Connect with us

CIC Posts Massive 17.59% 2017 Return on Overseas Portfolio

Published

on

The China Investment Corporation (CIC) released its annual report for 2017. CIC’s overseas investments posting a record high of 17.59% net return denominated in U.S. dollar. However, by the end of 2017, CIC’s overseas investments had generated a net cumulative annualized return of 5.94%. CIC’s total assets had surpassed $941.4 billion and this includes the wealth fund’s large holdings in Chinese financial institutions through Central Huijin. By the December 2017, state-owned financial capital under Central Huijin’s management had reached RMB 4.1 trillion.

CIC continued to embrace the concept of a reference portfolio in 2017, as well as having 39.3% of its global investment portfolio allocated to alternative investments which includes infrastructure, hedge funds, private equity and real estate. CIC also got engaged in aligning a number of investments with the One Belt and One Road Initiative.

CIC also increased its internal management of assets from 33.89% to 37.4%.

GIC Supports CapitaLand Shanghai Investment on Haimen Road

Published

on

GIC Private Limited, Singapore’s sovereign wealth fund, has entered into a 50:50 joint venture with Raffles City China Investment Partners III (RCCIP III), a fund controlled by CapitaLand. The joint venture is acquiring Shanghai’s tallest twin towers for an aggregate consideration of RMB 12.8 billion (US$ 1.84 billion). The property is located in Shanghai’s core Central Business District.

Development Details

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

Continue Reading

Wells Fargo Could be Slimming Down, Possible Retirement Unit Sale

Published

on

Wells Fargo (WFC) is looking to exit the retirement plan servicing market, for a potential sale price of US$ 1 billion. The unit is involved in record-keeping, custody, trust details and various other retirement plan services for corporations. It is housed under the Wealth and Investment Management unit. The retirement plan servicing market is not particularly compelling for the bank, especially in light of the U.S. Department of Labor’s newer regulations to force managers to disclose compensation arrangements and fees to plan fiduciaries. Wells Fargo has been lauded for its loyal consumer base and high revenue, and doesn’t require the business, though recent scandals have been a drag on the company’s profitability and public image. This news has pre-empted some advisors to jump ship. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Mubadala Petroleum Signs Deal to Buy Interest in Nour North Sinai Offshore Area Concession

Published

on

Mubadala Petroleum, a division of Mubadala Investment Company, signed a deal to acquire a 20% percent participating interest in Egypt’s Nour North Sinai Offshore Area concession. The seller of the interest is a subsidiary of the Italian energy giant Eni. Eni holds an 85% stake in the partnership with Tharwa Petroleum Company, which holds a 15 percent interest. Formed in 2004, Tharwa Petroleum Company is 100% owned by the Egyptian government through a variety of state-owned entities such as the Egyptian General Petroleum Corporation (EGPC) at 20% and Egyptian National Gas Holding Company (EGAS) at 20%.

The sales transaction is subject to conditions, such as approval from government authorities in Egypt.

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.