Policy

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 [...]


AP1, Qatar Holding Invest US$ 340 Million in Ackman’s Pershing Square

Pershing Square Holdings Ltd raised US$ 2.7 billion in a European initial public offering with a substantial portion of the capital coming from two public investors: Qatar Holding LLC and the Swedish pension Forsta Ap-Fonden (AP1). Pershing Square Holdings Ltd is part of activist investor Bill Ackman’s suite of products. Ackman is the founder of [...]


Press Release – Public Investor 100 Rankings Released for 2014

FOR IMMEDIATE RELEASE 2 October 2014 SEATTLE, WA, UNITED STATES Press Inquiry: vberretta@swfinstitute.org SEATTLE, WA. – 2 October 2014 – The Sovereign Wealth Fund Institute (SWFI) has just released its second annual Public Investor 100. The list includes the most significant and impactful public investor executives of 2014. The top 10 ranking assembles the most [...]


Qatar Wealth Looks to Turkish Food Sector

Hassad Food, a sovereign wealth enterprise of the Qatar Investment Authority (QIA), is honing its efforts into Turkey’s food sector. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


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 lies 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. ]