Singapore's sovereign wealth funds : the political risk of overseas investments
This paper seeks to examine Singapore's two sovereign wealth funds (SWFs)-the Government Investment Corporation of Singapore (GIC) and Temasek Holdings (Temasek)-and the political risks which they are exposed to in their overseas investments. We argue that Temasek has hitherto exposed itself t...
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| Format: | Working Paper |
| Language: | English |
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2009
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| Online Access: | https://hdl.handle.net/10356/104393 http://hdl.handle.net/10220/4542 |
| _version_ | 1826123488812859392 |
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| author | Wu, Friedrich |
| author2 | S. Rajaratnam School of International Studies |
| author_facet | S. Rajaratnam School of International Studies Wu, Friedrich |
| author_sort | Wu, Friedrich |
| collection | NTU |
| description | This paper seeks to examine Singapore's two sovereign wealth funds (SWFs)-the Government Investment Corporation of Singapore (GIC) and Temasek Holdings (Temasek)-and the political risks which they are exposed to in their overseas investments. We argue that Temasek has hitherto exposed itself to a greater level of political risk than GIC, but is in turn rewarded with a higher rate of returns on its investments. At the same time, we find that political risk is an inevitable challenge for SWFs in general. In fact, as worldwide opinion has turned towards demanding for greater transparency and accountability from SWFs, the political risks faced by SWFs have correspondingly risen. This paper seeks to throw some light on this issue by undertaking a case study of Singapore's two SWFs, which are consistently ranked among the global top 10 SWFs by assets, and have attracted much worldwide attention in recent times as a result of their politically-controversial overseas investments. |
| first_indexed | 2024-10-01T06:05:29Z |
| format | Working Paper |
| id | ntu-10356/104393 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T06:05:29Z |
| publishDate | 2009 |
| record_format | dspace |
| spelling | ntu-10356/1043932020-11-01T08:46:07Z Singapore's sovereign wealth funds : the political risk of overseas investments Wu, Friedrich S. Rajaratnam School of International Studies DRNTU::Social sciences::Economic development::Singapore This paper seeks to examine Singapore's two sovereign wealth funds (SWFs)-the Government Investment Corporation of Singapore (GIC) and Temasek Holdings (Temasek)-and the political risks which they are exposed to in their overseas investments. We argue that Temasek has hitherto exposed itself to a greater level of political risk than GIC, but is in turn rewarded with a higher rate of returns on its investments. At the same time, we find that political risk is an inevitable challenge for SWFs in general. In fact, as worldwide opinion has turned towards demanding for greater transparency and accountability from SWFs, the political risks faced by SWFs have correspondingly risen. This paper seeks to throw some light on this issue by undertaking a case study of Singapore's two SWFs, which are consistently ranked among the global top 10 SWFs by assets, and have attracted much worldwide attention in recent times as a result of their politically-controversial overseas investments. Accepted version 2009-03-12T01:01:19Z 2019-12-06T21:31:54Z 2009-03-12T01:01:19Z 2019-12-06T21:31:54Z 2008 2008 Working Paper Wu, F. (2008). Singapore's sovereign wealth funds : the political risk of overseas investments. (RSIS Working Paper, No. 166). Singapore: Nanyang Technological University. https://hdl.handle.net/10356/104393 http://hdl.handle.net/10220/4542 en RSIS Working Papers ; 166/08 39 p. application/pdf |
| spellingShingle | DRNTU::Social sciences::Economic development::Singapore Wu, Friedrich Singapore's sovereign wealth funds : the political risk of overseas investments |
| title | Singapore's sovereign wealth funds : the political risk of overseas investments |
| title_full | Singapore's sovereign wealth funds : the political risk of overseas investments |
| title_fullStr | Singapore's sovereign wealth funds : the political risk of overseas investments |
| title_full_unstemmed | Singapore's sovereign wealth funds : the political risk of overseas investments |
| title_short | Singapore's sovereign wealth funds : the political risk of overseas investments |
| title_sort | singapore s sovereign wealth funds the political risk of overseas investments |
| topic | DRNTU::Social sciences::Economic development::Singapore |
| url | https://hdl.handle.net/10356/104393 http://hdl.handle.net/10220/4542 |
| work_keys_str_mv | AT wufriedrich singaporessovereignwealthfundsthepoliticalriskofoverseasinvestments |