Central Banking

EIA Chief Mansouri to be New Governor of UAE Central Bank

Mubarak Rashid al-Mansouri, the CEO of Emirates Investment Authority (EIA), has been chosen to be the new Governor of the UAE Central Bank. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI – Movers and Shakers – September 22, 2014

Charles Plosser to Retire Philadelphia Federal Reserve President Charles Plosser is set to retire. He has been a vocal critic of quantitative easing. He will leave the FOMC in March 2015. Plosser was an economics professor at the University of Rochester and former dean of the University of Rochester Simon Business School. He was the [...]


Libya’s New Majlis al-Nuwaab Fires Central Bank Governor

Libya’s Majlis al-Nuwaab or known in the West as “House of Representatives”, which is exiled in the Eastern city of Tobruk, has fired the central bank governor on September 14, 2014. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Moving Forward: Congo’s Determination to Create a Sovereign Wealth Fund

Staff members at the International Monetary Fund (IMF) urged Congo government officials to work with the Bank of Central African States (BEAC) to achieve agreement on reserve management policies. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Albania’s Central Bank Governor Arrested at Office Over Theft Fiasco

On September 5, 2014, Albania’s central bank governor Ardian Fullani was arrested that evening at his office. Albanian prosecutors charged Fullani with “abuse of office” and theft of more than 713 million lek (US$ 6.63 million) from the central bank’s vaults. The theft was reported during the summer. Fullani is the 17th Bank of Albania [...]


CME Heavily Targeting Central Banks

Increasingly, American exchanges are pursuing non-traditional sources of money, such as overseas central banks and sovereign wealth funds. The drastic drops in exchange trading volumes for cash products has caused these exchanges to refocus parts of their marketing efforts. Read Modifications to Central Bank Incentive Program – CME Group [ Content protected for Sovereign Wealth [...]


emerging markets sovereign wealth funds

RDIF Anticipates Possible Effects of Western Sanctions

In the not so distant past, the Russian Direct Investment Fund (RDIF) has been strategically forming investor alliances in both the East and the West. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Central Huijin Takes a Gander at Euro Banks

State-owned Central Huijin Investment Ltd. is looking to expand its holdings toward European bank investments. Central Huijin vice-chairman Li Jiange made the comment on September 3, 2014 at a banking conference in Germany. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


How Zimbabwe Will Try to Restore Stability to the Financial Sector

Zimbabwe, a country with no currency, is struggling to keep its financial sector afloat. After battling hyperinflation, the U.S. dollar and South Africa rand are the most commonly-used currencies in the African nation. Zimbabwean banks were loose with lending capital to local businesses after the country began heavily adopting foreign currency as tender.[ Content protected [...]


Bulgarian National Bank Wants Rescue Plan By End of August

Bulgarian National Bank, the central bank of Bulgaria, demanded the two largest shareholders of Corporate Commercial Bank (Corpbank) to develop plans for a bank rescue by the end of August. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


BlackRock NY

BlackRock Institute Names Boivin as Deputy Chief Investment Strategist

The BlackRock Investment Institute, a research platform of BlackRock Inc., nominated Jean Boivin as deputy chief investment strategist. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Can Institutional Investors Rely on Equities for Income?

The drawn-out low-yield environment has frustrated institutional investors to the point of them allocating capital again to leveraged loans, mortgage-backed securities and private debt securities. PIMCO founder Bill Gross’ August 2014 investment outlook, “Goodnight Vietnam“, highlighted that, “Capital gains from almost all asset classes are approaching dusk. Low but relatively dependable income will be the [...]


IMF Thinks Macau Needs a Sovereign Wealth Fund

The International Monetary Fund (IMF) keenly believes Macau should have a sovereign wealth fund to protect itself from economic and social headwinds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Taiwan Central Bank: FX Reserves Not for Sovereign Wealth Fund

Taiwan’s central bank, Central Bank of the Republic of China (Taiwan), said it would not be appropriate to transfer the country’s foreign exchange reserves into a sovereign wealth fund. As of June 2014, Taiwan’s foreign exchange reserves stood at US$ 423.45 billion. The central bank stated that 71% of those reserves are allocated to domestic [...]


Huarong Attracts Goldman Sachs and Khazanah Nasional

China Huarong Asset Management Co. is finalizing on a deal to sell an approximate a 20% stake to a group of investors which include Goldman Sachs and Malaysia’s Khazanah Nasional for US$ 2 billion. Huarong, one of China’s four asset management firms created in 1999, is looking forward to a future initial public offering and [...]


Oman Looks to Protect its Investment in Bulgarian Bank

Oman’s State General Reserve Fund (SGRF) is playing a pivotal role in the world of Bulgarian banks. The SGRF is reaching out to other large shareholders to put together a plan to help Bulgaria’s Corporate Commercial Bank – #4 bank in the country by assets. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers [...]


BRICS Making a Bank, RDIF Gets Involved

The BRICS (Brazil, Russia, India, China and South Africa) nations are making their own bank – countering the influence of the International Monetary Fund (IMF). The BRICS member nations have been disappointed with the non-implementation of the 2010 IMF reforms. Leaders of the nations signed an agreement to create the New Development Bank (NDB) to [...]


Academic-Led Study Says Professors on Boards Help Performance

Are corporate directors from the academic world effective board members? A discussion paper concludes that companies that have directors from the academic world (specifically non-administrative academics) are associated with higher performance. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Sovereign Wealth Funds and Russia

REBOUND: Foreign Institutional Investors Buy More of Moscow Exchange

The Central Bank of Russia is selling a stake of the Moscow Exchange to a consortium of institutional investors led by the Russian Direct Investment Fund (RDIF). The RDIF was a cornerstone investor in the Moscow Exchange’s initial public offering back in February 2013. Institutional Investors [ Content protected for Sovereign Wealth Fund Institute Standard [...]


Stronger Ties: Singapore PM in US for Strategic Economic Talks

On June 23, Singapore Prime Minister Lee Hsien Loong met with U.S. Commerce Secretary Penny Pritzker to talk about investment opportunities in America that Singapore can partake in. Both of Singapore’s sovereign wealth funds, Temasek Holdings and GIC Private Limited, are active direct institutional investors in North America.[ Content protected for Sovereign Wealth Fund Institute [...]