景顺集团：2023景顺全球主权资产管理研究报告（英文版）（47页）.pdf

1、2023Invesco Global Sovereign AssetManagement StudyWelcomeKey metricsTheme 1Theme 2Theme 3Theme 4Theme 5AppendixContents02Theme 1 07Building portfolios in the new macro environmentAmid persistent high inflation and real interest rates,investors are recalibrating portfolios.Sovereign wealth funds favo

2、ur fixed income and private debt,while Emerging Markets with solid demographics,political stability,andproactive regulation,particularly India,have emerged asprime investment destinations.Theme 2 15Finding value in private assetsSovereign wealth funds continue to find private assets appealing,but pe

3、rformance disparities have prompted investors to exercise more judicious selection.Infrastructure,especially renewable energy,has emerged as the preferred sector.Evaluating debt metrics and prioritising organic growth over leverage-dependant returns have become critical components in investment deci

4、sion-making.Theme 3 22Financing the future:sovereigns strategies foraccelerating the energy transitionIncreasing geopolitical tensions and climate concerns are highlighting the need for secure,sustainable energy supply chains,propelling renewables to the top of investors agendas.Sovereign funds and

5、central banks are prioritising green infrastructure investments and green bonds.Navigating the greenwashing terrain,investors are adopting an active stance,accepting development risks,and issuing green bonds to ensure authentic ESG alignment.Theme 4 29The next generation of development fundsThe rece

6、nt decade witnessed a wave of new and emerging development sovereign funds,eagerly seeking partnerships with more established counterparts.These nascent funds concentrate on helping to catalyse the energy transition andachieving social goals.To bridge capability gaps,they are leaning on external ass