainability, and capacity for financial oversight.
3) Specific criteria used by the Canadian Alternative Investment Co-op, an impact investment fund, focusing on the request amount, repayment terms, collateral, business case, risk mitigation, financial statements, and management practices.
The document outlines the objectives and strategy for an investor relations role at MIG Absolute Return LLC. The objectives include maintaining and expanding existing investor relationships, diversifying and growing assets under management, and refining investor relations infrastructure. The strategy involves developing marketing materials, leveraging relationships to arrange meetings, identifying coverage teams, and conducting roadshows in major cities to target different investor types like family offices and pensions.
Angel investors and
entrepreneurs. Its objective would be to help lucrative, reasonable and pleasant relationships
between entrepreneurs and angels.
After being an energetic angel investor for around fifteen decades, many investors recognized
that lots of the conversations they were involved with were practically just like types they
would had often before.
Center for entrepreneurial studies nasf 2-12-2010NASF
A presentation on entrepreneurship by Lisa Sweeney, Center for entrepreneurial Studies (Stanford School of Business). Meeting held as part of the NASF (www.nasf.es) trip to Silicon Valley
inSight Solutions Advisory is a boutique advisory firm focused on corporate development, market entry, investment analysis, and innovation ventures in East Africa. It has offices in New York and Addis Ababa, Ethiopia. The firm utilizes its "Enter | Learn | Grow | Gain" framework to help clients in sectors like ICT, finance, tourism, infrastructure, and real estate. inSight aims to become a leading advisory firm in Ethiopia and East Africa through strategic partnerships and equity investments of up to $100 million.
Exploring New Opportunities and Diversification Strategies in Alternative Investments - Presentation delivered by Cynthia G. Koury, Partner and Senior Vice President, CM Wealth Advisors at the marcus evans Private Wealth Management Summit Fall 2014 in Las Vegas.
Corrine Figueredo on Cleantech InvestinginfoDevSlides
The document discusses how the International Finance Corporation (IFC) promotes sustainable economic development and poverty reduction in developing countries by supporting cleaner technologies. The IFC uses various tools across the innovation chain, from product R&D to mass market deployment, including debt, equity, private equity funds, direct venture investing, carbon finance, advisory services, and concessional finance. It also uses early stage funding, capital cost buy downs, catalyzing product standards, convening suppliers and investors, consumer demand mapping, and risk sharing facilities to support private investment in clean technologies.
Hedge funds originated as a vehicle to help diversify investment portfolios, manage risk and produce reliable returns over time. While hedge funds’ investor base has evolved over the years – from individuals to institutions such as pensions, universities and foundations – their core goals have not.
This presentation provides a brief overview of the investment approach hedge funds offer their partners.
It also illustrates the many ways hedge fund investments benefit communities and individuals.
Learn more about the global hedge fund industry at: www.hedgefundfundamentals.com.
Financing Business for Kingdom Impact by Louis RossouwThe Kingdom Summit
This document discusses various sources of funding for businesses, including:
1. Personal funds, family, friends, colleagues, clients, angel investors, grants, loans, agencies, crowdfunding, and international investors.
2. "Impact investing" aims to generate both financial return and measurable social/environmental impact. "Kingdom impact investing" has 7 drivers: financial performance, business growth, productivity gains, risk mitigation, innovation, collaboration, and societal transformation.
3. A "Kingdom Collaborative Model" brings together businesses, investors, incubators/accelerators, and transformations to create value through partnerships and impact across various scales from individual communities to continents.
Are you thinking about what you need to fund your company? Where do you start? Funding is not “one size fits all”. Every company has to approach their pathway to funding with a unique approach. Join our fundraising experts for an in-depth discussion of what options you have for funding and how to decide which paths are right for you and your company. Topics covered will include investment criteria, time to closing, investment range, success rates, control features, compliance requirements and the overall costs of capital from each such source.
Jean Hammond – LearnLaunchX, LearnLaunch.org, Hub Angels, Launchpad Venture Group, Golden Seeds
Robert Bishop - Goodwin Procter
In partnership with:
Founders Workbench
Karoll Financial Group offers investment opportunities in Emerging Europe through various funds and strategies. Their Emerging Europe Opportunities strategy invests across stock markets in Central and Eastern Europe, the Baltics, and Balkans with the goal of outperforming benchmarks. The strategy is managed by an experienced team based in Sofia with in-depth knowledge of local markets. Karoll Capital also offers a high-growth exporters strategy focused on small and mid-cap industrial, outsourcing, and ICT companies in Emerging Europe benefiting from low costs and skilled labor. They aim to overcome barriers global investors face in the region through analytical tools and on-the-ground research.
