隨著主權基金日益增長的規模，已成為近年來不可忽視的新投資勢力，本研究透過剖析主權基金的成立目的，更直接地分析不同主權基金的操作理念及投資目的。由於主權基金為官方管理，並以長期投資策略為理念，因為他們的資金來源相對穩定，多數並不運用財務槓桿擴大投資，本研究認為主權基金長期是有穩定市場的效果。同時，在次級房貸風暴中，主權基金扮演著歐美主要金融機構資金救火隊的角色，隨著金融風暴的逐漸趨緩，也看見了歐美與新興國家在金融版圖勢力的消長。在未來隨著IMF及OECD等國際組織的政策規範下，主權基金的操作原則及透明度相信會有明顯地改善，對健全及穩定金融市場將會有更正面的效果。 Sovereign wealth funds have became a enormous player in the financial market due to the dramatic increasing size. By analyzing the goals of the funds, this thesis tries to categorize their investment strategies and purposes directly and clearly. Sovereign wealth funds are managed mainly by government with long term investment horizon and hardly leverage, as their funding source is quite stable, which are deemed as a stable factor of the financial market in the long run. In addition, sovereign wealth funds even played a role of financial institutions savior in the world during the sub-prime crisis. As the financial crisis is subsiding, the influence of world financial territory between developed and emerging countries is transferring. In the future, followed by the practices and guidelines released by IMF and OECD, we believe that the investment principle and transparency will be improved obviously. It will be positive for improving and stabilizing the financial market.
