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Sovereign Wealth Funds Poised to Reach $7 Trillion by 2015

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sovereign wealth fund assetsAs of November 2014, sovereign wealth fund assets totaled US$ 6.977 trillion compared to US$ 6.106 trillion in December 2013. This nearly US$ 900 billion increase can be attributed by improvements in investment returns and capital flows into sovereign wealth fund vehicles. In December 2007, sovereign wealth fund assets amounted to US$ 3.259 trillion. This unprecedented growth in public assets is having tremendous influence toward policymaking, economic stability, investment banking and asset management.

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By taking an average quarterly SWF asset growth figure from (December 2010 to September 2014) which equates to 3.16%, by December 2016, sovereign wealth funds could reach US$ 9 trillion in assets. Tweaking it to 5% quarterly growth in assets, by December 2016, sovereign wealth fund assets would be at US$ 10.3 trillion.

World’s Biggest Sovereign Wealth Funds

In addition, the world’s largest sovereign wealth funds, funds above US$ 100 billion, are the most active in making direct investments. Some of the world’s biggest sovereign wealth funds are the Abu Dhabi Investment Authority, Norway’s Government Pension Fund Global and the China Investment Corporation. According to data from the Sovereign Wealth Fund Transaction Database, sovereign wealth funds in total invested US$ 17.5 billion for the 1st 3 quarters of 2014 compared to US$ 12.95 billion for the 1st 3 quarters of 2013 in direct real estate.

Norway SWF Votes Down Paris Climate Targets at Shell Shareholder Meeting

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Norges Bank Investment Management (NBIM), which oversees Norway Government Pension Fund Global, voted down a proposal put forward by some investors at Royal Dutch Shell’s annual general meeting calling on the company to set emissions targets in line with the Paris climate accords of 2015. The challenge was shot down by 94.5% of Shell shareholders at Tuesday’s proceedings. Its defeat was followed by a statement from the oil giant calling the resolution “unnecessary” in light of the firm’s plans revealed in November to halve its carbon footprint by 2050. Some investors believe Shell would be in a better position to set their own goals on addressing issues like climate change.

The US$ 1.1 trillion sovereign wealth fund – which is itself reliant on cash-streams from Norway’s hydrocarbon stores – announced last July it would be asking the banks in which it invests nearly a quarter of its equity assets to disclose how their lending contributes to greenhouse emissions, and is currently considering whether to drop its exposures in oil and gas companies constituting roughly 6% of its overall portfolio ahead of a parliamentary vote on the proposed policy change later this year.

The climate change motion was featured by 60 long-term institutional investors representing more than US$ 10 trillion in assets – including HSBC, BNP Paribas, Fidelity, Swedish buffer fund AP7, France’s ERAFP, and the United Kingdom’s National Employment Savings Trust (NEST) – in an open letter published during the week of May 16th by The Financial Times urging fossil fuel companies to “clarify how they see their future in a low-carbon world,” without going so far as to openly support its approval.

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PSP Investments Finished Deal on Equity Stakes in AEA and AELO in Portugal

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On May 11, 2018, ROADIS, which is owned by PSP Investments, finalized the purchase of equity interests in Portugal´s Auto Estradas do Atlantico (AEA) for 50% ownership and Auto Estradas do Litoral Oeste (AELO) for 60% ownership from MSF Group (Moniz da Maia, Serra & Fortunato, Empreiteiros) and Lena Group (known locally as Grupo Lena). This is ROADIS’ first investment into Portugal.

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USS Backs Rental Housing Platform Managed by PfP Capital

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The £60 billion Universities Superannuation Scheme (USS) is providing the majority of the funding toward a joint venture to invest in the U.K. private rented sector.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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