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Japan’s GPIF Looks to Emerging Public Equity Markets

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Japan’s Government Pension Investment Fund (GPIF) is looking to invest in emerging markets in public equities. The insular investment fund has been investing in conservative Japanese fixed income assets, specifically government bonds. In December 2011, the fund had around 67.4% in domestic bonds. Recently, the GPIF finalized their selection of external fund managers and plan to start investing soon overseas in emerging markets. The amounts are relatively small for the GPIF, but may expand as they trial this strategy. Another concern the GPIF has is that the liquidity in emerging markets in public equities is smaller than advanced economies.

The GPIF recognizes the amount of asset sales needed to increase cash to repay pensions is getting larger. Japan has an aging population and a low birth rate.

SWFI First Read, September 19, 2018

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QIA Eyes Investment in Chinese Lender Lufax

The Qatar Investment Authority (QIA) is in talks about a possible investment into Shanghai-based Lufax, one of China’s largest online lenders. The seller of the possible stake is China’s Ping An Insurance (Group) Co. Ltd. Lufax’s official name is Shanghai Lujiazui International Financial Asset Exchange Co. Ltd.

Wealth Funds Back Hotpot Giant

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Japanese Government Capital Provides Initial Life for Texas Bullet Train

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Dallas-based Texas Central Partners, LLC is the developer of a proposed high-speed rail system, dubbed the Texas Bullet Train, between Dallas and Houston. Project costs are estimated between US$ 12 billion to US$ 15 billion. The developer secured US$ 300 million in project loans from Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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