Reinventing the sovereign wealth fund: Let us be cleverer

AMIDST the tremors of the pandemic, it is timely to look into why some sovereign wealth funds (SWFs) were able to cushion the impact on their local economies while phenomenally re-emerging with ever-stronger performance.

SWFs are state-backed entities entrusted with managing the country’s temporary excess cash originating from natural resource revenues after commodities and energy boom or accumulation of foreign exchange reserves due to current account surpluses.