Policy

SPIVA Europe Scorecard Mid-Year 2014: How Have Active Managers Fared in Europe?

This article is sponsored by S&P Dow Jones Indices. The active-versus-passive debate has been raging for years and, with strong opinions on both sides, this issue is likely to remain contentious. As a scorekeeper in this debate, S&P Dow Jones Indices (S&P DJI) has been publishing the S&P Indices Versus Active (SPIVA®) Scorecard since 2002. [...]


Governance and Santiago Principles Take Center Stage in Doha

Doha, Qatar’s capital city ripe with petrol wealth and ambitions of diversification whether it be tourism, housing, entertainment, insurance or retail, is home to a massive sovereign wealth fund called the Qatar Investment Authority (QIA). Under the previous and current Qatari emirs, gargantuan developments like The Pearl, Katara and infrastructure related to the upcoming 2022 [...]


Friday SWFI News Roundup, November 21, 2014

Bain Capital and Other Institutional Investors Keen on Virgin Cruises Private equity firm Bain Capital has agreed to be a key shareholder in Virgin Cruises, another transport venture by billionaire Sir Richard Branson. This new cruise-line venture will required hundreds of millions of dollars. The Virgin Group would invest more than US$ 100 million in [...]


Norway Sovereign Wealth Fund Embraces Block Size Trading

Norges Bank Investment Management (NBIM), the manager of Norway’s sovereign wealth fund, is using less algorithmic trading in favor of trading in large block sizes. By trading stocks in large block sizes, NBIM is trying to avoid pattern-reading from pollrumptious entities in the marketplace. Institutional investors like NBIM are market makers due to their majestic [...]


LIA Presses on with SocGen Suit

The Libyan Investment Authority’s case against Societe Generale SA is now underway. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Citigroup Banking

HANDS SLAPPED: 5 Banks Get Hit with Fines for Currency Manipulation

In a major crackdown, five major banks (UBS, RBS, HSBC, Citigroup and JPMorgan) have got hit with fines from various financial regulators. With regard to the UK’s Financial Conduct Authority (FCA), this is the largest set of charges ever levied by UK financial regulators. In total US$ 3.4 billion in fines were levied by the [...]


Public Release – 3Q 2014 Linaburg-Maduell Transparency Index Ratings

The third quarter results for 2014 on sovereign wealth fund transparency have now been released to the public. The Linaburg-Maduell Transparency Index was developed at the Sovereign Wealth Fund Institute by Carl Linaburg and Michael Maduell. The China Investment Corporation (CIC) moved from a 7 to an 8 rating. The Abu Dhabi Investment Authority (ADIA) [...]


Sovereign Wealth Funds Poised to Reach $7 Trillion by 2015

As of November 2014, sovereign wealth fund assets totaled US$ 6.977 trillion compared to US$ 6.106 trillion in December 2013. This nearly US$ 900 million increase can be attributed by improvements in investment returns and capital flows into sovereign wealth fund vehicles. In December 2007, sovereign wealth fund assets amounted to US$ 3.259 trillion. This [...]


GOP Takes Senate: How Will Institutional Investors Respond?

Yesterday, U.S. voters spoke across America during Election Day, giving the GOP control of the U.S. Senate. From various leading polls, Democrats knew they were in trouble weeks before election night. Democrat operatives felt last night’s election was a natural disaster, losing their majority in the Senate. Looking at current figures, Republicans are on the [...]


index investing

BIG CHANGES: World’s Largest Pension Fund Shifts Allocation

Japan’s Government Pension Investment Fund (GPIF), the steward of 67 million retirement participants, is embarking on a dramatic shift toward equities. The pension giant is cutting its allocation to domestic bonds, specifically Japanese government bonds (JGBs). Domestic bonds will go from 60% to 35%, a major change in allocation, over an unspecified period of time. [...]


Ireland

NPRF Allocates €350 Million to Strategic Banking Corporation of Ireland

Ireland’s National Pension Reserve Fund (NPRF), which has taken a strategic development focus post-global financial crisis, is providing capital to an entity to augment funding in Irish small-to-medium enterprises. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, October 31, 2014

Friday Roundups – Halloween Edition In London: We had over US$ 2.7 trillion in public asset owner capital in the audience. Photo: Gerard Lyons addressing delegates of asset managers, sovereign wealth funds, pensions and policymakers. Harrods Pays £118 Million Dividend to Qatar Holding Harrods, a luxury department business, paid a £118 million dividend to its [...]


ALMOST FLAT: Norway SWF Posts 0.1% for 3rd Quarter of 2014

Norway’s Government Pension Fund Global (GPFG) posted a 0.1% return for the third quarter of 2014. Equity investments posted -0.5% for the period, while fixed income posted 0.9%. Real estate investments for the period returned 1.5%. In a press release, Yngve Slyngstad, CEO of Norges Bank Investment Management (NBIM), stated, “Two quarters of strong returns [...]


dividends

5 Things Sovereign Wealth Funds Won’t Tell You

5.We Aren’t as Long-Term as Some Think Sovereign wealth funds constantly make news headlines, buying infrastructure in the UK, acquiring a tech company with a private equity fund or doling out large mandates to established money managers. The perception that sovereign funds are long-term in nature can rightfully be challenged. Take for instance Ireland’s National [...]


Ding Xuedong to Chair CICC

The chairman of China International Capital Corporation (CICC) officially resigned Thursday. Jin Liqun, formerly associated with the China Investment Corporation (CIC), will be leading a Chinese rival to the World Bank called the Asian Infrastructure Investment Bank (AIIB). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


BlackRock NY

BlackRock CEO Highlights Wealth Funds Not Leaving Equities

On CNBC’s show “Squawk Box” this morning, BlackRock CEO Larry Fink brought up that “he has not seen other than 1 major sovereign fund, sell equities in the last 6 weeks.” Fink explained that fast money and hedge funds are the actors of the recent activity in the stock market.[ Content protected for Sovereign Wealth [...]


Former Chinese Sovereign Fund Chair to Lead World Bank Rival

According to the International Monetary Fund (IMF), China recently passed over the United States to be the world’s largest economy according to their calculations. The IMF method used to calculate this uses adjustments for purchasing power parity. For instance, China makes up 16.48% of the world’s purchasing power-adjusted gross domestic product (GDP) versus the United [...]


GROW: Nigeria Sovereign Investment Authority Seeks to Manage up to $5 Billion

Officials from the Nigerian Federal Government are contemplating the addition of more capital to total US$ 5 billion for the Nigeria Sovereign Investment Authority (NSIA) to manage, the entity that manages three of Nigeria’s sovereign funds. Dr. Ngozi Okonjo-Iweala, Nigeria’s Finance Minister, briefed members on the sidelines of last week’s IMF/World Bank Annual Meeting in [...]


Citigroup Banking

US Supreme Court Rejects ADIA’s $7.5 Billion Citigroup Dispute

Yesterday, the U.S. Supreme Court rejected a move by the Abu Dhabi Investment Authority (ADIA) to resume pursuing New York-based Citigroup for funds lost in a US$ 7.5 billion investment. ADIA was one of a number of sovereign wealth funds that bailed out Wall Street.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. [...]


Press Release – SWFI Survey of Public Funds Shows Strong Interest in Smart Beta

FOR IMMEDIATE RELEASE Download PDF of Press Release Includes survey of 72 public institutions, including 16 SWFs, with over US$ 2.9 trillion in public investor capital represented. Interviews with 8 asset owners from 8 different countries with combined AUM of over US$ 250 billion. Additional research provided by four leading practitioner firms: Northern Trust Asset [...]