Seward, JamesUlukan, MustafaKim, Mee JungTsubota, HiroshiGable, Timothy2015-01-062015-01-062014-09-01https://hdl.handle.net/10986/21102Sovereign Wealth Funds (SWFs) have been in existence for many decades worldwide, however most SWFs in the East Asia and Pacific Region (EAP) are relatively new. The emergence of the SWFs in Asia is largely a by-product of the strong economic development at East Asian countries in the last two decades and the attendant accumulation of foreign exchange reserves. However, there are other types of SWFs in the region as well. The EAP region is an ideal region to take a look at the issues surrounding SWFs since Asia has the full range of funds from long-established funds to brand new funds; from passive portfolio investors to more aggressive strategic investors; from resource-backed funds to foreign reserve-backed funds; and, based in the largest, most highly developed economies to the smallest, poorest economies in Asia. Therefore, the objective of this report is to document the status of Sovereign Wealth Funds in the East Asia Region and to understand their governance structures. The report will also investigate how lack of standardized, long-term financial instruments devoted to emerging markets leads funds to leak out of the EAP region, an area with significant investment needs. It presents facts from publicly available sources on their size, institutional structure, and investment operations.en-USCC BY 3.0 IGOACCOUNTANTACCOUNTINGACCOUNTING STANDARDACCOUNTING STANDARDSADVERSE EFFECTSALTERNATIVE INVESTMENTSASSET BASEASSET CLASSASSET CLASSESASSET MANAGEMENTASSET-BACKED SECURITYAUDIT COMMITTEEBALANCE SHEETSBANK MANAGEMENTBANK OPERATIONSBONDBOND ISSUEBROAD MONEYBUDGET DEFICITCAPITAL INVESTMENTCAPITAL MARKETCAPITAL MARKETSCENTRAL BANKCENTRAL BANKSCHECKSCOMMERCIAL INVESTMENTCOMMODITIESCOMMODITYCOMMON STOCKCONFLICT OF INTERESTCONFLICTS OF INTERESTCORPORATE BONDCORPORATE BONDSCORPORATE DEBTCORPORATE DEBT MARKETCORPORATE GOVERNANCECURRENCYCURRENCY CRISISCURRENCY EARNINGSCURRENCY RISKDEBT INSTRUMENTSDEBT ISSUANCEDEBT MARKETDEBT OBLIGATIONSDEBT SECURITIESDEBT SERVICEDEBT SERVICE PAYMENTSDEGREE OF LIQUIDITYDEVELOPING COUNTRIESDEVELOPMENT BANKDEVELOPMENT FINANCEDIRECT INVESTMENTDIVERSIFIED PORTFOLIOSDOMESTIC CURRENCIESDOMESTIC DEBTDOMESTIC DEBTSDOMESTIC ECONOMIESECONOMIC DEVELOPMENTECONOMIC POLICIESEMERGING ECONOMIESEMERGING MARKETEMERGING MARKET DEBTEMERGING MARKETSENFORCEABILITYEQUITIESEQUITY FUNDSEXPORTERSEXTERNAL ASSETSEXTERNAL DEBTSFEDERAL RESERVEFEDERAL RESERVE SYSTEMFIDUCIARY RESPONSIBILITIESFIDUCIARY RESPONSIBILITYFINANCIAL ASSETSFINANCIAL CRISISFINANCIAL INSTITUTIONSFINANCIAL INSTRUMENTSFINANCIAL MARKETSFINANCIAL RETURNSFINANCIAL RISKFINANCIAL SECURITIESFISCAL POLICYFIXED INCOMEFIXED INCOME PORTFOLIOFOREIGN ASSETSFOREIGN BANKSFOREIGN CURRENCYFOREIGN CURRENCY EXPOSUREFOREIGN EXCHANGEFOREIGN EXCHANGE RESERVESFOREIGN GOVERNMENTFUND MANAGEMENTFUND MANAGERSGLOBAL FINANCIAL STABILITYGLOBAL PORTFOLIOGLOBAL PORTFOLIOSGOVERNMENT BONDSGOVERNMENT INVESTMENTGOVERNMENT INVESTMENTSHEDGE FUNDSHOLDINGHOLDING COMPANIESHOLDING COMPANYHOLDINGSHOME MARKETHOME MARKETSHOST COUNTRYHUMAN CAPITALHUMAN DEVELOPMENTHUMAN RESOURCEHUMAN RESOURCESINCOME STREAMSINFLATIONINFLATION INDEXESINFLATION RATEINFRASTRUCTURE INVESTMENTINFRASTRUCTURE INVESTMENTSINSTITUTIONAL CAPACITIESINSTITUTIONAL CAPACITYINSURANCEINTERNAL AUDITINTERNATIONAL BEST PRACTICESINTERNATIONAL ECONOMICSINTERNATIONAL FINANCIAL MARKETSINTERNATIONAL STANDARDSINVESTINGINVESTMENT ACTIVITIESINVESTMENT APPROACHESINVESTMENT ASSETSINVESTMENT CORPORATIONINVESTMENT CORPORATIONSINVESTMENT DECISIONSINVESTMENT FUNDINVESTMENT FUNDSINVESTMENT GUIDELINESINVESTMENT HORIZONINVESTMENT POLICIESINVESTMENT POLICYINVESTMENT PORTFOLIOINVESTMENT PORTFOLIOSINVESTMENT STRATEGIESINVESTMENT STRATEGYINVESTMENT VEHICLEINVESTMENT VEHICLESISSUANCESLABOR STANDARDSLACK OF TRANSPARENCYLIABILITYLIQUIDITYLOCAL CURRENCYLOCAL INFRASTRUCTURELOCAL MARKETLONG-TERM DEBTLONG-TERM INVESTMENTMACROECONOMIC MANAGEMENTMARKET CAPITALIZATIONMARKET CONDITIONSMARKET PLAYERSMARKET PRACTITIONERMARKET SHAREMARKET VALUEMATURITYMONETARY AUTHORITYMONETARY FUNDMONETARY POLICIESMONEY SUPPLYMORTGAGESNATIONAL DEVELOPMENTNATIONAL SECURITYNATURAL RESOURCEOPERATIONAL INDEPENDENCEOPPORTUNITY COSTPENSIONPENSION ASSETSPENSION FUNDPENSION FUNDSPENSIONSPORTFOLIOPORTFOLIO INVESTMENTPORTFOLIOSPRIVATE CAPITALPRIVATE EQUITYPRODUCTIVE INVESTMENTPUBLIC FUNDSPUBLIC MARKETSPUBLIC PENSIONPUBLIC REGISTRYRATE OF RETURNREAL PROPERTYRESERVERESERVE FUNDRESERVE FUNDSRETURNRETURNSRISK MANAGEMENTRISK PROFILESAVINGSSECONDARY MARKETSECONDARY MARKET LIQUIDITYSECURITY PRICESSEIGNIORAGESHAREHOLDERSHAREHOLDER VALUESHAREHOLDERSSTRATEGIC INVESTORSSUBORDINATED DEBTSUPERVISORY BOARDTAXTRANCHETRANCHESTRANSPARENCYTREASURYTREASURY BONDSTRUST FUNDVALUE OF ASSETSWITHDRAWAL10.1596/21102