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Early Stage Analysis for Filipino Sovereign Fund

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Amando M. Tetangco, Jr.

Amando M. Tetangco, Jr.

In the Philippines, monetary officials are in early stages in analyzing whether to establish a sovereign wealth fund. The Asian country has prospered with foreign reserve growth. The Bangko Sentral ng Pilipinas would sell U.S. dollars to the Philippine government to fund the proposed sovereign fund. With legal constraints stemming from the central bank, the Philippine government has the option of establishing a separate entity to manage the proposed sovereign fund. Another option would be to amend the central bank’s charter.

Philippines – Total Reserves includes Gold

Year Current USD in Billions
2003 17.08
2004 16.23
2005 18.47
2006 22.96
2007 33.74
2008 37.50
2009 44.21
2010 62.33
2011 75.12

Source: World Bank

Ascendas-Singbridge Acquires Three Hotels in Osaka

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Singapore’s Ascendas-Singbridge has acquired three hotels in Osaka for 10.29 billion JPY to tap tourism growth in Japan’s third-largest city.

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BlackRock Contemplates Stake in Eurizon

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Asset management giant BlackRock is contemplating purchasing a 30% ownership stake in Intesa SanPaolo’s asset management unit called Eurizon Capital SGR S.p.A. BlackRock is keen on growing its technology business and increase market adoption of its Aladdin platform.

Intesa has been working with UBS to seek out strategic options for Eurizon. Intesa is keen on maintaining control over Eurizon.

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SWFI First Read, June 22, 2018

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JPMorgan Fund Buys 40% of Oxford Properties’ French Portfolio

A fund advised by JP Morgan Asset Management committed €400 million in Oxford Properties’ French portfolio. Essentially, Oxford Properties sold a 49.9% non-managing interest in 32 Rue Blanche, 92 Avenue de France and Paris Bastille. Oxford Properties made its maiden investment in Paris in 2014 when it acquired 32 Rue Blanche.

Oxford Properties is the real estate unit of OMERS.

Temasek Explores Further Cash Commitments to FirstCry

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