Generally speaking, sovereign wealth funds have two remarkable characteristics: one is owned, controlled and dominated by the government, and the other is to pursue the goal of maximizing returns after risk adjustment. Judging from the sources of funds of sovereign wealth funds, they can be formed by a government's distribution according to the possible risk movement path through specific taxes and budgets, or by the accumulation of resource export income or non-resource trade surplus, but it is usually inseparable from how to manage excess foreign exchange reserves: Take Asia as an example, oil-producing countries in the Middle East, China and Southeast Asian countries have accumulated a large amount of US dollar foreign exchange reserves, while Asian countries do not need so many foreign exchange reserves just to maintain the function of external payment and maintain currency stability; From the perspective of economic efficiency, holding too many foreign exchange reserves with low yield is also a waste of financial resources. Therefore, the surplus foreign exchange reserves are no longer invested in traditional highly liquid assets, but converted into sovereign investment funds. Through expert management, we can choose a wider range of investment tools, build a more effective asset portfolio, and obtain high returns after risk adjustment.