AIMCo and VRS Secure Recovery in MF Global

Alberta Investment Management Corporation (AIMCo), which manages many funds including Alberta’s Heritage Fund, together with the Virginia Retirement System (VRS) has successfully recovered US$ 204.4 million on behalf of investors in the now-defunct broker-dealer MF Global. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

U.S. House Passes Bill to Limit Fed Power, Obama Plans to Veto

The U.S. House of Representatives passed legislation for reforms at the U.S. Federal Reserve. H.R. 3189, the Fed Oversight Reform and Modernization Act of 2015 passed along party lines, with two Democrats voting for the bill. The vote was 241 (yes) and 185 (no). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. [...]

3 Ways Asset Owners Are Preparing for Slower Global Growth in Fixed Income

Last week, the Organization for Economic Co-operation and Development (OECD) lowered its estimate on worldwide gross domestic product for a second time in three months. OECD forecasted the global economy would grow by 2.9% versus 3% this year – and a lower 3.3% in 2016 from 3.6%. A major reason for the revised projection is [...]

ATP Blacklists Seven New Companies for Mines and Cluster Bombs

Denmark’s ATP has blacklisted a number of companies with ties to manufacturing cluster bombs and land mines. ATP added seven listed companies to the “do-not-invest” bucket it will not invest in. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Asian Wealth Funds Say They Need External Managers

For many sovereign wealth funds, even the big ones, external fund managers play a central role in asset management. This is why asset management giants like Amundi, BlackRock and Northern Trust Asset Management have invested monetary and personnel resources across Asia. Whether its adopting a smart beta strategy, implementing risk parity, or hiring a country [...]

SWFI First Read, November 8, 2015

Institutional Investors Examine Northern Australia Australia’s far north has received far fewer infrastructure investments compared to other regions of the country. However, the north attributed with a more tropical climate, has drawn the attention of some mega institutional investors and global corporations. Australian Minister for Trade and Investment Andrew Robb is hoping the 3-day Northern [...]

Proposed EXIM Amendments Include Sovereign Wealth Fund Language

Eyed by many members of U.S. Congress as corporate welfare, U.S. Export-Import Bank (EXIM) has a number of prominent backers including U.S. Representative Maxine Waters – CA. These individuals are trying to curtail U.S. House amendments. EXIM’s charter has expired since June 30, 2015. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. [...]

SWFI Completes First Annual Fixed Income Asset Manager Perception Study

SEATTLE, Wash. – 3 November 2015 – SWFI has released its first annual perception study on asset managers focusing on fixed income with regard to global asset owners. The study was conducted over a period of six months starting in May 2015. The results shed light on where asset owners’ fixed income managers are ranked [...]

3 Key Takeaways at SWFI’s Institute Fund Summit Europe in Amsterdam

Walking the streets of Amsterdam, often you must traverse across three lanes to make it to the sidewalk – two for automobiles and one for bicycles. It provides an apt metaphor – investors often see the cars, but fail to calculate the risk when crossing the third bicycle lane. SWFI recently held its fourth annual [...]

Norway Wealth Fund Was Hammered by Asian Equities

Norway’s sovereign wealth fund, managed by Norges Bank Investment Management (NBIM), had a rough third quarter, posting a portfolio loss of -4.9%. Listed equities contributed a -8.6% return for the quarter, while real estate returned 3%. Overall, listed equities have provided a challenging environment for public institutional investors. Listed equities in Japan for NBIM returned [...]

Volkswagen Reports €3.48 Billion Loss for 3Q

Volkswagen AG has reported a €3.48 billion ($3.85 billion) operating loss for the third quarter. Some of the largest investors in Volkswagen include the Qatar Investment Authority (QIA). The operating loss of €3.48 billion compares directly to a €3.23 billion profit a year ago. Volkswagen is the biggest automobile manufacturer in Europe, impacting numerous countries [...]

Volkswagen Prepping For Wave of Institutional Investor Lawsuits

Since the U.S. Environmental Protection Agency (EPA) announced Volkswagen AG had used a “defeat device,” as defined by the U.S. Clean Air Act, in a portion of its diesel automobiles, the stock has taken a significant hit. Shareholder losses have been estimated at €40 billion. The legal liability appears to go back to 2009, adding [...]

SWFI – Movers and Shakers – October 21, 2015

Future Fund Hires AP4 Veteran to Head Equities Australia’s Future Fund has hired Bjorn Kvarnskog to be its new head of equities in early 2016. Kvarnskog served as global head of equities at AP4, one of Sweden’s buffer funds. He will relocate from Stockholm to Melbourne. Acting head of equities Sarah Carne will return to [...]

SWFI First Read, October 8, 2015

ValueCap Getting Ready for November Purchases ValueCap Sdn Bhd, a Malayisan state-owned investor, plans to purchase undervalued stocks on Bursa Malaysia starting in November. This is a move to provide financial stability in Malaysian capital markets. ValueCap Sdn Bhd is owned by three investors, Khazanah Nasional, KWAP and Permodalan Nasional. These investors will be kicking [...]

Press Release – Public Investor 100 Rankings Released for 2015

FOR IMMEDIATE RELEASE 30 September 2015 SEATTLE, WA, UNITED STATES Press Inquiry: vberretta@swfinstitute.org SEATTLE, WA. – 30 September 2015 – The Sovereign Wealth Fund Institute (SWFI) has just released its third annual Public Investor 100. The list includes the most significant and impactful public investor executives of 2015. The top 10 ranking assembles the most [...]

Temasek International Names CEO

Singapore’s Temasek Holdings has appointed a chief executive officer for Temasek International (TI), the over-arching management unit of Temasek Holdings. Formed in 2011, all of Temasek’s staff minus the CEO and CFO was moved into TI. Lee Theng Kiat was named CEO if TI starting October 1, 2015. Lee Theng Kiat will oversee Temasek’s commercial [...]

ICAHN WARNS: Market is Extremely Overheated

  See his video here: Danger Ahead Wall Street billionaire Carl Icahn, in a new video, “Danger Ahead,” tells a story of the upcoming problems that have sprung from Washington DC and Wall Street. In the video, Icahn explains why Republican candidate Donald Trump is popular in the polls. Icahn also addresses the carried-interest tax [...]

With Great Pleasure

This is the third year SWFI has constructed its Public Investor 100 list, a ranking of top public fund and government executives compiled by SWFI staff. This list (will be released soon) is intended to highlight executives who have had a notable impact on the industry and/or their specific organization. Coming up with the top [...]

Prosper Acquires BillGuard

There was a time when peer-to-peer lending networks were considered fringe. Once purely described as marketplace lending, these networks allow nonbank institutions to lend to people and businesses online. But the way consumers’ access loans have evolved since then. For years these networks have grown in loans underwritten. In JP Morgan’s April letter to shareholders, [...]

BofA CEO Gets to Keep Chairman Role

A majority of shareholders backed Bank of America board’s decision to let Brian T. Moynihan hold both roles of chairman and chief executive officer. 63% of the shareholders’ votes cast approved Moynihan’s dual roles. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]