World Economic Forum - Impact Investing, A Primer for Family Offices - 2014Shiv ognito
The goal of this report is to help family offices ask the right questions as they contemplate their path into impact investing. It is important to recognize that
impact investing may not suit all investors. There will be family offices which conclude impact investing is not appropriate at this stage for them.
This document discusses principles for effective partnering. It outlines the "7 C's of Partnering" which are necessary to absorb the risks of collaboration: Complementing Competencies, Character, Companionship (Culture), Collaboration Index, Collaboration Quotient, Capital, and Charis (Grace). It also notes that partnering across sectors like business, government, NGOs is important and developing pilots/prototypes. Partnering opportunities between Nigerian and South African businesses are mentioned. Finally, it introduces the "Kingdom Collaborative Model" as a framework.
The document provides information about upcoming Family Officer Summit events, including dates and locations. It discusses why the Family Officer Summit was created to be a forum dedicated to Family Officers and asset managers who want to invest in innovation through startups. The keys sections provides definitions and explanations of terms related to the roles of Family Officers and how they can invest in areas like startups, impact investing, co-investing, and more. The format section outlines the agenda and format of the summit, including speeches, startup pitches, group dynamics, meetings, and exhibition areas.
Hedge Fund Due Diligence: Resources to Help Investors Better Understand Their...HedgeFundFundamentals
In light of recent changes brought forth by the new rules adopted by the Securities and Exchange Commission (SEC) implementing the Jumpstart our Business Startups (JOBS) Act, this presentation is designed as an educational tool with basic information about who can invest in hedge funds as well as some potential red flags regarding investment fraud.
SDGs and the Future of Development Finance: Go Big, or Go HomeQueena Li
The document discusses financing development to achieve the UN Sustainable Development Goals (SDGs). It notes that the SDGs require development finance to "go big" by scaling up from billions to trillions. It distinguishes between "scale investors" like pension funds that need market structures to invest large amounts, and "catalytic investors" like governments and philanthropists that can take more risks. Canada can help by building on existing blended finance initiatives and reforming its development finance institution to take more risks and offer a broader range of instruments as a catalyst.
The partnership between hedge funds and university and college endowments continues to grow. For many educational institutions, hedge funds are an important tool used to diversify their portfolios, manage risk and produce reliable returns. Hedge fund investments help these institutions fund financial aid, scholarships, operations, research, academics and athletic programs.
Altavista Wealth Management provides comprehensive wealth management services through an SEC registered investment advisory firm and trust services in association with a nationally chartered bank. They offer personalized financial planning, portfolio management, and trust administration. Their goal is to help clients achieve their financial objectives through customized strategies while maintaining independence and unbiased advice.
Regulating the Islamic Financial ProductsBassel Nadim
Bassel Nadim is the Managing Director of Tanmia Capital Limited and has over 15 years of experience in management consulting focused on Islamic finance. This document discusses regulating Islamic financial products. It outlines various Islamic banking products like deposits, financing, and capital market instruments. It also discusses the standards setting and regulatory bodies for Islamic finance. The paper examines the sufficiency of current regulation and the expected role of professional bodies in further developing regulations.
Regulation changes in the South African hedge fund industry has created a liquid, well-regulated environment in which all investors can gain access to the diversification benefits that comes with including an alternative component to a traditional portfolio.
Sovereign Wealth Funds, Rankings and Asset allocations GloballyZiad K Abdelnour
A Sovereign Wealth Fund (SWF) is a state-owned investment fund composed of financial assets such as stocks, bonds, real estate, or other financial instruments funded by foreign exchange assets
This document provides an introduction to a course on microfinance. It outlines the topics to be covered in the first week, including an introduction to household financing and different approaches to accessing financing. The key mechanisms for providing financing are discussed, such as microfinance institutions, savings and credit groups, and money lenders. Different types of financial services like group lending, individual lending, and village banking models are also introduced. The primary goals of microfinance institutions are outlined as breadth and depth of outreach, length of outreach, positive impact, and creating sustainable local institutions. The outline provided indicates future weeks will focus on specific microfinance institutions, clients' experiences, and local investors in microfinance.
Center for entrepreneurial studies nasf 2-12-2010NASF
A presentation on entrepreneurship by Lisa Sweeney, Center for entrepreneurial Studies (Stanford School of Business). Meeting held as part of the NASF (www.nasf.es) trip to Silicon Valley
inSight Solutions Advisory is a boutique advisory firm focused on corporate development, market entry, investment analysis, and innovation ventures in East Africa. It has offices in New York and Addis Ababa, Ethiopia. The firm utilizes its "Enter | Learn | Grow | Gain" framework to help clients in sectors like ICT, finance, tourism, infrastructure, and real estate. inSight aims to become a leading advisory firm in Ethiopia and East Africa through strategic partnerships and equity investments of up to $100 million.
