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By Sudip Roy
State-owned, cash-rich and increasingly influential, sovereign wealth funds have emerged as the most controversial players in the financial markets. All the constituents – banks, private equity, corporates, hedge funds – want a slice of their action. Just how powerful will the funds become?
It is one thing to want a sovereign wealth fund but to actually set one up is a long and challenging process.
Financial institutions weigh up the opportunities
The proliferation of sovereign wealth funds is an opportunity and challenge for investment banks and asset managers. The opportunity is clear: potential business.
Fight on for Aussie’s future prizes
The Future Fund, created last year to cover long-term pension liabilities for the Australian federal public sector, is very much in its infancy but is finally managing money.
In a world of increasingly powerful and mistrusted sovereign wealth funds, Temasek, the investment arm of the Singapore state, stands apart in terms of governance, openness and performance, claims Simon Israel, its executive director.
The US bank recovered from a similar crisis in the early 1990s.