THE ASSESSMENT OF THE INVESTMENT EFFICIENCY OF RUSSIAN SOVEREIGN WEALTH FUNDS
The activity of Russian sovereign wealth funds draws special attention of the international investment community due to the scale and social and economic significance of their investments. The need in the objective assessment of the investment efficiency of sovereign wealth funds arose as early as a...
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| Format: | Article |
| Language: | Russian |
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Government of the Russian Federation, Financial University
2017-10-01
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| Series: | Финансы: теория и практика |
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| Online Access: | https://financetp.fa.ru/jour/article/view/31 |
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| author | Ye. A. Vasin |
| author_facet | Ye. A. Vasin |
| author_sort | Ye. A. Vasin |
| collection | DOAJ |
| description | The activity of Russian sovereign wealth funds draws special attention of the international investment community due to the scale and social and economic significance of their investments. The need in the objective assessment of the investment efficiency of sovereign wealth funds arose as early as at the time of establishment in Russia of the first sovereign fund. This article presents the results of the analysis of investment policy statements of such funds, as well as an assessment of the investment efficiency of Russian sovereign wealth funds according to the criterion of investment returns maximization at an acceptable risk level. The analysis of the investment efficiency of the Russian Federation Stabilization Fund, the Reserve Fund and the National Welfare Fund was carried out by the author using state-of-the-art investment evaluation methods such as the investment portfolio benchmarking, VaR analysis. The analysis revealed a number of flaws in the current organizational structure of sovereign fund management as well as factors retarding the effective fund value growth. Based on the results obtained, a set of organizational and methodological measures was proposed to increase the investment efficiency of the Reserve Fund and the National Welfare Fund |
| format | Article |
| id | doaj-art-e609ae06ab9b48dd97d8d2ae4af68e48 |
| institution | Kabale University |
| issn | 2587-5671 2587-7089 |
| language | Russian |
| publishDate | 2017-10-01 |
| publisher | Government of the Russian Federation, Financial University |
| record_format | Article |
| series | Финансы: теория и практика |
| spelling | doaj-art-e609ae06ab9b48dd97d8d2ae4af68e482025-08-20T03:34:41ZrusGovernment of the Russian Federation, Financial UniversityФинансы: теория и практика2587-56712587-70892017-10-010115316610.26794/2587-5671-2014-0-1-153-16668THE ASSESSMENT OF THE INVESTMENT EFFICIENCY OF RUSSIAN SOVEREIGN WEALTH FUNDSYe. A. Vasin0the Financial universityThe activity of Russian sovereign wealth funds draws special attention of the international investment community due to the scale and social and economic significance of their investments. The need in the objective assessment of the investment efficiency of sovereign wealth funds arose as early as at the time of establishment in Russia of the first sovereign fund. This article presents the results of the analysis of investment policy statements of such funds, as well as an assessment of the investment efficiency of Russian sovereign wealth funds according to the criterion of investment returns maximization at an acceptable risk level. The analysis of the investment efficiency of the Russian Federation Stabilization Fund, the Reserve Fund and the National Welfare Fund was carried out by the author using state-of-the-art investment evaluation methods such as the investment portfolio benchmarking, VaR analysis. The analysis revealed a number of flaws in the current organizational structure of sovereign fund management as well as factors retarding the effective fund value growth. Based on the results obtained, a set of organizational and methodological measures was proposed to increase the investment efficiency of the Reserve Fund and the National Welfare Fundhttps://financetp.fa.ru/jour/article/view/31the stabilization fundthe reserve fundthe national welfare fundsovereign wealth fundinvestment policy statementinvestment efficiency assessmentsovereign wealth fund returnportfolio benchmark |
| spellingShingle | Ye. A. Vasin THE ASSESSMENT OF THE INVESTMENT EFFICIENCY OF RUSSIAN SOVEREIGN WEALTH FUNDS Финансы: теория и практика the stabilization fund the reserve fund the national welfare fund sovereign wealth fund investment policy statement investment efficiency assessment sovereign wealth fund return portfolio benchmark |
| title | THE ASSESSMENT OF THE INVESTMENT EFFICIENCY OF RUSSIAN SOVEREIGN WEALTH FUNDS |
| title_full | THE ASSESSMENT OF THE INVESTMENT EFFICIENCY OF RUSSIAN SOVEREIGN WEALTH FUNDS |
| title_fullStr | THE ASSESSMENT OF THE INVESTMENT EFFICIENCY OF RUSSIAN SOVEREIGN WEALTH FUNDS |
| title_full_unstemmed | THE ASSESSMENT OF THE INVESTMENT EFFICIENCY OF RUSSIAN SOVEREIGN WEALTH FUNDS |
| title_short | THE ASSESSMENT OF THE INVESTMENT EFFICIENCY OF RUSSIAN SOVEREIGN WEALTH FUNDS |
| title_sort | assessment of the investment efficiency of russian sovereign wealth funds |
| topic | the stabilization fund the reserve fund the national welfare fund sovereign wealth fund investment policy statement investment efficiency assessment sovereign wealth fund return portfolio benchmark |
| url | https://financetp.fa.ru/jour/article/view/31 |
| work_keys_str_mv | AT yeavasin theassessmentoftheinvestmentefficiencyofrussiansovereignwealthfunds AT yeavasin assessmentoftheinvestmentefficiencyofrussiansovereignwealthfunds |