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Matt Whineray to Serve As Interim Chief At NZ Super

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The Board of Guardians of the New Zealand Superannuation Fund (NZ Super) appointed chief investment officer Matt Whineray to serve as the sovereign fund’s acting head in mid-March of 2018 following the exit of current chief executive Adrian Orr, who will be beginning his five-year term as Governor of the Reserve Bank of New Zealand. A lawyer by training who spent his early career in investment banking at Credit Suisse and First NZ Capital, Whineray is well positioned to capitalize on the Fund’s stellar performance in 2017. He will be celebrating his 10-year-anniversary at NZ Super in May.

The search for Adrian Orr’s replacement officially began in January 2018, and is expected to take a number of months to complete, with submissions coming from around the globe. Mark Fennel, general manager of portfolio completion and longtime veteran at NZ Super, will take up the duties of chief investment officer for the duration of the recruitment process, according to a press release.

An accomplished economist with extensive experience in public sector finance, Adrian Orr took the helm at NZ Super in 2007, and has earned a spot numerous times in the Sovereign Wealth Fund Institute’s Public Investor 100 annual ranking over the years, most recently in 2017 at #3.

Korea’s NPS Invests In Crypto Exchanges Amid Crackdown

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South Korean news outlets have reported that South Korea’s National Pension Service (NPS) has unwittingly invested roughly US$ 2.4 million in four local cryptocurrency exchanges – Korbit, Upbit, Coinplug, and Bithumb – even as regulatory officials move to subdue the unbridled enthusiasm for crypto trading that has flourished in the tiny country. The US$ 550 billion pension scheme invested in the cryptocurrency exchanges indirectly through two venture capital funds handled by external managers with exclusive rights over asset allocation, according to an NPS officer.

Crypto trading has proved wildly popular in South Korea, drawing an estimated one million citizens to the largely unregulated exchanges that have cropped up over the past few years. South Korea, which is ranked first in the world in terms of internet sped, is the largest market for cryptocurrency transactions behind Japan and United States, and accounts for 29.8% of trade globally, according to a report released by the Korea Insurance Research Institute (KIRI) in December 2017.

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Ripple Attempts to go the Central Bank Route

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San Francisco-based Ripple, a tech company that professes the use of blockchain to reboot the payment systems globally, landed a big deal with the Saudi Arabian Monetary Authority (SAMA). Ripple started a pilot program that will be spearheaded by SAMA and a few Saudi banks to deploy xCurrent for cross-border payments. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Investment Corporation of Dubai Eyes $1 Billion Loan Deal

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The Investment Corporation of Dubai (ICD) plans to raise US$ 1 billion in a loan to refinance existing debt. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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