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ADIA has no plan to cut Europe exposure

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According to Reuters, “The Abu Dhabi Investment Authority (ADIA) is not planning to cut its exposure to debt-ridden Europe, saying a stable regulatory, legal and tax framework make it an attractive place to invest.

“No, (we) maintain a stable view,” Jean-Paul Villain, strategy unit head at ADIA, told Reuters when asked whether the fund was looking to reduce its exposure in the face of Europe’s debt crisis. “These markets are efficient,” he said.

Sovereign funds, which together manage around $3 trillion of assets, are turning aggressive after cutting back their holdings in 2008 at the height of the credit crisis when they lost billions on banks such as UBS and Citigroup.  Speaking to Reuters on the sidelines of the Europlace Financial Forum in Paris, Villain said developed markets still offered attractions.

“The legal framework and tax framework is very stable. If you buy an infrastructure asset in the UK (for example), you have a clear … structure of regulation,” the former BNP Paribas executive said.

ADIA has assets of between $500 billion and $700 billion with investments ranging from Citigroup bonds to a stake in Britain’s Gatwick Airport.  State-owned ADIA invests funds generated by the United Arab Emirates, the world’s third-largest oil exporter, into overseas stocks and bonds as a means of diversifying away from the hydrocarbons sector.”

Read more: Reuters

ADIA Seeks to Sell KIC Headquarters

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The Abu Dhabi Investment Authority (ADIA) is seeking to sell the building that houses the headquarters of the Korea Investment Corporation (KIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BMO and OTPP Test Blockchain Canadian Dollar Debt Deal

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The Bank of Montreal (BMO) and the Ontario Teachers’ Pension Plan (OTPP) participated in a landmark blockchain Canadian-dollar debt transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Just Group Acquires Corinthian Pension Consulting

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Just Group plc acquired a 75% ownership stake in the holding company of Corinthian Pension Consulting Limited (Corinthian Pension Consulting). Operating in the institutional world for over 12 years, Corinthian Pension Consulting provides advisory services to defined-benefit pension scheme trustees and scheme sponsors undertaking bulk scheme exercises. The remaining 25% will be retained by current shareholders of Corinthian Pension Consulting. Robert MacGregor will continue to lead Corinthian Pension Consulting, as its Chief Executive Officer. Furthermore, Corinthian Benefits Consulting Limited and Corinthian Affinity Solutions Limited will continue to operate as before, becoming part of a newly formed holding company, Corinthian Group Holdings Limited.

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