Connect with us

Gao and other Sovereign Funds in Davos

Published

on

Some sovereign wealth funds and mega pensions have converged on Davos, the Swiss city where the World Economic Forum is held. Bahrain’s Mumtalakat Holdings, a frequent Davos delegate sender, had their CEO Mahmood al-Kooheji representing Bahrain. Kooheji gave an optimistic update on Gulf Air citing layoffs and restructuring changes. In addition, Kooheji told Reuters reporters in Davos, “This year we will be more active in investments……. We are looking across the globe and open for investments in all sectors except aviation and real estate. We’re very active in the broader ICT (information and communications technology) space and hope to do some acquisitions there.”

Another visitor to Davos is Gao Xiqing who has retired from the China Investment Corporation. China was a major theme in Davos and the reforms being swept in to balance trade versus domestic consumption. In fact, eight sessions focused on sustainable growth in mainland China. Similar to last year at Davos, economists like Nouriel Roubini, founder of Roubini Global Economics, predicts Chinese growth to slow down.

Government officials from Georgia made a Davos appearance including Georgian Prime Minister Irakli Garibashvili . He told reporters, “Georgia lacked long-term capital, this is why we will start a new sovereign wealth fund in February and are planning new infrastructure projects.”

Some attendees on the institutional investors’ side happen to be on the Sovereign Wealth Fund Institute’s Public Investor 100 ranking for 2013. Other major Asian institutional investors include GIC Private Limited who sent group president Lim Siong Guan. The Kuwait Investment Authority sent managing director, Bader M. Al Sa’ad. Shahmar Movsumov, executive director of the State Oil Fund of Azerbaijan, also made an appearance.

Other mentions include CPPIB’s Mark Wiseman, Yngve Slyngstad and Choi Kwang.

BizAsia’s Martina Fuchs Speaks with Mr. Gao Xiqing

Korea’s NPS Invests In Crypto Exchanges Amid Crackdown

Published

on

South Korean news outlets have reported that South Korea’s National Pension Service (NPS) has unwittingly invested roughly US$ 2.4 million in four local cryptocurrency exchanges – Korbit, Upbit, Coinplug, and Bithumb – even as regulatory officials move to subdue the unbridled enthusiasm for crypto trading that has flourished in the tiny country. The US$ 550 billion pension scheme invested in the cryptocurrency exchanges indirectly through two venture capital funds handled by external managers with exclusive rights over asset allocation, according to an NPS officer.

Crypto trading has proved wildly popular in South Korea, drawing an estimated one million citizens to the largely unregulated exchanges that have cropped up over the past few years. South Korea, which is ranked first in the world in terms of internet sped, is the largest market for cryptocurrency transactions behind Japan and United States, and accounts for 29.8% of trade globally, according to a report released by the Korea Insurance Research Institute (KIRI) in December 2017.

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

Continue Reading

Ripple Attempts to go the Central Bank Route

Published

on

San Francisco-based Ripple, a tech company that professes the use of blockchain to reboot the payment systems globally, landed a big deal with the Saudi Arabian Monetary Authority (SAMA). Ripple started a pilot program that will be spearheaded by SAMA and a few Saudi banks to deploy xCurrent for cross-border payments. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Investment Corporation of Dubai Eyes $1 Billion Loan Deal

Published

on

The Investment Corporation of Dubai (ICD) plans to raise US$ 1 billion in a loan to refinance existing debt. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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.