SWFI First Read, June 5, 2016

Trinidad & Tobago Experiences First Drawdown of Wealth Fund

The Trinidad & Tobago government has withdrawn 2.5 billion TTD (US$ 385 million) from the country’s Heritage & Stabilization Fund. This is the first time there has been a drawdown of the Heritage & Stabilization Fund. The fund will back-pay government workers.

India FinMin: NIIF and QIA Sign MoU on Infrastructure

India’s National Investment and Infrastructure Fund (NIIF) and Qatar Investment Authority signed an Memorandum of Understanding (MoU) with regard to infrastructure investments, according to India’s Ministry of Finance.

BlackRock CEO Predicts Consolidation in Asset Management Industry

BlackRock CEO Laurence Fink, at the Deutsche Bank Global Financial Services Conference 2016 in New York, commented that he expects consolidation to occur in the asset management industry. Two primary causes in his belief are asset managers struggling to outperform benchmarks and the second, a new U.S. Department of Labor (DOL) rule that favors passive investment strategies. BlackRock manages the largest roster of exchange-traded funds (ETF) in the world.

San Diego City Employees’ Retirement System to Remove REIT Allocation

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