Exploring New Opportunities and Diversification Strategies in Alternative Investments - Presentation delivered by Cynthia G. Koury, Partner and Senior Vice President, CM Wealth Advisors at the marcus evans Private Wealth Management Summit Fall 2014 in Las Vegas.
Corrine Figueredo on Cleantech InvestinginfoDevSlides
The document discusses how the International Finance Corporation (IFC) promotes sustainable economic development and poverty reduction in developing countries by supporting cleaner technologies. The IFC uses various tools across the innovation chain, from product R&D to mass market deployment, including debt, equity, private equity funds, direct venture investing, carbon finance, advisory services, and concessional finance. It also uses early stage funding, capital cost buy downs, catalyzing product standards, convening suppliers and investors, consumer demand mapping, and risk sharing facilities to support private investment in clean technologies.
Hedge funds originated as a vehicle to help diversify investment portfolios, manage risk and produce reliable returns over time. While hedge funds’ investor base has evolved over the years – from individuals to institutions such as pensions, universities and foundations – their core goals have not.
This presentation provides a brief overview of the investment approach hedge funds offer their partners.
It also illustrates the many ways hedge fund investments benefit communities and individuals.
Learn more about the global hedge fund industry at: www.hedgefundfundamentals.com.
Financing Business for Kingdom Impact by Louis RossouwThe Kingdom Summit
This document discusses various sources of funding for businesses, including:
1. Personal funds, family, friends, colleagues, clients, angel investors, grants, loans, agencies, crowdfunding, and international investors.
2. "Impact investing" aims to generate both financial return and measurable social/environmental impact. "Kingdom impact investing" has 7 drivers: financial performance, business growth, productivity gains, risk mitigation, innovation, collaboration, and societal transformation.
3. A "Kingdom Collaborative Model" brings together businesses, investors, incubators/accelerators, and transformations to create value through partnerships and impact across various scales from individual communities to continents.
Are you thinking about what you need to fund your company? Where do you start? Funding is not “one size fits all”. Every company has to approach their pathway to funding with a unique approach. Join our fundraising experts for an in-depth discussion of what options you have for funding and how to decide which paths are right for you and your company. Topics covered will include investment criteria, time to closing, investment range, success rates, control features, compliance requirements and the overall costs of capital from each such source.
Jean Hammond – LearnLaunchX, LearnLaunch.org, Hub Angels, Launchpad Venture Group, Golden Seeds
Robert Bishop - Goodwin Procter
In partnership with:
Founders Workbench
Karoll Financial Group offers investment opportunities in Emerging Europe through various funds and strategies. Their Emerging Europe Opportunities strategy invests across stock markets in Central and Eastern Europe, the Baltics, and Balkans with the goal of outperforming benchmarks. The strategy is managed by an experienced team based in Sofia with in-depth knowledge of local markets. Karoll Capital also offers a high-growth exporters strategy focused on small and mid-cap industrial, outsourcing, and ICT companies in Emerging Europe benefiting from low costs and skilled labor. They aim to overcome barriers global investors face in the region through analytical tools and on-the-ground research.
World Economic Forum - Impact Investing, A Primer for Family Offices - 2014Shiv ognito
The goal of this report is to help family offices ask the right questions as they contemplate their path into impact investing. It is important to recognize that
impact investing may not suit all investors. There will be family offices which conclude impact investing is not appropriate at this stage for them.
This document discusses principles for effective partnering. It outlines the "7 C's of Partnering" which are necessary to absorb the risks of collaboration: Complementing Competencies, Character, Companionship (Culture), Collaboration Index, Collaboration Quotient, Capital, and Charis (Grace). It also notes that partnering across sectors like business, government, NGOs is important and developing pilots/prototypes. Partnering opportunities between Nigerian and South African businesses are mentioned. Finally, it introduces the "Kingdom Collaborative Model" as a framework.
The document provides information about upcoming Family Officer Summit events, including dates and locations. It discusses why the Family Officer Summit was created to be a forum dedicated to Family Officers and asset managers who want to invest in innovation through startups. The keys sections provides definitions and explanations of terms related to the roles of Family Officers and how they can invest in areas like startups, impact investing, co-investing, and more. The format section outlines the agenda and format of the summit, including speeches, startup pitches, group dynamics, meetings, and exhibition areas.
