Connect with us

New Mexico SIC FY Investment Returns of 22.5%

Published

on

According to the press release, “The State Investment Council (NMSIC) today announced record returns of 22.5% for the fiscal year ending June 30, 2011.  The investment returns helped grow the total funds managed by the NMSIC more than $2.5 billion year-over-year, and placed it in the top third among peer funds of more than $1 billion.

“The State Investment Council was well positioned for the bull market we experienced for much of the year,” said State Investment Officer Steve Moise. “The Council is also working diligently to diversify its assets, and create a balanced portfolio of quality investments that will be less vulnerable to the volatility we have seen recently on Wall Street.”

The Council in July voted to take steps to reduce overall exposure to the public equities (stock) market from a target of 60% to 46%.  New long-term investment targets include increased allocations to core real estate and real return assets such as timber and infrastructure.

The 22.5% investment performance for the year marks the highest returns experienced by the permanent funds since the legislature voted to allow greater exposure to the stock market back in the late 1980s.  The previous investment returns peak of 21.5% came in 1998, in the middle of the internet “dot-com” stock bubble.

For the fiscal year ending June 30, the Permanent Funds were valued at $15.35 billion.  The Funds also distributed $763 million over the past 12 months.  Permanent Fund distributions continue to be a vital source of revenue for New Mexico, directly benefitting public schools and universities, and reducing the tax burden on our citizens.

Read more: New Mexico State Investment Council

Alibaba Invests in Series C in 1919 Wines

Published

on

On October 18, 2018, Alibaba Group Holding Limited, through Alibaba (China) Network Technology Co., Ltd, invested some 2,000,000,065.08 RMB (US$ 288,447,000) for 39,277,299 shares in a Series C round into 1919 Wines & Spirits Platform Technology Co., Ltd., a Chinese alcohol beverage e-commerce retailer. Post-deal, Alibaba owns about 29% of the company shares and became the second largest shareholder of 1919 Wines. The transaction values 1919 Wines at 7 billion RMB.

GF Securities Co., Ltd. advised 1919 Wines on the transaction.

Formed in 2010, 1919 Wines is based in Chengdu. 1919 Wines owns retail portals, phone apps, and offline stores.

Continue Reading

Nomura and CIC Contemplate Joint Investment Fund

Published

on

Japan-based Nomura Holdings is in talks with the China Investment Corporation (CIC) on forming a new investment fund. The fund could be receive commitments up to US$ 1 billion. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Temasek Holdings Dumps More of Celltrion

Published

on

On October 22, 2018, Singapore’s Temasek Holdings, through its sovereign wealth enterprise (SWE) Ion Investments, entered into its second block deal in selling shares in Celltrion, a South Korean bio-pharmaceutical company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.