Are Sovereign Wealth Fund Investments Politically Biased? Comparing Mutual and Sovereign Funds

5 Pages Posted: 30 Jan 2010

See all articles by Rolando Avendano

Rolando Avendano

Asian Development Bank

Javier Santiso

ESADE Business School

Date Written: January 1, 2010

Abstract

Are sovereign wealth funds substantially different in their investment choices from other types of institutional investor? Comparing the holdings of two groups of sovereign and mutual funds, we find few differences. Our study also introduces a new dimension: the political regime in sending and recipient countries. Again, evidence suggests that both sovereign and mutual funds’ investments do not differ when looking at the political profile of targeted countries.

Keywords: sovereign wealth fund, mutual fund, asset allocation, political bias

JEL Classification: F21, G11, G18, O57

Suggested Citation

Avendano, Rolando and Santiso, Javier, Are Sovereign Wealth Fund Investments Politically Biased? Comparing Mutual and Sovereign Funds (January 1, 2010). Available at SSRN: https://ssrn.com/abstract=1544496 or http://dx.doi.org/10.2139/ssrn.1544496

Rolando Avendano

Asian Development Bank ( email )

6 ADB Avenue, Mandaluyong City 1550
Metro Manila
Philippines

Javier Santiso (Contact Author)

ESADE Business School ( email )

Mateo Inurria 27
Madrid, 28036
Spain

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