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New Zealand Superannuation Fund Releases Annual Report

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The NZ$ 23 billion (US$ 19.26 billion) New Zealand Superannuation Fund (Fund) released its 2012/2013 annual report today, and there are a few highlights.
For starters, the management team under CEO Adrian Orr achieved a record return for the Fund of 25.83%. Since the New Zealand Superannuation Fund began investing in September of 2003 it has returned 8.84% (after costs, before taxes), and it has surpassed its passive reference portfolio benchmark by 1.14% or NZ$ 2 billion.

As a nod to their long term mission, Chairman Gavin Walker said the Fund, “remained committed to a long-term, contrarian investment strategy that was strongly weighted to growth assets.”

The report itself has also gone through some changes as the Fund has matured. “This year, for the first time, we have also disclosed the value of each of the Fund’s investments with external asset and investment managers, and the percentage each of these investments makes up of the total Fund,” said Mr. Orr in a statement. This move for increased transparency in sovereign wealth funds is on the rise particularly among members of the International Forum of Sovereign Wealth Funds, of which Mr. Orr has recently been named deputy chair.

Reference Portfolio – New Zealand Superannuation Fund [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

HKMA and TRS Participates in Investment in Kakao Mobility

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Private equity firm TPG led a group of investors to acquire a minority ownership stake in Kakao Mobility Corporation, a South Korean taxi hailing service provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Meraas Holding Names Former KIO Executive as CEO

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Osama Al-Ayoub, the former CEO and President of the Kuwait Investment Office (KIO), was hired by property firm Meraas Holding to be its chief executive officer. KIO is a London-based unit of the Kuwait Investment Authority (KIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Contemplates Investing in SoftBank Vision Fund

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Bahrain-based Mumtalakat Holdings is interested in joining a chorus of sovereign funds committing capital to Japan-based SoftBank Group’s Vision Fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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