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Japan GPIF Names Russell Investments and BlackRock as Transition Managers

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Japan’s Government Pension Investment Fund (GPIF) appointed Russell Investments Japan Co., Ltd., as the transition manager for domestic equities. GPIF appointed BlackRock Japan Co. Ltd. as the transition manager for foreign equities.

Keywords: Government Pension Investment Fund Japan, BlackRock, Inc.

Canadian Pension Capital Eyes Inmarsat Takeover

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The board of Inmarsat plc received a non-binding US$ 3.3 billion takeover off from an investor group that includes Apax Partners, Warburg Pincus, and the Canada Pension Plan Investment Board (CPPIB). It is a cash offer of US$ 7.21 per company share for the entire issue. The Ontario Teachers Pension Plan also signaled to join the consortium, according to Inmarsat.

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Khazanah Nasional Could Close UK and Turkish Offices

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Malaysia’s Khazanah Nasional Berhad is contemplating shuttering its London office, not so much over issues with Brexit, but in a bid to save money on costs, as the wealth fund shifts its strategic focus. Khazanah is also scaling back its presence in Turkey, as the wealth fund does not need a significant presence there.

However, the wealth fund is keen on keeping offices in China and the United States, due to access to technology investments.

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New Zealand Investment Funds Demand Facebook, Google, and Twitter to Patrol and Censor Violent Content

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The NZ Super Fund (New Zealand Superannuation Fund), Accident Compensation Corporation, Government Superannuation Fund Authority, National Provident Fund, and Kiwi Wealth issued a statement calling for social media giants such as Twitter and Facebook, and even search engine Google to take action on responsibility of what is published on their platforms. However, Twitter, Facebook, and Google are aggregators and platforms, not news publishers. News publishers have leeway and discretion on what to write and publish, but are exposed to greater liabilities than news aggregators. Proponents of regulation demand these platforms monitor their content, which in the Western world prides itself on free speech. Increasingly, governments want more censorship control over these various platforms. Popular financial media site Zerohedge recently became censored in New Zealand, as well as online video site LiveLeak and Reddit-like website 4chan.

The massacres in New Zealand Mosques was amplified by social media. This is the case with many notable events, whether negative or positive. A Facebook vice president revealed that less than 200 people saw the Christchurch massacre while it was being streamed live on the website. However, the video was viewed more than 4,000 times before Facebook pulled it from their platform. The saying goes, “at that point, what gets posted on the internet, can stay forever by people making copies.”

These pools of New Zealand public capital are also in the process of contacting peer asset owners. Furthermore, the New Zealand government is looking at breaches of actions on these social media companies and online platforms.

Matt Whineray, NZ Super Fund CEO, in a press release statement said, “We have been profoundly shocked and outraged by the Christchurch terror attacks and their transmission on social media. These companies’ social licence to operate has been severely damaged. We will be calling on Facebook, Google and Twitter to take more responsibility for what is published on their platforms. They must take action to prevent this sort of material being uploaded and shared on social media. An urgent remedy to this problem is required.”

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