... Long-Term Investing", Bolton, et al 42 Andrew Ang and Knut N. Kjaer, “Investing for the Long Run”, in Bolton et al The Sovereign Wealth Fund Initiative Summer 2012 On the Need ... preeminently to among the critical strategic investment issues facing all institutional investors. Whether a central bank, sovereign wealth fund, pension fund, or endowment, managers are sensitive to their ... ability to meet the need for more reserves to affect currency 11 interventions or additional capital to fund larger budget gaps, to meet the reserve requirements of pensioners, or to satisfy the...