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December Sovereign Wealth Fund and Public Pension Personnel Changes

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Michael Latimer

Michael Latimer

Among personnel changes such as David Gonski leaving the chair at the Future Fund for the ANZ Bank chair, the Ontario Municipal Employees’ Retirement System (OMERS) CEO Michael Nobrega is retiring at the end of March 2014. OMERS current chief investment officer, Michael Latimer, will take over as CEO after Nobrega retires. Nobrega became CEO of OMERS in 2007.

Michael Latimer has been CIO since 2010. Before that he was CEO of Oxford Properties Group, the real estate division of OMERS.

Australia’s Future Fund
Craig Dandurand, portfolio manager for CalPERS Absolute Return Strategies (ARS), is leaving after a thirteen year career to head to the Future Fund. As director of debt and alternatives, Dandurand will be reporting to David George who is head of debt and alternatives at Australia’s Future Fund.

Ohio State Teachers’ Retirement System
In the New Year, John Morrow will become deputy executive director-investments and chief investment officer of the Ohio State Teachers’ Retirement System. Stephen Mitchell who currently holds the post will be retiring before the end of the year at the US$ 68 billion pension fund. Mitchell joined the pension in 1971.

International Forum of Sovereign Wealth Funds
On October 2, 2013, members at the International Forum of Sovereign Wealth Funds (IFSWF) decided to expand their board. They elected Majed Al Romaithi, the executive director of real estate and infrastructure at the Abu Dhabi Investment Authority and Rod Matheson, the assistant deputy minister of the treasury at the Alberta Treasury Board and Finance.

California State Teachers’ Retirement System (CalSTRS)
On December 11, 2013, CalSTRS appointed Sandy Blair to head the office overseeing the voluntary defined contribution plan, known as Pension2®. Blair will administer the CalSTRS Pension2 personal wealth plan, which consists of 403(b), 457 and Roth 403(b) plans.

Saudi Aramco and PIF See Opportunities in Russia

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Saudi Arabia’s Public Investment Fund (PIF) is currently exploring opportunities within Russia. PIF is working with the Russian Direct Investment Fund (RDIF) on a number of fronts. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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HNA Group Aims to Shrink and Sell

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Chinese conglomerate HNA Group is on a selling spree due to an order from the government in Beijing to scale back on debt. HNA Group joins Anbang Insurance Group and Dalian Wanda Group in deleveraging from global assets, particularly in hotels and real estate. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Central Bank of Hungary Buys Mounds of Gold

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In October, the Central Bank of Hungary (MNB) boosted its gold reserves by 10 times, from 3.1 tons to 31.5 tons. This was revealed on October 16, 2018. The gold acquired by the central bank in October has a holding value of US$ 1.24 billion.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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