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APFC Board Gives Approval to Single-Family Homes Strategy

Mike Burns

According to the permanent fund’s press release, “The Alaska Permanent Fund Corporation Board of Trustees gave final approval to a $400 million allocation to purchase foreclosed homes at a special meeting on Tuesday via teleconference. The Board had given preliminary approval to the allocation, pending further negotiations, at its regular meeting in May.

American Homes 4 Rent LLC, which already owns 1,000 single family homes, will purchase packages of vacant homes across the U.S. and manage those homes as rental properties. The Fund, which will not purchase or directly manage any of the properties, will provide up to $400 million to American Homes 4 Rent to be used in executing this strategy.

‘The Board looked over the final terms of the contract between the APFC and American Homes 4 Rent, and were satisfied that the approval they gave to this allocation in May should stand,’ said Michael J. Burns, CEO. ‘We look forward to partnering with American Homes 4 Rent in this unique investment opportunity.'”

Read more: APFC Press Release

UNICEF and NBIM to Host Meetings on Children’s Human Rights

The United Nations Children’s Fund (UNICEF), a United Nations programme headquartered in New York City, has partnered with Norges Bank Investment Management (NBIM) to facilitate a series of meetings between companies to discuss issues surrounding children’s human rights.

According to the news release, “the network will facilitate dialogue between leading brands and retailers in the garment and footwear industry to strengthen children’s rights.”

NBIM is invested in many listed companies and have invited them to join a network to tackle these issues. Over the next two years, the organizations plan to hold three workshops as well as quarterly meetings surrounding these issues.

“Over time, we hope and expect that the network will contribute to improved market practices among companies and greater respect for children’s rights,” says Carine Smith Ihenacho, Global Head of Ownership Strategies, in a NBIM press release.

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SouthGobi’s CEO Arrested, CIC Struggles with Investment

The China Investment Corporation (CIC) has long struggled with its investments in coal assets, specifically in globally-listed coal miner SouthGobi Resources Ltd, which operates its flagship coal mine in Mongolia. In November 2009, CIC and SouthGobi Resources inked a convertible debenture deal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Qatar Central Bank Deals with MSCI

MSCI, a stock index company whose benchmarks influence investor behavior, has tremendous indirect power impacting the stock markets of smaller economies. In 1988, MSCI released its emerging markets index, a now-widely-used benchmark for many institutional investors wanting access to growth markets. China and South Korea make up the majority of the benchmark, but smaller economies such as Poland, Chile and even Qatar make up other pieces of it.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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