Hedge Fund Due Diligence: Resources to Help Investors Better Understand Their...HedgeFundFundamentals
In light of recent changes brought forth by the new rules adopted by the Securities and Exchange Commission (SEC) implementing the Jumpstart our Business Startups (JOBS) Act, this presentation is designed as an educational tool with basic information about who can invest in hedge funds as well as some potential red flags regarding investment fraud.
SDGs and the Future of Development Finance: Go Big, or Go HomeQueena Li
The document discusses financing development to achieve the UN Sustainable Development Goals (SDGs). It notes that the SDGs require development finance to "go big" by scaling up from billions to trillions. It distinguishes between "scale investors" like pension funds that need market structures to invest large amounts, and "catalytic investors" like governments and philanthropists that can take more risks. Canada can help by building on existing blended finance initiatives and reforming its development finance institution to take more risks and offer a broader range of instruments as a catalyst.
The partnership between hedge funds and university and college endowments continues to grow. For many educational institutions, hedge funds are an important tool used to diversify their portfolios, manage risk and produce reliable returns. Hedge fund investments help these institutions fund financial aid, scholarships, operations, research, academics and athletic programs.
Altavista Wealth Management provides comprehensive wealth management services through an SEC registered investment advisory firm and trust services in association with a nationally chartered bank. They offer personalized financial planning, portfolio management, and trust administration. Their goal is to help clients achieve their financial objectives through customized strategies while maintaining independence and unbiased advice.
Regulating the Islamic Financial ProductsBassel Nadim
Bassel Nadim is the Managing Director of Tanmia Capital Limited and has over 15 years of experience in management consulting focused on Islamic finance. This document discusses regulating Islamic financial products. It outlines various Islamic banking products like deposits, financing, and capital market instruments. It also discusses the standards setting and regulatory bodies for Islamic finance. The paper examines the sufficiency of current regulation and the expected role of professional bodies in further developing regulations.
Regulation changes in the South African hedge fund industry has created a liquid, well-regulated environment in which all investors can gain access to the diversification benefits that comes with including an alternative component to a traditional portfolio.
Sovereign Wealth Funds, Rankings and Asset allocations GloballyZiad K Abdelnour
A Sovereign Wealth Fund (SWF) is a state-owned investment fund composed of financial assets such as stocks, bonds, real estate, or other financial instruments funded by foreign exchange assets
This document provides an introduction to a course on microfinance. It outlines the topics to be covered in the first week, including an introduction to household financing and different approaches to accessing financing. The key mechanisms for providing financing are discussed, such as microfinance institutions, savings and credit groups, and money lenders. Different types of financial services like group lending, individual lending, and village banking models are also introduced. The primary goals of microfinance institutions are outlined as breadth and depth of outreach, length of outreach, positive impact, and creating sustainable local institutions. The outline provided indicates future weeks will focus on specific microfinance institutions, clients' experiences, and local investors in microfinance.
Mrs. Israel, an unemployed woman with 4 children, wants to start a small catering business but is denied a loan from her bank. The lecture introduces microfinance as an alternative that provides financial services to low-income individuals excluded from traditional banking. Microfinance institutions (MFIs) offer small, short-term loans along with financial education to help people start businesses. MFIs rely on practices like group lending, regular repayments, and interest to cover costs in order to be sustainable and continue providing services over time. Today, over 10,000 MFIs serve around 150 million microcredit clients globally.
Microfinance provides financial services like credit, savings, and insurance to low-income individuals who lack access to traditional banking services. These services allow people to build wealth and smooth consumption without relying on predatory lenders. While microfinance has helped many individuals, some debates questions whether it can provide a long-term solution to poverty at large scales. Bateman argues it may divert funds from small businesses, while Karnani believes employment and productivity are more important for reducing poverty than microfinance alone. Implementing microfinance also faces challenges like high costs, low education levels, and a lack of infrastructure in some areas. Overall, microfinance has shown some success but may be only part of the solution and not sustainable in all
Sovereign wealth funds have become significant global investors, with assets totaling $2-3 trillion. As their assets continue growing, some funds could rival the largest private asset managers. However, sovereign wealth funds also raise policy issues around lack of transparency and potential distortions in asset prices from non-commercial investment decisions. Whether sovereign wealth funds positively or negatively impact global financial stability depends on whether their investment decisions are fully motivated by returns and risks or influenced by non-commercial objectives.
Microfinance provides financial services to low-income individuals who lack access to traditional banking services. It began in the 1970s when Muhammad Yunus pioneered the concept of lending small amounts to groups of poor women in Bangladesh without collateral. This joint liability model produced very high repayment rates. Yunus went on to establish Grameen Bank based on this group lending approach. Microfinance has since expanded globally and within India, supported by the establishment of organizations like NABARD, SEWA, and SIDBI to promote self-help groups and connect them to banking institutions.
