![]() ![]() SWFs invest both in real and financial assets, ranging from stocks, bonds, real estate, precious metals, and hard infrastructure, to alternative investments such as private equity, hedge funds, and venture funds. Sovereign Wealth FundsĪ Sovereign Wealth Fund is a state-owned investment vehicle established to channel balance of payments surpluses, official foreign currency operations, proceeds of privatizations, government transfer payments, fiscal surpluses, and/or receipts from resource exports, into global investments on behalf of sovereigns and in the advance of goals. This article introduces its readers to sovereign wealth funds as an asset class, its “categories of purpose,” investment strategies, and trends, as well as its ever-evolving allocation strategies. Assessed as pure-play asset managers, SWFs are heterogeneous in investment objectives, which in turn drives their investment behavior, portfolio mixes, and success measures. As an asset class, they have grown exponentially in size, number, and relevance, as reflected by their ballooning AUM, currently pegged at $7.4 trillion, and the scope, scale, and sophistication of their deals. Cases in point: Was their mass rescue of the West’s banks-Citi, Merrill Lynch, UBS, and Morgan Stanley-during the 2008 financial crisis a collective investment in search of alpha or an exercise in geopolitical opportunism? Are China Investment Corporation’s African Infrastructure-for-Resources deals about non-renewable resource security or about geopolitical influence?Ĭonspiracy theories and geopolitical checkmates aside, SWFs are without a doubt now mainstays of the global investment landscape. After all, they exist somewhere between the murky grey of return-maximizing, mega-cap asset managers, and clandestine government agencies quietly used to further sovereign agendas. Since their formal arrival on the investment scene in the 2000s, sovereign wealth funds (SWFs) have been met with a healthy mix of curiosity and trepidation. SWFs' portfolio mixes are driven by the underlying economic and strategic priorities of their host governments, of which there are the three mentioned above: (1) stabilization, (2) capital maximization, and (3) strategic economic development. ![]() Sovereign wealth funds typically allocate their assets across four investment classes: (1) cash and equivalents (2) fixed-income securities (3) global, public equities and (4) alternative investments, which include direct/private equity, venture capital and hedge fund, real estate, and infrastructure investments.Return to the previous room with the statues and then go through the doorway on the left to hit a save point. When they're dead, pull the lever in this room to open up a gate elsewhere in the temple. ![]() You'll run into a few undead legionnaires that you can air combo to oblivion. Go first through the doorway on the right side of the statue. ![]() Pull both levers to open up doorways on either side of one of the statues. There are two large statues in the room that you can pull away from the walls to reveal two levers. Clear the room, and look for a red orb chest in the left-hand corner of the room. Run through the very long hall to enter a large room swarmed with harpies. With that enemy behind the gate now defeated, you can open up the large door straight ahead. Pull the nearby lever to open a gate and return to the upper courtyard where you first fought the fire bombers. Clear the arena and continue up the stairs and through the gate you opened earlier.įollow the path to a lone fire bomber and take him out. Focus first on the fire bombing clowns to keep them from cheap-shotting you while you fight the other guys. As you step into a circle arena, more satyrs appear, some with blades and some with fire bombs. Move toward the screen and then run up the stairs to the left. The semi-hidden path to the left has a few of the satyrs armed with blades (air combo them) and a lever that opens a gate you can't access yet.īacktrack to the area at the top of the lift and ride the lift back to the lower platform. When the enemies are dead, go back to the elevator platform and look for a somewhat hidden set of stairs to the right with a phoenix feather chest. Avoid the flames left behind their fire bombs. Quickly charge after the horned satyrs ahead as they toss fire bombs at Kratos. Pull the lever near the save point to ride a platform up to another courtyard. ![]()
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