SWFI First Read, October 19, 2015
China Now Has More Billionaires Compared to the United States
Despite political class warfare rhetoric in the U.S. political debate, China has surpassed the United States as the country with the most billionaires. This is according to a survey released by Hurun Reports Inc. The survey says China has 596 billionaires compared to the United States at 537. Last year, the report indicated China had 242 billionaires.
Russia’s Rusnano Looks to Work with India’s Defence Sector
Russia-based Rusnano Management Company plans to create a US$ 2 billion fund with Indian financial institutions. India’s National Infrastructure Investment Fund (NIIF). Rusnano plans to kick in 49% into the joint venture that will invest in defence and aerospace. Rusnano was formed on March 2011 as a re-organization of Russian Nanotechnologies Corporation, a state-owned entity set up in 2007. RUSNANO assumed all the rights and duties its predecessor, and 100% of RUSNANO shares remain in state ownership.
Future Fund Spends Cash
Australia’s Future Fund boosted allocation to fixed income and lowered exposure to emerging market equities in the period of September 2015 vs the previous quarter. The Future Fund’s cash allocation dropped from 19.5% to 15.1%.
Investors Sell a Portion of Certeum to Blackstone Real Estate Fund
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