#UsapangPera: Mga Tips sa Pagyaman with Sir Vince tackles money issues such as savings, loans, budgeting, and investing among others. Visit Sir VInce's website: www.vincerapisura.com. How to join SEDPI Coop: 1. Join SEDPI Foundation at bit.ly/SEDPIOnlineSRI by clicking “Register” and filling out the form 2. Take the online Pre-Membership Education Seminar (PMES) at bit.ly/SEDPICoopPMES 3. Pay membership fee and initial share capital Simulan ang pagiinvest the socially responsible way sa: bit.ly/SEDPIOnlineSRI Pag-IBIG MP2: * Watch the play list: https://www.youtube.com/playlist?list... SSS Retirement: Watch the playlist https://www.youtube.com/playlist?list... How to invest 100K: https://youtu.be/dxHRZn7uP-4 Celebrity guests include venus Raj (Season 1); Nicole Cordovez and Sinon Loresca (Season 2); Atom Araullo (Season 3) and Porky (Season 4). Smart Parenting Board of Expert

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So ang Sovereign Wealth Fund po, ang ibig sabihin po nito ay state-owned investment funds

managing diverse assets for economic and citizen benefits.

So maganda naman talaga ang Sovereign Wealth Fund kasi ginagawa ito sa ibang bansa eh.

It first emerged in the mid-20th century primarily in countries with surplus revenues from commodities like oil.

So mayroong windfall kumbaga na sinasabi may jackpot na kinita ang bansa na ito

at para hindi maubos agad, naglalagay sila at nagtatayo ng Sovereign Wealth Fund.

So ang unang unapong Sovereign Wealth Fund na nakita natin ay na-establish noong 1953.

Ito po ang Kuwait Investment Authority at nanggaling sa, yes, nakulaan nyo na,

sa langis ang pinanggalingan ng pera nila no?

Ano ba ang role and significance ng Sovereign Wealth Funds in the global economy?

It provides an economic buffer aiding in stabilization during downturns.

Kasi may sobra nga, it's parang saving for a rainy day ang nangyayari pero in the global scale

at country level yung pinag-uusapan natin.

So given their long-term investment horizon,

yung SWF can take on investments with substantial long-term return potential.

So dahil long-term yung pinag-uusapan natin, mas kaya mag-take on ng risks ng mga Sovereign Wealth Funds

and that is good for the global economy.

And by investing in specific sectors, yung Sovereign Wealth Funds po can support national priorities

like infrastructure, technology advancement, or economic diversification.

At yan po actually yung gustong gawin ng Maharlika Fund.

Mas dito no, for national priorities.

At meron po tayong iba't ibang types ng Sovereign Wealth Funds.

So meron tayong savings funds, stabilization funds, at saka pension funds.

At meron ding for strategic development.

So how are SWFs funded? Paano ba sila napupondohan?

Pwede po itong through commodity exports. Ano ba yung commodity?

Ito yung mga produkto na kahit saang panig ng mundo mo bilhin ay pareho lang.

Katulad ng langis o yung diesel dito sa Pilipinas, pareho lang yung quality niyan ng diesel.

Sa Amerika, sa kung saan man. Maliit lang yung pagkakaiba.

Mga mais, mga bigas, asukal, commodity yan.

Kasi kumain ka ng asukal dito sa Pilipinas, kumain ka ng asukal sa Japan, pareho lang.

Matamis pa rin yung mga yun. Yan ang ibig sabihin po ng commodity.

Okay. Tapos meron din po na...

So yung kinikita from exports, pwede yang naging pangpondo ng sovereign wealth funds.

Kasi ang nangyayari niyan, kung narin ako, exporter ako.

So yung produkto ko, ibinenta ko abroad.

So ako ngayon ay nagkaroon ng dollars.

Kung ano man yung foreign currency yan. Nagkaroon ngayon ng dollars.

Pero pagdating ng dollars ko dito sa Pilipinas, hindi naman po pwede na ibabayad ko doon sa mga supplier ko

at saka sa mga trabahante ko ay dolyar din.

So kailangan kong papalitan yung dolyar na yan sa bangko.

So yung bangko, papalitan niya yan yung dolyar ko, bibilihin niya at magkakaroon ako ng peso.

