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Sovereign Wealth Fund Accountabilities

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A major question looms for many policymakers. Who are sovereign wealth funds accountable to? By examining each sovereign fund’s governance framework, it is paramount to see who is at the top and who do they answer to? There are no generic answers to these questions. Sovereign wealth funds have many key constituencies to address including domestic and foreign parts.

Sovereign wealth funds have a domestic component that must be addressed. This public accountability stems from the sovereign wealth fund being a part of the nation or state. Usually, sovereign wealth funds have a well-defined mission with strategic goals in mind. In democratic regimes, sovereign wealth fund management usually answers to elected officials. In monarchies, the head of state is the primary stakeholder of the fund. For example, the Alaska Permanent Fund manages the state’s oil wealth.

It is accountable to the State of Alaska and its citizens.

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Rumors Swirl Around PIF Looking at Tesla Rivals

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Saudi Arabia’s Public Investment Fund (PIF) could be doubling down on electric automobile manufacturers. It was revealed that PIF has a sizeable stake in Tesla Inc. Elon Musk’s recent tweets have stirred up financial media and has even prompted an SEC probe.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DLF-GIC to Kick in Rs 12.5 Billion for Midtown Project

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Indian real estate giant DLF, which has worked with Singapore’s GIC Private Limited in the past, is working on a new housing project in central Delhi dubbed Midtown. Large residential real estate projects in India’s capital are difficult to come by. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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QIA-Glencore Stake Valued at 7.4 Billion euros

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QHG Oil Ventures is selling a 14.2 % stake in Moscow-based Rosneft for €7.4 billion (US$ 8.4 billion) to the Qatar Investment Authority (QIA). This is according to a QHG financial statement. QHG Oil Ventures is a joint venture between the Qatar Investment Authority and Glencore, a Swiss-based, broad-spectrum mining and commodity company. QHG Oil Ventures was originally formed to invest in Rosneft. QHG purchased a 19.5 % stake in the company in 2016, in a deal that supplied Russia with needed funding at the time, and the estimated value of the investment has remained steady. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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