Policy

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% [...]


China Investment Corporation Releases Annual Report

For 2013, the US$ 652.7 billion China Investment Corporation’s subsidiary, CIC International Co. Ltd., achieved a net income ratio of 9.33%. This is a decline from 2012, which posted a 10.6% rate. Since the CIC’s inception, the cumulative annualized return is 5.7%. The CIC had some major allocation shifts. For example, the sovereign wealth fund [...]


Future Fund to Award A$ 500 Million High-Yield Mandate

Australia’s Future Fund is reportedly allocating an additional A$ 500 million (US$ 463 million) to Sankaty Advisors LLC to invest in high-yield debt. Sankaty Advisors, the credit arm of Bain Capital LLC, is already a manager of the Future Fund’s high-yield debt strategy. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please [...]


Michael Ryan to Head Public Equities for Harvard

Harvard Management Company, which manages the endowment for Harvard University, has tapped Michael Ryan to lead its public equity team. Ryan will report to Stephen Blyth, managing director and head of public markets. Ryan will start in September 2014. The $32.7 billion endowment fund wants Ryan to manage the endowment’s global equities portfolio and work [...]


Sovereign Wealth Funds and Russia

Sovereign Wealth Funds React Differently on EU’s Russian Sanctions

Sovereign wealth funds in recent years have made significant investment strides into Russia – betting on Russian real estate, bonds and equities. Russia is one of the BRICS. Norges Bank Investment Management (NBIM), the body that manages Norway’s sovereign wealth, has invested in Russian share sales and other companies within Russia. VTB, one of Russia’s [...]


Dhanabalan Rejoins GIC Private Limited’s Board

Suppiah Dhanabalan, a former Singaporean politician, has been appointed as a director to the board of GIC Private Limited. This is effective August 1, 2014. Dhanabalan served the GIC Board from 1981 to 2005. Dhanabalan was the chairman of Temasek Holdings for nearly 17 years, starting on September 30, 1996. He was succeeded by Lim [...]


Khazanah Buys Stake in Ipca, Regardless of FDA Query

Malaysia’s Khazanah Nasional Berhad invested approximately US$ 40 million for a small interest in Mumbai-based Ipca Laboratories Ltd. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]