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JOURNAL OF LEADERSHIP, ACCOUNTABILITY AND ETHICS
Ethics and Sovereign Wealth Fund Investing
Author(s): Walt Schubert, Les Barenbaum
Citation: Walt Schubert, Les Barenbaum, (2010) "Ethics and Sovereign Wealth Fund Investing," Journal of Leadership, Accountability and Ethics, Vol. 8, Iss. 2, pp. 28 - 32
Article Type: Research paper
Publisher: North American Business Press
Abstract:
This paper focuses on the ethical investing dilemma face by Sovereign Wealth Funds. While most funds
cast their goals within the standard risk-return model, many Funds face ethical investing issues. We focus
on the ethical investing issue in the context of maximizing ownership utility. We analyze how ethical
issues impinge on the investor utility function, offer a menu of strategies for managing ethical issues,
discuss the relationship between ethical investing and the desirability of risk reduction and earning
greater returns, and create an example of how a Sovereign Wealth Fund might employ our taxonomy to
create an ethical investment strategy.
