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Equity Gains at Risk for Sovereign Wealth Funds

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Sovereign funds have had a strong comeback in public equities this year; however, those gains are at risk. Funds like Norway’s Oil Fund, the Alaska Permanent Fund, and the Abu Dhabi Investment Authority are greatly affected by global public equity performance. Sovereign wealth funds are long term investors that can weather the storm, but by no means are investment staff at these governmental funds not worried. Short-term performance puts tremendous pressure and strain on investment committees and boards. External fund managers for sovereign funds are on tight watch on how they perform in these challenging markets.

Funds exposed to passive investment strategies in U.S. markets are at most risk.

On Monday, U.S. stocks have fallen sharply and analysts predict this will be a horrible week for equities. Sovereign wealth funds such as the China Investment Corporation were not caught off hand by Standard and Poor’s downgrade on the United States.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Alibaba Invests in Series C in 1919 Wines

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On October 18, 2018, Alibaba Group Holding Limited, through Alibaba (China) Network Technology Co., Ltd, invested some 2,000,000,065.08 RMB (US$ 288,447,000) for 39,277,299 shares in a Series C round into 1919 Wines & Spirits Platform Technology Co., Ltd., a Chinese alcohol beverage e-commerce retailer. Post-deal, Alibaba owns about 29% of the company shares and became the second largest shareholder of 1919 Wines. The transaction values 1919 Wines at 7 billion RMB.

GF Securities Co., Ltd. advised 1919 Wines on the transaction.

Formed in 2010, 1919 Wines is based in Chengdu. 1919 Wines owns retail portals, phone apps, and offline stores.

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Nomura and CIC Contemplate Joint Investment Fund

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Japan-based Nomura Holdings is in talks with the China Investment Corporation (CIC) on forming a new investment fund. The fund could be receive commitments up to US$ 1 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek Holdings Dumps More of Celltrion

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On October 22, 2018, Singapore’s Temasek Holdings, through its sovereign wealth enterprise (SWE) Ion Investments, entered into its second block deal in selling shares in Celltrion, a South Korean bio-pharmaceutical company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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