“Sovereign Wealth Funds are currently the ‘Lady Gaga’ of global capital markets, being much discussed and very fashionable.”
Who said it: Gary Smith, global head of official institutions at BNP Paribas Investment Partners.
Context: The comment was made by Smith in a from BNP PIP where he wrote about the growing interest in SWFs around the world, entitled Held in Reserve. The juxtaposition of Lady Gaga and SWFs struck as being something that only a deeply entrenched capital markets insider would think of to say. His text was written several weeks ago but has proven prescient, as Reuters just reported that China is preparing to set up a massive USD 300 billion SWF fund in the coming year.
Where we found it : BNP PIP article Held in Reserve
Image source: ibid