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SOFAZ Buys Physical Gold

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Sovereign investors view gold as a store of value, an alternative currency to dollars, yen, and euros. Sovereign funds in the Middle East feel that Western nations have excessive fiscal debt, which leads to quantitative easing to make it easier to service debts.

Azerbaijan’s State Oil Fund (SOFAZ) is diversifying their portfolio by planning to have 7.5 tons of gold reserves by the end of 2012. Overall, SOFAZ would like to accumulate up to 30 tons of gold over the next two years. According to reported statistics from SOFAZ, gold holdings amounted to 6.847 tons as of July 1, 2012.

SOFAZ’s gold is planned on being stored in Azerbaijan’s central bank.

SOFAZ can invest in gold bars that conform to the requirements of the London Bullion Market Association. Up to 5% of their portfolio can be allocated to gold.

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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