MARKET OF FINANCIAL SERVICES

DYBA Mykhailo ¹, KRASNOVA Iryna ²

¹Kyiv National Economic University named after Vadym Hetman
OrcID ID : https://orcid.org/0000-0003-2007-9572
²SHEE "Kyiv National Ecomomic Universiry named after Vadym Hetman"

The scale of sovereign funds activity

The article covers the main aspects of sovereign wealth funds activity as public institutional investors participating in the international movement of capital. It is considered international approaches to defining the essence of sovereign funds, their characteristics and classification. Based on analysis of statistical data it is identified key trends across an activity and asset mana­gement of sovereign funds. The dynamics of volume and structure of investments of sovereign funds, the main tendencies and patterns are analyzed. It is indicated that increasing amounts of funds managed by sovereign wealth funds, transform them into valid institutional investors specialized on liquidity management in the global capital market. The basic problem aspects of sovereign funds are outlined, as well it is considered the strategic directions of sovereign wealth funds, leading to changes in the business model of their activity. The experience of the largest sovereign fund – the Norwegian Government Pension Fund Global (GPFG) is considered. The prospects of development of sovereign investment funds are determined.

Keywords: sovereign wealth funds, sovereign investment funds, financial stability, investment strategy, reserve funds.

JEL: G20, G23, G28.

DYBA M. . The scale of sovereign funds activity / M. . DYBA, I. . KRASNOVA // Фінанси України. - 2015. - № 1. - C. 59-78.