Presentation includes Introduction to Microfinance Industry, Business Process, Strategies, Key Challenges, Future Outlook and Special Issues like Urban Microfinance & Rating of Microfinance Institutions
Sovereign Wealth Funds, Capacity Building, Development, and Governance Larry Catá Backer
Abstract: Though operating in some form or another for over half a century, sovereign wealth funds (SWFs) did not become an object of general attention until the early part of the 21st century when a combination of the need of developed states for investment and the growing acceptability of state investment in private markets abroad made them both threatening and convenient. Assured by the framework of the Santiago Principles most states now view SWFs as a useful multi-purpose sovereign investment vehicle. Yet over the last decade or so, SWFs appear to have developed the potential to become an important instrument in good governance and development, especially for resource rich and capacity poor developing states. Following the lead of Chile, and with the patronage of IFIs, these SWFs have begun to serve objectives as and with development banks both within and beyond their home state. This paper considers the capacity of SWFs to serve ends beyond mere fund value maximization as envisioned in the Santiago Principles. It explores the value of SWFs as a means of enhancing governance capacity in weaker states, its utility in enhancing development objectives, the emerging landscape of joint ventures among SWFs for development and their intersections with emerging infrastructure and development banks, and their importance in enhancing the operationalization of emerging international business and human rights standards not only within their own organizations but through their investment activities. A brief assessment of these trends ends the paper. Lastly it develops a set of transformative changes in approaches to SWF instrumentality that SWFs, especially the smaller SWFs and those in developing states, might deploy in structuring and operating their SWFs within a globalized economic order. These strategies are meant to avoid the circular characteristics of current discussions grounded on premises of finance instrument silos and state based systems that no longer accord with the realities of, and fail to take advantage of the possibilities now offered through, global finance and can be grouped into the three transforming categories suggested in Section III: regionalization strategies; financial objectives strategies; governance strategies.
The role of private finance in developmentSusana Sereno
- Private finance in the form of foreign direct investment, bank loans, capital markets, and domestic markets is needed to achieve development goals due to the scale of financing required.
- Private finance is driven by risk and return, unlike public finance, and requires a supportive investment climate and macroeconomic stability from governments and MDBs.
- Innovative financing models like blended finance that combine public and private funds can increase development funding and make more projects viable.
Sovereign Wealth Funds, Cross-border investment and Institutions: Are Arab Co...Economic Research Forum
Ibrahim Elbadawi - Economic Research Forum
Raimundo Soto - Catholic University of Chile
Chahir Zaki - Cairo University
ERF Conference on “Arab Oil Exporters: Coping with a New Global Oil Order”
Kuwait, November 26-27, 2017
www.erf.org.eg
The document outlines the agenda for a two-day advisory board meeting focusing on investment strategies and opportunities for Illinois public pension funds. Day 1 covers topics such as pension consolidation, infrastructure investing, asset allocation, commodities, fixed income, real estate, US equities and volatility. Day 2 focuses on consultants roundtable, distressed investing, hedge funds vs funds of funds, emerging managers, and socially responsible investing (SRI) with a session on energy opportunities. The agenda provides a forum for discussing current economic conditions, portfolio positioning, and innovative investment approaches.
21st Century Strategies for Financial InclusionJon Gosier
The wealth of black american households was decimated in 2008. This white paper outlines a strategy on how to structure new instruments for investment for black americans and other minority communities.
Promoting FDI in fragile and conflict-affected situations (FCS) Strategies f...OECDglobal
Promoting FDI in fragile and conflict-affected situations (FCS) Strategies for Iraq
Peter Davis, Private Sector Development Expert
Gassia Assadourian, Policy Analyst, OECD
16 February 2015, Paris, France
Promoting FDI in Fragile and Conflict-Affected SituationsOECDglobal
16 February – Project Working Group? Paris, France
Thematic session I: Promoting Investment in Iraq: Lessons from other fragile and conflict-affected situations (FCS)
Peter DAVIS, Private Sector Development Expert, Visiting Research Fellow, Birkbeck College, University of London and Gassia ASSADOURIAN, Policy Analyst, Global Relations Secretariat, OECD
What is Global Economy? Characteristics andjeromealer2
The document defines and discusses key concepts related to the global economy, including globalization, market integration, and the roles of international financial institutions and global corporations. It notes that the global economy refers to the international exchange of goods, services, capital, technology, and information. International financial institutions like the IMF and World Bank help facilitate globalization by providing loans to developing countries and cutting trade barriers. Global corporations operate across national borders to gain economies of scale but are governed by the laws of their home country.
