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Janet Yellen Wins #1 on Public Investor 100-2015

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Janet Yellen

Janet Yellen

SWFI Staff has released the Public Investor 100. She ranks 1 out of 100 for the SWFI Public Investor 100 – 2015.

To see the full rankings

The September head fake by the Federal Reserve on interest rates took many notable economists by surprise. Macroeconomists and investment strategists have experienced a challenging endeavor analyzing Janet Yellen’s “fedspeak.” Back in August, The Wall Street Journal surveyed economists over a 5-day span. According to a survey, 82% believed the Federal Reserve’s first rate increase would have come in September. Conversely, 13% believed the Federal Reserve would wait till December. At this point, Yellen’s been conservative in her bid to eventually raise interest rates. Under her leadership, the board has increased contentions on raising rates, as deciphering economic data and job growth figures are dizzying in an era of QE-backed policy. Yellen is a consensus builder, a trait which will translate into an administration that will take thought-out bets on monetary policy.

Yellen, who took the reins from Ben Bernanke, won the role from Lawrence Summers, the former Treasury Secretary. To some, Summers was abrupt and at times polarizing, which played into Yellen’s favor, as she was more discreet and conciliatory. Yellen was able to gain some senatorial Republican support. Yellen’s duties remain the most influential and important posts in regard to global finance and investments – the center of her agenda is the real economy. Known by peers and colleagues for being prudent, Yellen brings a diverse background to the Fed chair role. Most notably, she is the first woman to hold the position. In addition, Yellen was chair of the White House Council of Economic Advisers during U.S. President Bill Clinton’s administration. After the Clinton era, she returned to UC Berkeley. In 2004, Yellen became president of the Federal Reserve Bank of San Francisco. After Barack Obama’s inauguration, by 2010, Yellen was positioned as vice-chair of the Board of Governors.

What makes Yellen tick? We know that she is influenced by many notable economist, including, and most especially, John Maynard Keynes has profoundly impacted her way of thinking. Keynes idea of governments being able to puppet interest rates, modify government spending and taxes for the sake of preventing depressions linked to moden capitalism resonated with Yellen.

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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DOL Fiduciary Role is Struck Down by Fifth Circuit Court of Appeals

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The U.S. Court of Appeal, Fifth Circuit, confirmed a March 15th decision to strike down the U.S. Department of Labor’s (DOL) fiduciary rule. The fiduciary rule is a series of seven different rules that broadly interpret the term “investment advice fiduciary” and redefine exemptions to provisions concerning fiduciaries that appear in the Employee Retirement Income Security Act of 1974 (ERISA). The 5th U.S. Circuit Court of Appeals overturned a decision by a Dallas federal court that had upheld the DOL fiduciary rule.

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