Friday SWFI News Roundup, May 20, 2016

MOODY’S: U.S. Tech Giants Hold Massive Pools of Cash

Ratings agency Moody’s Investors Service put out a study showing that Apple, Microsoft, Alphabet (formerly called Google), Cisco Systems and Oracle are sitting on US$ 504 billion, or 30%, of the US$ 1.7 trillion in cash and cash equivalents held by U.S. non-financial companies in 2015. The cash concentration is higher in 2015 compared to 2014, in which the companies mentioned held 27% of cash and 25% of cash in 2013.

December 2015 – Financial Data – Cash in Billions

    Apple, AAPL, US$ 215.7
    Microsoft, MSFT, US$ 102.6
    Alphabet, GOOGL, US$ 73.1
    Cisco Systems, CSCO, US$ 60.4
    Oracle, ORCL, US$ 52.3

Source: Moody’s Investors Service

CPPIB Posts Lowest Return Since Great Recession

The Canada Pension Plan Investment Board (CPPIB) posted an annual return of 3.4%. This is its lowest rate of return since the Great Recession. CPPIB released its latest annual report.

Korean Investors Buy IZD Tower in Vienna

CBRE Global Investors acquired IZD Tower in Vienna, Austria for Korean separate account institutional clients. The office tower is located in the district of Donau City. The seller is a fund managed by Vienna-based Signa Real Estate Capital Partners.

QIA Interested in Asia Square Tower I

Another sovereign wealth fund is taking a crack at a large Singapore office property. The Qatar Investment Authority (QIA) has expressed interest in the Asia Square Tower 1 in Singapore. The seller is BlackRock.

Hermes Investment Management Buys Out Future Fund’s Stake in Southern Water

Hermes Investment Management, owned by the U.K.’s BT Pension Scheme, acquired a 17% stake in British utility Southern Water that was owned by Australia’s Future Fund. The Future Fund indicated it was looking to dispose of its position in Southern Water. Hermes Investment Management now owns 21% of Southern Water.

STT Buys Large Stake in Data Center from Tata

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