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«Public Administration Issues» Journal,

Post. address:
National Research University
Higher School of Economics
20 Myasnitskaya Str., Moscow 101000, Russian Federation
Location address:
of. 307, 4/2, Slavyanskaya sq., Moscow 109074, Russian Federation

Tel./fax: 7 (495) 772-95-90, ext. 12631

E-mail: vgmu@hse.ru 

Science Index rating

32nd place in the SCIENCE INDEX
for 2019 (more than 4000 journals)
Russian Science Citation Index

two-year impact factor for 2019: 2,631
(the citation of all sources)

Russian Science Citation Index
five-year impact factor for 2019: 1,725

Ten-year h-index 2019: 31

 

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Scopus




Research and educational journal
Published quarterly since 2007
ISSN 1999-5431
E-ISSN 2409-5095

Mstislav Afanasyev 1,2, Nataliya Shash 3
  • 1 National Research University Higher School of Economics, 20 Myasnitskaya Str., Moscow, 101000, Russian Federation
  • 2 Doctor of Economic Sciences, Professor, Department of Politics and Management
  • 3 Doctor of Economic Sciences, Professor, Academic Department of Financial Management, Plekhanov Russian University of Economics, 36 Stremyanny Per., 117997 Moscow, Russian Federation.

STRATEGIES FOR MANAGING GOVERNMENT SOVEREIGN WEALTH FUNDS DURING THE COVID-19 PANDEMIC

2021. No. 6. P. 49–62 [issue contents]
This paper examines the transformational shifts in investment strategies of sovereign wealth funds. It analyzes the basic theory of sovereign wealth funds and justifies the need for its development. It identifies the similarities and distinguishing features of sovereign wealth funds. Four types of sovereign wealth funds are characterized, and the key requirements for their management system are clarified. Analysis results for the changing capital among the world’s largest sovereign wealth funds since the start of the Covid-19 pandemic are given. Market value trends of the Government Pension Fund Global (Norway) for 1998-2021 were revealed, and a prediction of its changes for the period until 2026 was created. The influence of the Covid-19 epidemic on the structure of investment portfolios (including the emergence of a new class of assets) was presented, along with GPFG’s investment strategy. Changes in the amount of NWF’s funds (Russia) for the period 2008-2021 were presented and its growth for 2022-2023 was predicted. The transformation of NWF’s liquidity regulatory structure was assessed. New trends in the investment activities of sovereign wealth funds, which occurred under the influence of the Covid-19 epidemic, were revealed. These include reduced risk appetite, increased investment activity, and a higher share of direct investments in asset portfolios. Individual sovereign wealth funds were used to compile a chart of their investment portfolios, which were diversified depending on investment goals and risk level. Recommendations for building the investment strategy of sovereign wealth funds were formulated, with a proposed algorithm for its formulation, including three consecutive stages. It is noted that the results of implementing the investment strategy of sovereign wealth funds directly depends on management quality, whose efficiency can be assessed using special indicators. 

Citation:

Afanasiev, M.P. and Shash, N.N. (2021) ‘Strategies for managing government sovereignwealth funds during the Covid-19 pandemic’,Public Administration Issues, 6 (Special Issue II, electronic edition), pp. (in English). DOI: 10.17323/1999-5431-2021-0-6-49-62

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