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21-3 Sovereign Wealth Funds Are Growing More Slowly, and Governance Issues Remain
Julien Maire, Adnan Mazarei, and Edwin M. Truman February 2021
The term “sovereign wealth fund”—coined 15 years ago by the British economist Andrew Rozanov (2005)—denotes funds accumulated by a government that are invested, for many funds mostly abroad, to benefit the country in the future. The purpose of these funds has been to smooth out revenues from fossil fuels and other natural resources, supplement pension funds, promote development, and/ or save for a rainy day. Estimates of the assets under managemen
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