Ngayon, yung bangko naman, yung naipon niyang mga dolyar na yan,

ay ibibenta niya sa Banko Sentral ng Pilipinas.

At bibilihin ng Banko Sentral yung dolyar na yan doon sa mga bangko.

Kaya nagkakaroon ng dollar reserves yung bansa natin.

Oh! Oh! Nag-gets niyo yun ha?

Dapat na. Intindihan niyo yan. Pinaghirapan kong i-simplify yan.

Ganon din yung nangyayari sa foreign exchange reserves natin.

So tayo, sa Pilipinas, hindi tayo nag-iexport ng malakihang commodity.

Unlike dati yung marami tayong industries na nag-iexport tayo.

Ngayon medyo mahina na.

Very few. Ang pag-export natin ng coconut, for example, banana, pineapple, hindi na siya ganoon kalaki.

Ang pinagkukunan talaga natin ng foreign exchange reserve natin ay through remittances from our overseas Filipino workers.

Ang ating mga bagong bayani.

So paano po tayo nakakakuha ng foreign exchange reserves dyan?

Ganon din.

Nagpapadala sila ng dolyar dito o ng foreign currency.

Pinapapalitan natin sa bangko.

Yung bangko ngayon, mapapalitan sa bangko sentral.

Bibilihin ng bangko sentral.

Makakaroon ng reserva doon sa bangko sentral na dollars.

At yung pondo na yun ay pwedeng ilagay nga sa tinatawag natin na sovereign wealth funds.

Ganon kasi usually yung pagbuo ng pondo ng sovereign wealth funds.

Kaya napakontrobersyal nitong maharlika fund natin dahil yun nga, hindi naman tayo nagkakaroon ng windfall.

So transfer of assets from other funds.

Pwede rin naman yun, pension fund o ganyan.

Pwede rin ilagay sa sovereign wealth fund.

Ginawa yan sa ibang bansa, to be fair also.

At mga fiscal surpluses.

Merong budget yung gobyerno natin.

At yung budget, nung i-implement yung mga programa at the end of the year, may savings.

Budget surplus or fiscal surplus ang tawag dyan.

Eh, tayo dito po sa Pilipinas ay budget deficits po.

Wala pa akong taon na nabalayan na tayo ay nag-budget surplus.

Kaya ang tanong talaga ay, so saan ba dapat natin kukunin ang pangpondo sa sovereign wealth fund na yan?

Ang kasagutan po, ibibigay ko, maya maya.

Okay, so ano yung mga countries na may best practices on sovereign wealth fund?

Kasi maganda na, tingnan na natin kung ano yung mga magagandang practices abroad ng ibang mga bansa

to make sure na hindi na natin uulitin yung mga bad practices at kopyahin na natin yung mga magagandang practices nila.

So ano ba yung ibig sabihin ng best practice?

In terms of sovereign wealth fund, mayroon dapat clear objective.

Check natin ang Moharlika Fund on that.

Maganda naman kasi ang objective niya ay national development.

Okay, I agree. Mag-agree ako dyan.

Dapat mag-implement ito ng robust governance and operational frameworks.

Aha, dito na tayo medyo sumasablay.

Kasi yung robust governance, sa transparency international at global transparency index, ang baba natin.

So medyo challenging pa tayo dyan.

Ensuring high standards of transparency and accountability.

Hello!

Yung Freedom of Information Bill na priority ng past administration ay hindi naman talaga na ipapatubad.

Yung Freedom of Information Law natin.

Yan ha. So ito yung mga best practices na dapat titignan natin sa sovereign wealth fund.

So sa una, walang problema dyan.

Kasi talagang madali naman magsabi ng layunin at objective.

The devil is in the details.

Kahit na sinabi mo pa na ang objective ko ay maging Miss Universe.

O magandang objective yan. Pero kaya mo ba?

Baling kinitan ka ba? Magaling ka bang sumagot sa Q&A?

Ganon din sa sovereign wealth fund.

Madaling maglagay ng mga objective pero yung governance, operational frameworks, transparency and accountability,

kailangan pa natin isaalang-alang ang mga yan.

Okay. Ang isa sa pinakamagagaling na gumagawa ng kanilang sovereign wealth fund ay ang Norway.

