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Japan’s GPIF Benefited From 2016 Year-End Equity Boost

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Japan’s Government Pension Investment Fund (GPIF) generated a 5.86% annual return for its latest fiscal year. With GPIF moving more money into equities over the past few years, the timing appeared to pay off at the end of 2016.

Equities Rallied

GPIF reached a record 144,903.4 billion JPY (US$ 1.302 trillion) in assets. The pension giant experienced a strong third fiscal quarter (period ending December 2016), generating a whopping 7.98% quarterly return. For that quarter, foreign equities generated a 16.46% return, while domestic equities generated a 15.18% quarterly return. Back at March 2007, GPIF had just a 9.1% allocation to foreign equities compared to an allocation of 23.12% from March 2017.

Ping An Good Doctor Lures Big Public Asset Owners

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Ping An Good Doctor, formerly known as Ping An HealthCare and Technology Company, is a Chinese online healthcare platform that is part of Ping An Insurance (Group) Company. This unit is planning to be offered in a Hong Kong initial public offering that could raise as much as 8.8 billion HKD in shares at 50.80 or 54.80 HKD per share.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek and Schneider Electric Eye L&T Electrical Unit

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Singapore’s Temasek Holdings and France-based Schneider Electric are in talks to acquire Larsen & Tourbo’s electrical and automation business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CalPERS Allocates $1 Billion Internally to a Global ESG Strategy

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In February 2018, the California Public Employees’ Retirement System (CalPERS) allocated US$ 1 billion to an internally-managed QSI Global ESG strategy. The internally-managed strategy was developed by New York-based QS Investors, LLC, a subsidiary of Legg Mason. CalPERS entered into a 5-year contract with QS Investors, with a possible spend of over US$ 1 million per annum.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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