The Strategic Logics of State Investment Funds in Asia: Beyond Financialisation

Figures & data

Table 1. The Form and Function of Sovereign Wealth Funds

Function	Investment Objective	Strategic Asset Allocation	Examples
Savings	Inter-generational Equity	Globally diversified portfolio (long-term investment horizon)	Norway GPF-GAustralia Future FundUAE ADIAQatar Investment Authority
Precautionary	Stabilisation (namely of resource revenues)	Liquid assets with short- to medium-term investment horizon	Chile FEESMexico FMPKiribati RERF
“Buffer”	Manage absorbtive capacity of economy from large foreign exchange inflows	Capital preservation, liquidity, with short- to medium-term investment horizon	China SAFESingapore GIC
Development/Strategic	Contribute to development and modernisation of economy and sectors deemed strategic to long-term economic interests of the country	Direct long-term investments in local assets and investment projects; exercise ownership rights to influence management of invested firms	Rwanda Agaciro Development FundSenegal FONSISIreland Strategic Inv. FundMorocco Ithmar CapitalRussia Direct Investment Fund

Source: Author’s compilation