Ang kanilang government pension fund global which is managed by the Norwegian Investment Management.

Okay. So ito ay funded by oil revenues.

So galing po sa langis o windfall yan.

Parang naka-discover sila ng kayamanan at sabi nila,

hindi natin dapat ito ginagastos para sa atin lang.

Pwede ito sa future ng bansa natin at mapapakinabangan ng mga susunod na henerasyon.

Meron ba ganyan sa Pilipinas?

Walay.

Actually meron. Meron tayo doon. Yung malampaya, gas.

Pero question mark kung nasan yung pera.

Actually nalulugi pa nga yato o yung pondo ay nagamit natin.

So hindi talaga sya pang surplus.

So yan. This is intended to finance public pensions and prevent economic overheating.

Yan po yung government. Yan po yung sa Norway.

And ang Norway na sovereign wealth fund, known po yan for its high transparency and ethical investment guidelines.

Kasi napakababa naman talaga ng corruption sa bansang yan.

At yung kanilang investment guidelines talaga ay malinaw na malinaw.

Okay?

Ano pa?

Okay. So ang susunod naman ay ang Singapore.

At ang Singapore ay may dalawa siyang, meron siyang dalawang sovereign wealth fund.

Di ba nagmamataray itong Singapore?

Not one siya. Not one but two sovereign wealth funds siya.

At ang kanyang sovereign wealth funds ay tinatawag na Temasek Holdings

at yung isa naman ay Government of Singapore Investment Corporation.

So ito ay napondohan naman by Singapore's foreign reserves.

Dahil lang Singapore ay malakas ang pasok ng kanyang dolyara mura sa tourism at sa kanyang financial sector,

lumalaki ang kanyang foreign reserves.

So ngayon, yun yung ginagamit niya para pondohan yung kanyang sovereign wealth fund.

Actually tayo, ang pwede rin na sana na gamitin natin dyan ay yung foreign reserves natin as a result of remittances.

Pero ang nangyayari kasi kapag titignan natin yung ating foreign reserves,

ay hindi pa siya nandun sa best practice level na masasabi natin may sobra-sobra tayong foreign reserves.

Eh yung sa Singapore, sobra-sobra na. Kaya sila ay nagkaroon ng sovereign wealth fund.

So yun, it aims to strengthen Singapore's economy and ensure the well-being of the future generations.

And of course, we know that Singapore is renowned for their, again, strong governance and clear investment strategies.

Pangatlo ay ang Abu Dhabi Investment Authority. This is funded by oil surplus.

So ADIA ang tawag dyan. So it's aimed to diversifying income sources away from oil and stabilizing the economy of Abu Dhabi.

Known for its diversified investment portfolio and product risk, a prudent risk management. Yan po ang Abu Dhabi.

So why are these SWS successful? Bakit sila nagtatagumpay?

Ang common, strong governance and operational frameworks, high standards of transparency and accountability,

at saka ethical investment guidelines, and diversified investment portfolio.

So dyan na nagkakaroon ng maraming question mark, question mark, question mark.

Yung social wealth of ating sovereign wealth fund o mahalika fund ng Pilipinas.

Ano yung mga controversies in other countries?

Punta natin yung mga best practices. Ngayon naman, punta tayo dun sa mga controversies

para alam na natin yung mga kukopyahin natin at ano naman yung mga iiwasan.

So para sa mga iiwasan, ito, problemado. Libyan Investment Authority.

Dahil ang problema naman dito ay kanilang opacity.

Ang opacity kasi ibig sabihin hindi makapasok yung light so hindi siya transparent.

Ang Libyan Investment Authority faced several allegations and legal actions related to mismanagement and corruption.

Ganon din ang Chinese Investment Corporation because it faced criticisms over the lack of clarity surrounding its investment strategy and performance.

Ang Russian Direct Investment Fund, political interference and lack of independence naman yung kanyang controversies dito.

Kasi nabinu-view yung pondo as a tool of state policy for geopolitical influence rather than as an independent financial institution.

Ibig sabihin yan, mas importante nagagamitin niya yung pera na yun para maging powerful siya in the global stage

and preserving the fund for the benefit of its economy and its people.

Ganon din sa Qatar Investment Authority kasi closely tied yung kanilang sovereign wealth fund sa ruling family.

