Classification of Sovereign Wealth Funds and Comparison with International Typical Funds

The paper firstly classifies Sovereign Wealth Funds（SWFs） from different angles including aims， resources of capital and investment strategies， and then analyzes the features of SWFs in comparison with some other types of international funds in different dimensions， such as foreign currency assets holdings， foreign loans， risk carrier and investment. Compared with other funds， SWFs have high sovereign and foreign currency exposure， high risk tolerance and long investment horizon， which as a result can dispose assets in the whole world without limitation of liquidity. Therefore， SWFs contribute to the lowering of the risks of fluctuating and liquidity in the financial market. The risks moving of SWFs should be taken into account now， and IMF should establish the rules of conduct to regulate their investments in order to evade the moving of risks.