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Press Release – Public Investor 100 Rankings Released for 2016

FOR IMMEDIATE RELEASE
4 October 2016
SEATTLE, WA, UNITED STATES
Press Inquiry: vberretta@swfinstitute.org

public_investor_2016_montage

SEATTLE, WA. – 4 October 2016 – The Sovereign Wealth Fund Institute (SWFI) has just released its fourth annual Public Investor 100. The list includes the most significant and impactful public investor executives of 2016. The top 100 ranking assembles the most influential people at some of the largest funds, endowments, pensions and central banks around the globe.

RANK NAME TITLE(S) ORGANIZATION / FUND NAME COUNTRY OF ORIGIN
1 Alain Carrier Senior Managing Director & Head of International, Head of Europe CPP Investment Board Canada
2 Ted Eliopoulos Chief Investment Officer California Public Employees’ Retirement System United States
3 Mubarak Rashed Al Mansoori Governor Central Bank of the UAE United Arab Emirates
4 Amy Chen Chief Investment Officer Smithsonian Institution United States
5 David F. Swensen Chief Investment Officer Yale Investment Office United States
6 Wendy Norris Head of Infrastructure and Timberland Future Fund Australia
7 David J. Holmgren Chief Investment Officer Hartford HealthCare United States
8 Matt Whineray Chief Investment Officer New Zealand Superannuation Fund New Zealand
9 Robert Tessier Chairman Caisse de dépôt et placement du Québec Canada
10 Thomas Richard Arnold Head Americas Real Estate Abu Dhabi Investment Authority United Arab Emirates
11 Agustín Carstens Governor Bank of Mexico Mexico
12 Mark Mansley Chief Investment Officer Environment Agency Pension Fund United Kingdom
13 Allen Breed Senior Real Estate Officer MIT Investment Management Company United States
14 Hisham Hamdan Executive Director, Investments and Head of Khazanah Research & Investment Strategy Khazanah Nasional Berhad Malaysia
15 Stephen Moseley Director of Private Equities and Special Opportunities Alaska Permanent Fund Corporation United States
16 Steve Moise State Investment Officer New Mexico State Investment Council United States
17 Goh Kok Huat Chief Operating Officer, President, Real Estate GIC Private Limited Singapore
18 Yannis Stournaras Governor Bank of Greece Greece
19 George Finnie Investment Manager Strathclyde Pension Fund United Kingdom
20 Guthrie Stewart Senior Vice President, Global Head of Private Investments PSP Investments Canada

VIEW the FULL LIST

This year we attempted to focus our rankings a bit more on individuals who had experience in private markets, specifically real estate and infrastructure. Why? According to SWFI research, real estate and infrastructure as asset classes have steadily grown over the past decade at the expense of fixed income and public equity allocations. Having knowledge in real estate is a serious undertaking that has grown in prominence in institutional portfolios.

This ranking will appear in our October issue of the Sovereign Wealth Quarterly.

About SWFI
SWFI is a global organization designed to study sovereign wealth funds, pensions, endowments, central banks and other long-term public investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant topics. For more information about the SWFI, please go to www.swfi.com | www.swfinstitute.org.

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To see the full list, please follow the link: Public Investor 100 – 2016

For more information contact:
Vincent Berretta
Director of Marketing, SWFI
+1 (702) 768 – 0703
vberretta@swfinstitute.org

Adrian Orr Named Governor of Reserve Bank of New Zealand

NZ Super Fund CEO Adrian Orr is exiting the sovereign fund to take up a new executive role at the country’s central bank. Adrian Orr is becoming the Governor of the Reserve Bank of New Zealand. Orr will officially leave NZ Super in March 2018, effectively starting his 5-year term as central bank governor on March 27, 2018. Adrian Orr is returning to this central bank roots. He was previously a deputy governor at the Reserve Bank of New Zealand.

Catherine Savage, Chair of the Guardians of New Zealand Superannuation, in a news release stated, “I know that in working for the NZ Super Fund Adrian has valued the opportunity to make a contribution to New Zealand highly. The role of Governor of the Reserve Bank will enable him to continue to do this. While we are naturally disappointed to lose Adrian, we congratulate him and the Reserve Bank on his appointment, and wish them both well.”

Orr will take the helm of central bank governor from Grant Spencer, who became acting Governor on September 26, 2017. Grant Spencer was Deputy Governor of the central bank, taking over from Graeme Paul Wheeler, who was central bank governor from 2012 to September 2017. Wheeler was a former Managing Director and former Treasurer at The World Bank.

Orr was nominated numerous times on SWFI’s Public Investor 100 annual ranking.

1. 2013, #22
2. 2014, #16
3. 2017, #3

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Some Asset Owners See Treasury Bond Yields as Factor in Driving Equities

Revealed results from the fourth quarter 2017 SWFI Global Asset Owner survey released in early December shows that majority of institutional investor respondents, which include pensions, sovereign funds and other public funds, believe U.S. tax reform would be the largest driver of equity prices in the next six months. The quarterly survey excludes asset managers and targets asset owners. U.S. President Donald Trump calls the Republican party’s US$ 1.5 trillion tax cut as economic “rocket fuel”.

Treasury Bond Yields and Robust U.S. Job Creation

Even more enlightening was the number two finalist in the question, treasury bond yields, which almost tied U.S. tax reform. Institutional investors are carefully analyzing the figures being released by the U.S. Department of Labor (DOL), as the unemployment rate stayed at 4.1% and payroll numbers continues to improve. The U.S. economy added 228,000 jobs in November 2017, according to DOL data. Post-report the 10-Year U.S. Treasury yield fell lower. Sovereign funds still hold a large portion of investments in liquid fixed income investments, despite noteworthy large-scale infrastructure or buyout deals headlined by financial media.

The majority of Federal Open Market Committee members did not factor in U.S. tax reform in the September projections. The question looms if the U.S. Federal Reserve will keep pace on monetary tightening, as Janet L. Yellen is being pushed out of the chair spot. As Jerome H. Powell awaits in the wings, Yellen’s tenure as Fed chairman is the shortest since G. William Miller, who served from 1978 to 1979. Faster economic growth and better job numbers could lead to more interest rate increases. Depending on the adoption and speed, increased interest rate measures would deeply impact junk bonds and further accelerate the demise of troubled enterprises.

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Bagamoyo Project Revitalized, Oman and China Look to Move Forward

The Government of Tanzania is completing talks with Oman and China over the Bagamoyo Port project in the Bagamoyo Special Economic Zone at a cost of 22.3 trillion Tanzanian shilling (US$ 10 billion). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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