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Sovereign wealth funds : A case study of Korea Investment Corporation

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  • Sovereign wealth funds
  • Paltrinieri, Andrea; Pichler, Flavio; Miani, Stefano
  • Academic Star Publishing Company


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Title Sovereign wealth funds
Similar Titles
Sub Title

A case study of Korea Investment Corporation

Material Type Articles
Author(English)

Paltrinieri, Andrea; Pichler, Flavio; Miani, Stefano

Publisher

[New York]:Academic Star Publishing Company

Date 2014-09
Journal Title; Vol./Issue Journal of Business and Economic:Vol. 5(No. 9)
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Financial Policy
Government and Law < Others
Holding Academic Star Publishing Company

Abstract

Based on “in-depth study”, the aim of the paper is to investigate Korea Investment Corporation (KIC), a non-commodity Sovereign Wealth Fund, in order to analyze its investment strategies over the time (2005-2012) and evaluate any form of “political bias”. Our results suggest that KIC pursues financial objectives, aiming to maximize the portfolio risk/return relationship, as it manages foreign excess reserves of those managed by Bank of Korea. We also argue that a form of “internal political bias” affects investment process, as most of the financial resources are managed in-house. Overall, we support the hypothesis that in Korea Investment Corporation both financial and political objectives coexist.