Policy

SPIVA Europe Scorecard: Measuring the Effectiveness of Passive Investing in Europe

This article is sponsored by S&P Dow Jones Indices. By Aye M. Soe, CFA Senior Director, Index Research & Design At the heart of the active versus passive management debate liesays the theoretical underpinning that the average return of both actively and passively managed assets must equal the aggregate market, thereby making it a zero-sum [...]


NMSIC Onboard: Sovereign Wealth Funds Adopting Smart Beta

The New Mexico State Investment Council (NMSIC) has embarked on a search for one or more smart beta managers to manage US$ 1 billion. The search is for two different types of smart beta managers: smart beta managers focusing on low volatility, and smart beta managers focusing on fundamental value strategies. The smart beta allocation [...]


Press Release – SWFI Establishes Event Advisory Board

FOR IMMEDIATE RELEASE 24 September 2014 TAMPA, FL, UNITED STATES Press Inquiry: bclasen@swfi.com Download PDF of Press Release TAMPA, FL. – 24 September, 2014 – The Sovereign Wealth Fund Institute (SWFI) has recently named 10 current and former executives and advisors from some of the largest public funds globally to its Event Advisory Board. Rinchinnyamyn [...]


Yngve Slyngstad

Looming Issues: NBIM Ponders Appropriate Benchmarks

Norges Bank Investment Management CEO Yngve Slyngstad gave some remarks on benchmarking at Norway’s Ministry of Finance, poking holes at current indexes. Norway’s Government Pension Fund Global derives its wealth from oil. The fund expanded into public equities in 1998 and in recent years institutional real estate. Norway’s sovereign wealth fund has added overseas real [...]


Texas Permanent School Fund Approves $900 Million in Active Quantitative EM Equities

Mandates on emerging market equities continue to proliferate among U.S. public funds. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Defense Counters: More Details Revealed in Goldman vs. LIA Trial

The US$ 1 billion lawsuit over the 9 “dubious” derivatives transactions between the Libyan Investment Authority (LIA) and Goldman Sachs has moved forward. Goldman Sachs has prepared for its defense, releasing nuggets of information refuting the LIA’s claims. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Kuwait Sovereign Wealth Fund Sees Increased Activity in Germany

The Kuwait Investment Authority (KIA) has been bullish on Germany for decades – moving billions into the country. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


It’s Official: CIC Shifts Executives, Lau Steps Down

The China Investment Corporation (CIC) appointed Guo Haoda to chair the Board of Supervisors. He replaces Li Xiaopeng. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


3 Trends Forcing Sovereign Funds to Rethink Tactical Asset Allocation

On September 15, Paris-based Organization for Economic Cooperation and Development (OECD) chopped its economic growth forecast for the United States and other large developed countries. The OECD painted a picture of the Eurozone facing very low inflation rates, pushing back demand and heightening unemployment. There is amplified divergence occurring in economic markets. Some countries are [...]


NZ Labour Party Cunliffe Unveils Sovereign Wealth Plan

Politics is heating up in New Zealand as the opposition party unveiled some new elements to their platform. New Zealand’s Labour Party, headed by leader David Cunliffe, wants to establish a sovereign wealth fund to invest in new companies. Cunliffe, a sitting member of NZ parliament, representing New Lynn, West Auckland, mentioned the companies also [...]


India deals

Singapore Sovereign Wealth Centers on the Indian Consumer

Singapore sovereign wealth fund Temasek Holdings has been pursuing opportunities in India’s consumer sector. With a regional office in Mumbai, Temasek is gearing up for more deals. Temasek is likely to make a bid for New Delhi-based Devyani International, a store operator of KFC, Pizza Hut and Costa Coffee locations in India. [ Content protected [...]


Sovereign Wealth Funds and Russia

Putin to Limit Usage of Russia’s Sovereign Fund

Russian President Vladimir Putin mentioned on September 1, 2014, that Russia cannot spend more of its National Welfare Fund on growing capital expenditures. This is after the Russian government augmented the cap on the amount allocated toward domestic investments. 40% of the National Welfare Fund can be spent on domestic investments. The Ukraine conflict has [...]


ADIA Hires: Tipple to be First Global Head of External Equities

The Abu Dhabi Investment Authority (ADIA) has chosen Brian Tipple to be its first global head of external equities. Tipple will assist ADIA’s senior management in developing strategies and overseeing a massive number of externally-managed portfolios. Based in Abu Dhabi, Tipple will report to the executive director of external equities, Obaid Al Suwaidi. View the [...]


Tonga Passes Seabed Minerals Act 2014

The Pacific countries of Papua New Guinea, Fiji, Tonga and the Solomon Islands have lured potential businesses to explore their seabeds for mineral extraction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Alabama Trust Fund Hires 4 Active Managers, Terminates 2

The US$ 2.8 billion Alabama Trust Fund has hired four investment managers to run an active international equity strategy. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Direct Institutional Investors: Why Sovereign Wealth Funds and Pensions are Important

Source: Sovereign Wealth Fund Transaction Database – August 2014 Note: SWFs make up a near majority in this analysis. The Sovereign Wealth Fund Institute (SWFI) tracks direct public asset owner investment flows. Public asset owners are becoming bigger players in the capital markets. Increasingly, public asset owners are increasing assets, investing more directly, hiring more [...]


EMERGING: 59 Chinese Companies Back National Private Investment Company

A significant development in privatization efforts has occurred in Shanghai, in which an official national private investment company has raised a sizable amount of capital. The Chinese regulator approved the registration of the investment company on March 24, 2014. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. [...]


Norway Sovereign Wealth Fund Approaching $900 Billion

For the second quarter of 2014, Norway’s Government Pension Fund Global (GPFG) returned 3.3%. For that time period, equity investments returned 4.01%, fixed income 2.04% and real estate 3.04%. 61.3% of the sovereign fund is invested in equities, 37.6% in fixed income and 1.2% in real estate. Norges Bank Investment Management (NBIM) has split up [...]


Goldman Sachs Abandons Bid, LIA Trial Will Move Forward

Goldman Sachs has abandoned its attempt to have the courts drop the Libyan Investment Authority’s (LIA) case. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, August 15, 2014

Malaysian Airlines to be Fully Acquired by Khazanah Nasional The plagued Asian airlines, Malaysia Airlines, is going to be taken private by Khazanah Nasional, the country’s sovereign wealth fund. The carrier has suffered tremendously after two key disasters in a four month span. Khazanah is currently the largest shareholder in the airlines with a 69% [...]