So nagiging parang old school pa na monarch-monarch niya.

Yung Norway din actually na sovereign wealth fund mayroon yung negative effect in the global economy

because sobrang laki niya, it can influence global markets and impact investment decisions.

The same is true with SAMA or the Saudi Arabian Monetary Authority.

Dahil sa laki din, pwede siyang makainfluence sa global financial markets.

Okay, dito naman tayo sa advantages ng sovereign wealth funds.

Ang advantages nito, of course, it will provide economic stabilization and diversification for the country.

May long-term investment potential po tayo.

It supports national strategic objectives and intergenerational equity securing wealth for future generations.

So discuss natin economic stabilization and diversification.

It can accumulate and invest the surplus revenues, particularly during high commodity prices or trade surpluses

para ma-stabilize yung ekonomiya kapag may economic downturns.

At dahil tayo ay nag-i-invest sa broad range of assets and geographies,

it can diversify the source of national income, reducing the resilience on volatile revenue sources

like commodities ng oil o kaya mga bigas, ganyan, kung ano man yung source of income.

So for diversification siya.

Long-term investment potential, dahil nga long-term yung investment horizon,

it can take on riskier assets na kapag ikukumpara natin sa mga investment traders,

ay hindi nila yun papasukin dahil nga masyadong risky.

So dahil kapag long-run yung investment horizon mo, when you invest, mayroon ka pang time na pwedeng bumawe

and you can exert more influence dahil malaking pondo ka nga.

It also allows them to weather short-term market volatility and capitalize on long-term economic trends

kasi yun nga, long-term yung horizon.

The Maharlika Fund or Sovereign Wealth Fund can support national strategic objectives

because if we invest in projects that are aligned with our strategic objectives

tulad ng infrastruktura, teknologiya, renewable energy,

it can support our national strategic objectives.

It can also facilitate economic development, job creation, dahil nga nag-i-invest ka.

So pwedeng mag-resulta yan into job creation, technological innovation in the home country.

Kaya maganda naman talaga magkaroon ng Sovereign Wealth Fund.

Parang napaka-ideal niya pero ang tanong, handa ba tayo for that?

Tapos dito naman ang isang benefit advantage pa niya ay

intergenerational equity or securing the wealth for future generations

kasi tulad ng mga bansang mayayaman sa langis, sinasabi nila after 50 or 100 years

baka pwedeng maubos na ang langis.

So ano na yung magiging negosyo or source of income ng mga future generation?

So para rin mag-invest na sila sa ibang investment ngayon

to generate wealth for depleting resources such as oil for future generations.

At para rin ma-ensure na yung wealth derived from finite natural resources natin

ay hindi lang ma-enjoy ng mga henerasyon ngayon pero mapapakinabangan pa ng future generations.

Sabi nga ni Whatever Blog Journey, ay nako sa atin kasi wala naman tayong maraming surplus

at hikahus pa nga tayo sa pangkapital. Yan nga din yung problema ko.

Anyway, disadvantages of Sovereign Wealth Funds.

So this has potential for mismanagement and corruption, it can concentrate economic power

and there is risk of economic overheating and asset price inflation.

Very obvious na itong mismanagement and corruption kasi ilang beses na ba natin itong nakita sa kwento ng Pilipinas?

Dahil kapag less transparent at less ang oversight natin which is the case here in the Philippines,

susceptible talaga ito sa mismanagement and corruption.

So yung mga large amounts of money na naminamanage ng Sovereign Wealth Funds

na ang mga bansa ay mahina pa ang kanilang institutional governance,

pwede po yang ma-misuse talaga at ma-misappropriate.

Nakong dami-daming mga examples niyan.

Meron din pong concentration of power.

Dahil nakakalap tayo ng pondo at sino ba yung mga nakaupo dyan at maggagawa ng decision,

sila sila na lang po talaga ang makikinabang.

At yung influence na yan ay pwede maka-afekto sa mga industriya and could have national security implications.

There's also risk for economic overheating and asset inflation.

Kasi kung narin dahil ikaw ay malaking pondo at bibili ka,

punta ka ng infrastruktura for example at bibili ka ng real estate,

it could potentially overheat the real estate sector na hindi na ma-afford ng iba na bumili.

So hindi rin siya maganda.