Euromoney, is part of the Delinian Group, Delinian Limited, 8 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2023
Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Older and wiser: How sovereign wealth has responded to Covid-19

It could be argued Covid-19 is the moment sovereign wealth funds were made for: a shocking disruption to national economies that calls for a stable, patiently invested buffer. Sovereign fund reactions have been varied, from drawdowns to contrarian investments, from domestic backstop deals to attempts to be directly involved in developing vaccines. But they’re all bigger, shrewder and hopefully smarter than they were during the GFC.

owl-great-horned-istock-960.jpg

Rainy days are unpredictable. You don’t know when they will come, how bad they will be or how long they will last. The only thing you do know for sure is that they’re coming.

Countries build sovereign wealth funds for these rainy days and it is hard to imagine a time more suited to their raison d’etre than right now – a global pandemic, unexpected and unique, its duration and behaviour unclear, combined with a shutdown of global economies, a curtailment of international travel and therefore much of the world’s trade.

A

Tags

Chris Wright head.jpg
Asia editor Euromoney
Contact
Chris Wright is Asia editor. He covers the Asia Pacific region and is based in Singapore. He has previously been Middle East editor of Euromoney, editor of Asiamoney, investment editor of the Australian Financial Review and a correspondent on emerging markets and sovereign wealth for numerous publications worldwide. He has also written two books.