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Hong Kong Getting Serious About Future Fund Formation

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sovereign wealth fund center asia

The complex world of sovereign wealth funds has grown rapidly in the last 10 years. As of February 2015, there are over US$ 7 trillion in sovereign wealth fund assets, trumping the U.S. defined benefit sector. Meanwhile, a new fund may be joining the SWFI’s sovereign wealth fund rankings. The Hong Kong government and Hong Kong Monetary Authority (HKMA) have laid out plans for a proposed future fund. The sovereign wealth fund could go live in 2015.

Hong Kong Financial Secretary John Tsang Chun-wah during a recent budget speech at the Legislative Council said, “The future fund will serve as long-term savings and be placed in long-term investments for higher returns.”

Future Fund’s Purpose

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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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