Merck Sued by Sovereign Fund and Other Investors

Merck & Co., the second biggest U.S. pharmaceutical company, is being sued by a number of large institutional investors who opted out of a class-action securities lawsuit certified by a judge in January 2013. By opting out of the class action, these institutional investors are pursuing their own claims. [ Content protected for Sovereign Wealth [...]

SEEKING YIELD: GIC Acquired Interest in TCW Direct Lending

In December 2012, Los Angeles-based TCW Group purchased the special situations fund group from Boston-based Regiment Capital Advisors LP. TCW renamed the group, TCW Direct Lending. TCW desired to get into the direct lending business, to provide alternative sources of returns other than typical fixed income investments. TCW Direct Lending LLC is a senior secured [...]

BNY Mellon Manhattan

REVEALED: SEC Hits BNY Mellon on Alleged FCPA Violation

U.S. financial institutions are at greater risk of violating the U.S. Foreign Corrupt Practices Act (FCPA), as the Securities and Exchange Commission (SEC) increases staff resources and banks conduct more business overseas. It has been revealed publicly the SEC has issued Wells notices to a number of current and former employees of BNY Mellon. A [...]

This is Why Russia Has Sovereign Wealth Funds

In shaky times of economic crisis, it’s convenient for a country to have a massive pool of cash. Dogged by Western sanctions over Ukraine and a collapse in the price of oil, Russia’s economy is becoming more volatile. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

BlackRock NY

Is BlackRock Too Big?

With continued loose monetary policy and relatively less regulatory hurdles than banks and brokers, gargantuan U.S. asset management firms have financially prospered over the past years. According to an SEC filing, as of December 31, 2014, BlackRock reached US$ 4.652 trillion in assets under management. This monumental figure is an 8% increase from last year’s [...]

Maduell on CNBC: SWFs Have Helped Stabilize the Middle East

Prolonged low oil prices will impact the asset allocation of oil-based sovereign wealth funds. See the largest sovereign wealth funds here. Source: CNBC Arabia This is an interview between Michael Maduell, President of the Sovereign Wealth Fund Institute and CNBC Arabia. Date: January 15, 2015

Citigroup Banking

COURTS: Citigroup Fails to Block Second Arbitration Attempt by ADIA

The Abu Dhabi Investment Authority (ADIA) is not giving up on legally pursuing Citigroup over its November 2007 investment which cost the sovereign wealth fund billions. At that time, ADIA invested US$ 7.5 billion in exchange for a 4.9% stake in Citigroup. The Gulf-based sovereign wealth fund is using all legal options to recover its [...]

Sovereign Wealth and Superannuation Funds Lobby OECD for Tax Exemption

The Organization for Economic Co-operation and Development (OECD) is attempting to limit multinational tax avoidance and offshore tax evasion by having created the base erosion and profit sharing (BEPS) project. A 15-point action plan on BEPS has been developed and tax reform could take effect on January 1, 2017. The political momentum for adopting all [...]

top 10 gamechangers

Top 10 Sovereign Wealth Fund Game-Changers of 2014

Smart beta, healthcare investing, private equity, institutional real estate and multi-asset strategies were some popular themes for institutional investors in 2014. Highlighting the importance of sovereign investors, sovereign wealth funds surpassed US$ 7 trillion in assets, being a bigger investor market, in terms of asset under management, compared to U.S. defined-benefit plans. Year over year, [...]

Michael Maduell – Bold Predictions for 2015

The end of the year is a fantastic time for lists, rankings and predictions. If 2014 proved anything, it’s that guessing what’s going to happen in the world of asset owners is a vain and even slightly embarrassing endeavor. Indeed, who could have expected that sovereign wealth funds would reach US$ 7 trillion in assets, [...]

hedge funds

Our Hand-Selected 12 Popular SWFI Stories for 2014

The punctilious editorial staff of SWFI hand-selected 12 popular stories that have garnered high-traffic and social shares. Here is a roundup of 12 popular articles from this year. #1. 5 Things Sovereign Wealth Funds Won’t Tell You Sovereign wealth funds constantly make news headlines, buying infrastructure in the UK, acquiring a tech company with a [...]

SWFI Trend Report: Sovereign Wealth Fund Direct Healthcare Investments, 2013-2014

With Occidental nations growing older, increased costs in U.S. healthcare and consumer adoption of medical services in emerging markets, institutional investors have been allocating to this complex sector. Sovereign wealth funds have directly invested significant amounts of capital into the healthcare sector, not just in the U.S. and Europe, but toward Asia and the Middle [...]

The Landscape of Risk

This article is sponsored by S&P Dow Jones Indices. Risk is a complicated thing, and S&P Dow Jones Indices’ experience supporting the VIX® series of volatility measures, its continued work in the arena of low-volatility indices and its conversations with clients regarding risk reduction techniques continue to reveal new things about the way markets and [...]

Michael Maduell – A Reflection on 2014

2014 marks another fascinating, yet optimistic year in the interconnected world of asset owners. We have witnessed assets under management of sovereign wealth funds break the US$ 7 trillion mark. At the same time, global prices of oil have changed direction, China has surpassed the United States in gross domestic production and Bill Gross left [...]

United Nations Joint Staff Pension Fund Backs Low Carbon ETFs

Despite the timing of institutional investors genuine interest of low carbon investment strategies in a current environment of rapidly falling oil prices, a number of large pension investors remain committed to the approach. Buffer funds like Sweden’s AP4 has committed to “decarbonizing” its whole US$ 20 billion public equities portfolio. Service providers have developed exchange-traded [...]

Norway’s Sovereign Wealth Fund Walks Tightrope with Environmentalists

Norway’s sovereign fund which generates wealth from investment returns and fossil fuels will allocate an equivalent of 1% of its assets into environmental technology stocks – equating to about US$ 3 billion. At the end of 2013, the sovereign wealth fund held US$ 4.5 billion in green technology companies. NBIM CEO Yngve Slyngstad indicated on [...]

CHANGES: New CEO at Qatar Investment Authority

Sheikh Abdullah bin Mohammed bin Saud al-Thani, a member of the ruling family, will be the new chief at the Qatar Investment Authority (QIA), replacing Ahmed al-Sayed. This was announced on the official Qatar News Agency (QNA). Ahmed al-Sayed was the CEO of Qatar Holding before being appointed as CEO of the QIA in July [...]

Multi-Asset Demand Drives Institutional Business

To save the global economy, central bankers have played the free money melody, entrancing asset managers and asset owners such as sovereign wealth funds and public pensions. With probable shifts in key interest rates, institutional investors are re-examining new strategies and solutions. One of these solutions is multi-asset investing. For example, Latin American pension funds [...]

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 [...]