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Sovereign Wealth Funds Dominate Public Funds

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As an institutional investor class, sovereign wealth funds make up a majority of investors in a top-10 global ranking of the largest public funds. This ranking includes sovereign funds, pensions and other public funds. However, wealth funds are far fewer in number compared to the vast number of retirement funds. You can view all other sorts of rankings here.


SWFI League Table of Largest Public Funds

Rank Fund Country Type June 2015
1 Social Security Trust Funds United States National Pension 2,789.50
2 Government Pension Investment Fund Japan National Pension 1,150.00
3 Government Pension Fund – Global Norway Sovereign Wealth Fund 882
4 Abu Dhabi Investment Authority (ADIA) United Arab Emirates Sovereign Wealth Fund 773
5 China Investment Corporation (CIC) China Sovereign Wealth Fund 746.7
6 SAMA Foreign Holdings Saudi Arabia Sovereign Wealth Fund 671.8
7 Kuwait Investment Authority (KIA) Kuwait Sovereign Wealth Fund 592
8 SAFE Investment Company China Sovereign Wealth Fund 567.9
9 National Pension Service of Republic of Korea South Korea National Pension 455
10 Stichting Pensioenfonds ABP Netherlands Public Pension 440
11 Federal Retirement Thrift United States Public Pension 422.2
12 GIC Private Limited Singapore Sovereign Wealth Fund 344
13 CalPERS United States Public Pension 304.1
14 Qatar Investment Authority Qatar Sovereign Wealth Fund 256

 
Actually top 14


Sovereign wealth fund assets continue to expand, despite the slowdown in oil prices and account surpluses in Asian countries. However, retirement plan assets, especially in the defined-benefit space, witnessed growth in countries like the United States. Defined benefit assets are over US$ 10 trillion in assets compared to around US$ 7.3 trillion in sovereign wealth fund assets. In the aggregate, many of these investors have been pushed into equities and alternatives such as real estate and private equity, as the world experienced years and years of quantitative easing policies. This type of compensation invites more risk taking.

Ascendas-Singbridge Acquires Three Hotels in Osaka

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Singapore’s Ascendas-Singbridge has acquired three hotels in Osaka for 10.29 billion JPY to tap tourism growth in Japan’s third-largest city.

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BlackRock Contemplates Stake in Eurizon

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Asset management giant BlackRock is contemplating purchasing a 30% ownership stake in Intesa SanPaolo’s asset management unit called Eurizon Capital SGR S.p.A. BlackRock is keen on growing its technology business and increase market adoption of its Aladdin platform.

Intesa has been working with UBS to seek out strategic options for Eurizon. Intesa is keen on maintaining control over Eurizon.

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SWFI First Read, June 22, 2018

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JPMorgan Fund Buys 40% of Oxford Properties’ French Portfolio

A fund advised by JP Morgan Asset Management committed €400 million in Oxford Properties’ French portfolio. Essentially, Oxford Properties sold a 49.9% non-managing interest in 32 Rue Blanche, 92 Avenue de France and Paris Bastille. Oxford Properties made its maiden investment in Paris in 2014 when it acquired 32 Rue Blanche.

Oxford Properties is the real estate unit of OMERS.

Temasek Explores Further Cash Commitments to FirstCry

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