Sovereign Asset Management A Practical Framework for a New Era in Sovereign Investment (SAM) هذه الدورة تدرس باللغة الإنجليزية

تفاصيل الدورة

This course, presented by the IMF's Monetary and Capital Markets Department, addresses issues pertaining to how countries link policy objectives, and macroeconomic and institutional constraints in the management of sovereign foreign assets. An emphasis is placed on the range of approaches which may be employed in developing a framework for sovereign strategic asset allocation (SAA) and investment policies, taking into account the different objectives and constraints of different types of sovereign investors. The management of associated risks features prominently. Lessons from the global financial crisis for managing sovereign assets are highlighted, as are new challenges. Finally, simulation-based tools, hands-on training, and country case studies are used to illustrate practical issues, including presentations by invited practitioners from the financial markets.

The course considers, inter-alia, the following: 

•  Macro-financial linkages in sovereign asset management including how the management of sovereign assets and liabilities can be approached in a way that serves both the needs of domestic stakeholders, as well as the broader international financial system;
•  New advances in strategic asset allocation and portfolio construction methodologies, including the limitations and benefits of different approaches to building robust portfolios;
• Risk management, including the management of liquidity, currency, duration, credit and tail risks, as well as asset-liability management considerations;  
• New challenges in sovereign investment management, including navigating a world of financial repression and a shortage of safe assets; financial deepening in emerging capital markets; a framework for outsourcing and internalizing asset management; and considerations for domestic versus foreign investment of sovereign assets.