News 24 Jun. 2021
Curtis successfully defends foreign states' procedural privileges in the UK Supreme Court
News 23 Jun. 2021
Ibrahim Elsadig joins Curtis as Partner in Dubai
News 09 Aug. 2021
Curtis, Mallet-Prevost, Colt & Mosle enters into association with Chevalier Law in Singapore.
Event 23 Apr. 2021
Partner Borzu Sabahi to speak on Damages, Enforcement and Annulment of Arbitral Awards at Executive Training Program hosted by the Government of India and the Indian Institute of Foreign Trade
Client Alert 18 Oct. 2021
Senior Associate Martin Wolff Discusses Practical Questions with Regard to the German Implementation of the EU Directive on Cross-Border Tax Arrangements (DAC6) in Institutional Money
News 18 Oct. 2021
Jan Krupski Joins Curtis as a Partner in Frankfurt
News 15 Oct. 2021
Claudia Frutos-Peterson and Elisa Botero Ranked Among the Top 100 Female Lawyers in Latin America by Latinvex
News 13 Oct. 2021
Curtis Joins The Appellate Project to Promote Appellate Practice to Diverse Law Students
Client Alert 15 Oct. 2021
Recent change in Dubai’s Arbitration Landscape.
News 20 Sep. 2021
Curtis Successfully Defends the Sultanate of Oman and Oman Aluminium Rolling Company LLC in U.S. Department of Commerce Trade Case
Client Alert 05 Oct. 2021
Proposed Legislative Changes to Federal Estate, Gift and Trust Taxation
Publications 22 Sep. 2021
Client Alert 24 Jun. 2021
U.S. Insight: Update on Virtual Notarization (Executive Order 202.7) During the COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021)
U.S. Insight: Update on Virtual Witnessing (New York Executive Order 202.14) During The COVID-19 (Coronavirus) Pandemic (Updated: June 24, 2021)
Sovereign wealth funds, or SWFs for short, are state-owned investment funds that are frequently funded by a country’s budgetary surpluses. There are a number of different types of sovereign wealth funds, including stabilization funds, savings generation funds, and strategic development funds. Their purpose frequently depends on the type of fund in question.
The purposes of sovereign wealth funds are varied. Some are designed to stimulate and strategically develop certain areas of industry of interest to a particular country. For example, a country may choose to invest in domestic tech companies in an attempt to stimulate its high-tech industry. Other funds are designed to provide monetary stability through times of economic hardship.
In a manner of speaking, yes. Sovereign wealth funds are creations of statute and regulation and are, therefore, regulated. However, since the funds are owned by the nation, and the nation can, at any time, change the regulations and legislation that govern the behavior of the fund, it would be disingenuous to claim that sovereign wealth funds are regulated in the traditional sense of the term.
Carl A. Ruggiero