Private equity has experienced significant growth and now manages nearly $4 trillion in assets globally, surpassing the hedge fund industry. This is driven by private equity's strong long-term returns compared to public markets, as well as the low interest rate environment prompting other investors to consider private equity. Family offices and high-net-worth individuals are increasingly allocating a larger portion of their portfolios to private equity. While private equity remains challenging for smaller investors due to high minimums and illiquidity, new funds-of-funds and secondary market solutions are making private equity more accessible to high-net-worth individuals.
A portfolio is a Frame of financial assets such as stocks, bonds, commodities, currencies and cash equivalents including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly tradable securities, like real estate, art, and private investments.
Investors should construct an investment portfolio in accordance with their risk tolerance and investing objectives. Securities can be used to build a diversified portfolio, but stocks, bonds, and cash are generally considered a portfolio's core building blocks.
The asset owners demonstrate a sound and considerable investment strategy to Environmental, Social and Governance (ESG) to maximize the long-term investment and better manage of Risk.
The asset owner strategies are required to focus on managing ESG-risks, seeking sustainable investment opportunities to create good financial returns and contribute to solutions for major problems in our global society.
The document provides information about the Lakeshore International Buyout Fund (LIBF), including:
1) The LIBF focuses on investing in undervalued assets in Russia and the CIS through acquisitions and consolidations to achieve superior returns.
2) The fund manager believes the current market environment provides significant opportunities to acquire assets at discounted prices and generate annualized returns of 30% over 2-3 years.
3) The fund will follow a conservative investment strategy, focusing on industries it has expertise in and using a disciplined process for investment selection and risk management.
The document provides an overview of the evolution of international monetary systems from bimetallism to the modern system. It discusses how bimetallism used both gold and silver standards until the late 1800s, but countries eventually moved to single gold or silver standards. It then explains how the Bretton Woods system established the US dollar as the dominant currency pegged to gold in the mid-1900s. Growing US deficits and inflation led to the system's collapse in the 1970s. The current system involves floating exchange rates between most currencies and the IMF helps oversee global currency stability.
This document proposes a partnership between Co-Win Venture Resources, a Chinese co-investment firm, and a U.S. partner. It outlines opportunities for recruiting Chinese investors, establishing a co-investment fund focused on U.S. companies expanding into China, and leveraging each partner's strengths to support portfolio companies. Challenges recruiting Chinese clients and finding cross-border investment opportunities are also discussed. An action plan is proposed to further discuss partnership details and opportunities beyond the co-investment fund.
This document discusses IFC operations and strategy in Iraq. It provides an overview of IFC activities in Iraq, including $700 million committed to 6 companies/projects. IFC's strategy in Iraq centers around diversifying the economy away from oil, strengthening institutions, developing a favorable business environment, and strengthening private sector growth. Some challenges facing investors in Iraq include poor legal/regulatory frameworks, lack of transparency, and unreliable dispute resolution mechanisms.
This is a development finance strategy for the youths in Sub Saharan Africa. It basically shows how the growing population of youths in the region can be optimised to grow the economy of the countries. Furthermore, it is important to note that the positive spill over effects of the strategy is enormous in achieving the objectives of the Sustainable development goals.
Using Crowd-Centric Alternative Assets to Enhance Portfolio YieldDara Albright
The FinTech revolution continues to inspire a great deal of retail financial product ingenuity - just as the regulatory winds are increasingly shifting in favor of the retail investor. The confluence of these two events is helping reshape the financial services industry. This presentations explores this transformation in financial services and shows how financial advisors can capitalize on this micro alternative investing trend while maintaining fiduciary responsibility to his retail clientele.
Investment products vary in risk, return and duration. So do investor objectives. Successfully matching financial instruments with financial plans takes skill, know how and ability.
DarcMatter_South Korean Institutional Investor PrimerSang H. Lee
South Korean institutional investors such as pension funds, insurance companies, and sovereign wealth funds have been increasingly allocating to alternative assets such as private equity, real estate, and infrastructure. Direct deals and private fund investments in developed overseas markets like the US, Europe, and Australia have been high areas of demand. Brokerage firms in South Korea have also been actively involved in arranging overseas transactions between $50-$500mm for these institutional investors.
Similar to Sovereign Development Funds - IFSWF - Kalytix Partners - 2014 (20)
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
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Enhancing Asset Quality: Strategies for Financial Institutionsshruti1menon2
Ensuring robust asset quality is not just a mere aspect but a critical cornerstone for the stability and success of financial institutions worldwide. It serves as the bedrock upon which profitability is built and investor confidence is sustained. Therefore, in this presentation, we delve into a comprehensive exploration of strategies that can aid financial institutions in achieving and maintaining superior asset quality.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
2. OVERVIEW!
• Sovereign wealth funds are maturing (sophistication)
• They face new challenges compared to 10-20 years ago
• More is expected from sovereign funds (emerging realities)
• Equally, there are new opportunities on the horizon.
