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Here’s Why Singapore’s GIC is Expanding Investments in Brazil

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brasilDespite headwinds of a presidential election, higher inflation, and the possibility of deep budget cuts and increased taxes, institutional investors like sovereign wealth funds and pensions are betting on Brazil’s long-term economic viability. For Latin America, sovereign funds are not terrified by short-term volatility. Pensions and sovereign wealth funds center on consumer-oriented companies, counting on middle class expansion. According to World Bank data, in 2005, the poverty headcount ratio in Brazil was 30.8%. In 2009, the ratio lowered to 21.4%. Attractive sectors for public pensions and sovereign funds in Brazil run from, infrastructure, real estate, telecommunications and consumer goods like food.

Lim emphasized opportunities in the larger emerging market countries, advocating the proliferation of supply-side trends.

Being Selective – National Champions

Public asset owners can be selective in their investments, picking national champions in emerging markets. For example, recently Singapore’s GIC Private Limited boosted its stake in BRF to 4.4% from 3.8%, a São Paulo-based food processor. BRF, also known as Brasil Foods, was created by the merger of Perdigão and Sadia and is the world’s 10th biggest food company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

ADIA Seeks to Sell KIC Headquarters

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The Abu Dhabi Investment Authority (ADIA) is seeking to sell the building that houses the headquarters of the Korea Investment Corporation (KIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BMO and OTPP Test Blockchain Canadian Dollar Debt Deal

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The Bank of Montreal (BMO) and the Ontario Teachers’ Pension Plan (OTPP) participated in a landmark blockchain Canadian-dollar debt transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Just Group Acquires Corinthian Pension Consulting

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Just Group plc acquired a 75% ownership stake in the holding company of Corinthian Pension Consulting Limited (Corinthian Pension Consulting). Operating in the institutional world for over 12 years, Corinthian Pension Consulting provides advisory services to defined-benefit pension scheme trustees and scheme sponsors undertaking bulk scheme exercises. The remaining 25% will be retained by current shareholders of Corinthian Pension Consulting. Robert MacGregor will continue to lead Corinthian Pension Consulting, as its Chief Executive Officer. Furthermore, Corinthian Benefits Consulting Limited and Corinthian Affinity Solutions Limited will continue to operate as before, becoming part of a newly formed holding company, Corinthian Group Holdings Limited.

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