We analyze definitions used by researchers about a single concept: Sovereign Wealth
Funds (SWF). It is still a matter of recent controversy and debate. We place these definitions
into one of eleven categories. The results show full agreement (what we have called 'the
core') for just two characteristics: SWFs are owned by governments and they are investment
funds. Beyond the core, there are three layers commanding general consensus: SWFs are
(1) international investors;(2) without explicit pension liabilities;(3) determined by the source …