3. SOVEREIGN WEALTH FUNDS (over the past decade)!
• Have become more important in the global economy
• Have strengthened their governance and management
• Have extended their reach, deepening skills and expertise
• Have demonstrated their value to nation-state sponsors.
4. MY PRESENTATION!
• Situates sovereign funds in a changing world
• Indicates how and why sovereign development funds are emerging
• Identifies the advantages enjoyed by SDFs, and
• Closes on the importance of high quality governance and management.
5. EMERGING REALITIES I!
• A slowing rate of global economic growth
• The resources super-cycle appears to be over
• Emerging markets are increasingly volatile and vulnerable
• Financial crises ‘loom’ in certain countries and regions.
6. EMERGING REALITIES II!
• European economic growth is faltering (deflation)
• Attenuated by US and UK growth (in the short term)
• Amplified by geopolitical risk and uncertainty
• Compare Figure 1 with Figure 2.
9. EMERGING REALITIES III!
• Banking systems remain fragile
• Focus is upon solvency with respect to another potential financial crisis
• There is increasing scrutiny of lending practices by regulators
• Resulting in a credit squeeze, even credit crises in some regions and countries.
10. EMERGING REALITIES IV!
• Matched by nation-state indebtedness
• Reduced the fiscal capacity and policy flexibility
• Over-reliance upon monetary policy (QE1, QE2, etc.)
• Notwithstanding the urgent need to invest in the future,!
e.g. infrastructure, innovation, education, and development.
11. SWF INVESTMENT STRATEGIES I!
• By convention, SWFs are global portfolio managers
• Outsourcing investment management and execution to service providers
• Reliant upon global financial markets
• Often investing in offshore opportunities via traded and un-traded investment!
products.
12. SWF INVESTMENT STRATEGIES II!
• The global financial crisis profoundly disrupted confidence in this model
• Prompting greater control and oversight of the investment value-chain
• Accelerating commitment to the in-sourcing of investment management!
(by asset class, geography, etc.) and
• The deepening of in-house skills and expertise.
13. SWF INVESTMENT STRATEGIES III!
• Hence, the search for different types of investment opportunities!
(e.g. untraded products and projects)
• And the search for different ways of investing!
(e.g. through peer-based cooperation and collaboration)
• While rewriting contracts with external providers
• Made possible by the size and scope of the larger SWFs.
14. SWF INVESTMENT STRATEGIES IV!
• There were (and are) exceptions
• Some sovereign funds have focused on project-based investment
• Being reliant upon internal expertise, longer-term partnership etc.
• Benchmarked against long-term investment return targets, !
outside of financial markets.
15. SOVEREIGN DEVELOPMENT FUNDS I!
• It is obvious that many nation-state governments are fiscally constrained!
(and will remain so)
• But economic growth is at a premium!
(e.g. employment, income and innovation)
• E.g.: the UK government has sought to encourage private investment in!
infrastructure.
16. SOVEREIGN DEVELOPMENT FUNDS II!
• Project finance via banks and related global financial institutions is declining!
(in relative terms) and comes at a higher price
• In any event, nation-states have become wary of banks that are!
“too big to fail”
• Inevitably, national governments have turned their attention to sovereign funds!
and other related institutions to fill the gap
• Can they help?
17. SOVEREIGN DEVELOPMENT FUNDS III!
• Many sovereign funds are centres of (scarce) national financial expertise
• Have risk and return cultures very different from national central banks
• Have skills and expertise with global credibility consistent with building and!
maintaining investment partnerships
• Staffed by ‘nationals’ returning from overseas with relevant education and!
professional experience.
18. SOVEREIGN DEVELOPMENT FUNDS IV!
• Like SWFs, SDFs are storehouses of national wealth
• Like SWFs, SDFs have investment goals and objectives
• Unlike SWFs, SDFs tend to invest locally and regionally rather than globally
• Unlike SWFs, SDFs view investment and development as synonymous.
19. ADVANTAGES OF SDFs I!
• There can be a premium on local knowledge!
(recognised in the academic literature)
• Which is especially important when investing over the long term
• Where locking-in a local advantage can provide predictable long-term returns
• Especially when the sovereign fund is a patient investor rather than a portfolio!
investor.
