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Government of Singapore Investment Corporation has a rough year, just like other SWFs

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According to the report, “In recent years, GIC had sought to construct a diversified multi-asset class portfolio by increasing alternative investments such as private equity and real estate. However, this diversification was ineffective in the financial earthquake that occurred last year. The portfolio suffered a loss of more than 20% in Singapore dollar terms in the financial year to 31 March 2009. This loss pulled down the 20-year nominal annual rate of return in Singapore dollar terms from 5.8% to 4.4%. The real rate of return, in excess of global inflation, fell from 4.5% to 2.6%. In US dollar terms, the 20-year nominal annual rate of return was 5.7% as at 31 March 2009.”

read more: GIC Report

HKMA and TRS Participates in Investment in Kakao Mobility

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Private equity firm TPG led a group of investors to acquire a minority ownership stake in Kakao Mobility Corporation, a South Korean taxi hailing service provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Meraas Holding Names Former KIO Executive as CEO

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Osama Al-Ayoub, the former CEO and President of the Kuwait Investment Office (KIO), was hired by property firm Meraas Holding to be its chief executive officer. KIO is a London-based unit of the Kuwait Investment Authority (KIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Contemplates Investing in SoftBank Vision Fund

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Bahrain-based Mumtalakat Holdings is interested in joining a chorus of sovereign funds committing capital to Japan-based SoftBank Group’s Vision Fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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