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Apple Crushes Earnings, Sovereign Funds Look to Xiaomi

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Apple, the maker of many I-things, like the iPad, iPhone and iPod, delivered strong earnings. Apple’s revenue topped at US$ 74.6 billion and US$ 3.06 in earnings per share. 74.5 million iPhones were sold, up 46% compared to the previous year. Equity research analysts expected only 65 million iPhones to be sold. iPhone revenue was US$ 51.2 billion, being the largest contributor of company revenue. Furthermore, Greater China had significant revenue for Apple. On January 27th, Apple had its earnings call in which CEO Tim Cook said, “Apple has reported another historic quarter, demand for iPhone is ‘staggering.’ This volume is hard to comprehend.”

By analyzing company revenue growth, Apple’s biggest growth market is China. Apple will end up facing a rising Xiaomi.

Apple Inc – Q1 2015 Unaudited Data – Revenue in Millions USD

Operating Segments Q1, Y2015 Q4, Y2014 Q1, Y2014
Americas 30,566 19,750 24,789
Europe 17,214 10,350 14,335
Greater China 16,144 6,292 9,496
Japan 5,448 3,595 5,045
Rest of APAC 5,227 2,136 3,929
Total APPLE 74,599 42,123 57,594

 

Across the Pacific, smartphone maker Xiaomi has analyzed its Western competitor Apple. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Funds and Ownership, KKR Partners with Shinhan Financial

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South Korean financial giant Shinhan Financial Group Co., Ltd. reached a preliminary agreement with KKR & Co. to form a series of global buyout funds that could raise up to 5 trillion KRW. KKR and Shinhan signed a Memorandum of Understanding (MoU) in Seoul in early October. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Norwegian Government Recommends SWF Remains at Central Bank

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There was speculation that Norway Government Pension Fund Global (GPFG) could be managed outside of Norges Bank. The Norwegian government shot down this idea and recommended Norway’s GPFG remain in Norges Bank. This recommendation came in the form of a white paper submitted to the Norwegian Parliament, Stortinget.

Norway’s Minister of Finance Siv Jensen, commented in a press release, “The Government proposes a new and modernised governance structure for Norges Bank. Moving forward, this new structure lays the foundations for the sound management of the central bank and of the GPFG.”

Some Central Bank Recommendations

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Invesco Buys OppenheimerFunds for $5.7 Billion

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Invesco Ltd. signed a deal to acquire OppenheimerFunds, Inc. from Massachusetts Mutual Life Insurance Company (MassMutual). In turn, MassMutual and the OppenheimerFunds employee shareholders will receive a combination of common and preferred equity consideration, and MassMutual will become a significant shareholder in Invesco, with an approximate 15.5% stake. This strategic transaction will bring Invesco’s total assets under management (AUM) to more than US$ 1.2 trillion. The transaction is expected to close in the second quarter of 2019, pending necessary regulatory and other third-party approvals. The transaction gives Invesco access to more third-party distribution platforms.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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