20. ADVANTAGES OF SDFs II!
• There can be a premium on local control over the investment process
• Reordering relationships between sovereign funds and service providers!
and co-investors
• Setting the terms for the flow of commitments and the flow returns over the!
short term and long term
• Facilitating close ties between sovereign funds and global investment institutions!
with similar goals and objectives.
21. ADVANTAGES OF SDFs III!
• Local investing, patient investing, and control over the investment process !
can enable collateral returns!
(e.g. property development around a key infrastructure project)
• Especially important in circumstances where development is clustered in nodes!
of innovation and human capital
• Sustaining superior investment rates of return through the positive externalities!
of development
• Thereby underwriting the legitimacy of sovereign funds in civil society.
23. SDF CATEGORIES!
Reinforcing
Professionalizing and
reorganizing the existing
SOEs and national
champions for success
Catalytic
Diversifying old
industries by seeding
new ones
Crowding-In
Through credible
commercial focus, attract
foreign investors into
domestic industries.
Financialization
Through credible
commercial focus, bring
discipline and
commerciality to domestic
industries
Tight
Link to National
Endowments &
Advantages!
Sovereign Development Fund Type Objectives!
Loose
Strategic
Commercial
24. SDF SUCCESS FACTORS I!
Based on our research, we’ve found the following criteria are important in!
SDF success:
• Commercial Orientation!
The new vehicle should have a clear, commercial mandate that will guide the management team’s
decision-making and help other investors understand and relate to its mission.
• Governance!
The SDF must have robust governance that can stand up to foreign due diligence. It this fund is going
to originate deals and bring co-investors alongside, it will have to!
• Local Access!
The SDF must be able to source, assess, structure, and de-risk (as appropriate) the investment
opportunities in a credible way.
25. SDF SUCCESS FACTORS II!
• Top Talent!
It’s crucial that the individuals running SDFs be of the highest standing and, ideally, that they have a
investment track record to back it up.
• Local Voice!
SDF should provide a point of contact for international investors to make their voices heard among
the local agents and actors.
• De-Risking!
In certain circumstances, it may be necessary for the SDF to be in a ‘first loss’ position with certain
guarantees around local risks.
• Clarity of Mission!
The “financial” component of the SDF can generally handle developmental constraints so long as they
are very well defined.
26. SOME THINGS SDFs SHOULD AVOID…!
• Deadweight Loss!
SDFs should avoid doing things that either the government or the free market would do on their own.
If impact dollars are there to be catalysts, there’s really no social or environmental value in catalyzing
something that would have happened anyway.
• Unintended Consequences!
SDFs should learn from the failures of government and capitalism and try not to make short-term
decisions that lead to long-term problems. It’s a relatively simple concept that warrants lots of
scenario planning.
• ‘Bridges to Nowhere’!
Development-orientation is not an excuse for a lack of rigor in investments. In fact, if you’re going to
try use financial markets to drive extra-financial benefits… you need to more rigorous and savvy than
the average investor. Or, at the very least, you better understand your strengths and weaknesses very
well.
27. LOOKING FORWARD I!
• SWFs are likely to become hybrid organisations
• Combining portfolio investment with project finance
• Leading consortiums of like-minded institutions (local and global)
• Stepping into the gap left by banks and governments.
28. LOOKING FORWARD II!
• SDFs are growing in number and in significance
• Perhaps the next generation of sovereign funds
• With similar functions, if not the same institution form
• Being a storehouse of national wealth, and a means of enhancing long-term
well-being.
29. LOOKING FORWARD III!
• Some SDFs will succeed, reinforcing the strength and coherence of civil society
• Some SDFs will fail because of the mismatch between the interests of political
elites and the expertise of sovereign financial institutions
• Some SDFs will sustain their integrity by a public role in their societies
• Some SDFs will align with the “national interest”, thereby insulating themselves
from the short-termism apparent in partisan politics.
30. RELATED ACADEMIC PUBLICATIONS!
• Clark, G.L. 2014.!
Information, knowledge, and investing in offshore financial markets.!
Journal of Sustainable Finance & Investment (forthcoming).
• Clark, G.L., Dixon, A.D. and Monk, A.H.B. 2013.!
Sovereign Wealth Funds: Legitimacy, Governance, and Global Power.!
Princeton: Princeton University Press.
• Clark, G.L. and Monk, A.H.B. 2013.!
The scope of financial institutions: in-sourcing, outsourcing and off-shoring.!
Journal of Economic Geography, 13(2): 279-298
• Dixon, A.D. and Monk A.H.B. 2014.!
Financialising development: towards a sympathetic critique of Sovereign Development Funds.!
Journal of Sustainable Finance & Investment (forthcoming)