Comparative Study On Investment Operation Of International And Chinese Sovereign Wealth Funds

Against the background of the rapid development of the global economy,global foreign exchange reserves have rapidly accumulated.Countries have set up sovereign wealth funds to optimize the management of huge foreign exchange reserves.So far,a total of 82 sovereign wealth funds have been established worldwide,with total assets of approximately 8 Trillion dollars.It is the unanimous goal of all sovereign wealth fund managers to manage and manage state assets well and realize their appreciation and preservation.At present,there are many successful sovereign wealth funds in the world,Norwegian sovereign funds with high transparency and diversified investment portfolios,and Singapore sovereign funds with strict risk management and active investment strategies.They are all successful examples.The newly established Chinese sovereignty Wealth funds have problems such as unclear investment positioning,imperfect legal systems,and weak risk management.This article first summarizes the relevant theories of sovereign wealth funds;then,it introduces the sovereign wealth funds in detail from the aspects of the rise and development,investment and operation models,and supervision;and then analyzes the investment and operation strategies of Chinese investment companies.The purpose of establishment,investment strategy,investment areas,risk management and investment returns are analyzed and compared for the investment operations of sovereign wealth funds in various countries around the world.At the same time,a mixed regression model is constructed to analyze the proportion ofequity investments,the proportion of emerging market investments and the global stock return.The impact of the rate of return on the returns of sovereign wealth funds,and draw the following three conclusions: first,the proportion of equity investment and the return on investment of sovereign wealth funds have a positive correlation;second,increase the investment proportion of emerging market countries and sovereign wealth There is a negative correlation between the returns of the funds.Third,there is a positive correlation between global macroeconomic conditions and the returns of sovereign wealth funds.Finally,the countermeasures and suggestions for improving the investment and operation of China's sovereign wealth funds are put forward.