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S&P Dow Jones Indices Launches Brazil Smart Beta Indices with BM&FBOVESPA

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S&P Dow Jones Indices LLC, a provider of indices, announced a strategic agreement with BM&FBOVESPA S.A., the biggest equity and futures exchange in Latin America, on creating co-branded Brazilian indices. Index investing is a popular route for many institutional investors including pensions and sovereign wealth funds like the Alaska Permanent Fund Corporation (APFC). In April, Brazilian listed equities were generally bullish, banking on possibilities of spending cuts for Brazil’s government and accommodative monetary policy sprouting from China. A number of Gulf sovereign fund investors like the Kuwait Investment Authority (KIA) take a long-term approach to seeking value in Brazil. However, short-term investors remain concerned about a corruption scandal at Petrobras and a mounting current account deficit hitting Brazil.

According to a press release, Edemir Pinto, CEO of BM&FBOVESPA: “The agreement between BM&FBOVESPA and S&P DJI is a very important step toward increasing index based opportunities for investors and further educating them on the merits of the Brazilian capital markets. The association of our brand to S&P DJI’s on new co-branded indices will reinforce BM&FBOVESPA’s position overseas through S&P DJI’s global index distribution.”

In addition, both companies agreed to launch the S&P/BOVESPA family of smart beta indices. The five smart beta indices formed are: S&P/BOVESPA Low Volatility Index, S&P/BOVESPA Inverse Risk Weighted Index, S&P/BOVESPA Quality Index, S&P/BOVESPA Momentum Index, and S&P/BOVESPA Enhanced Value Index.

Angolan Government Cancels Port Concession, Reviews Others

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Atlantic Ventures SA, which has ties to Isabel dos Santos (daughter to former Angolan president,) lost its concession rights to construct a US$ 1.5 billion port – the Barra do Dande port – near Luanda. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Egyptian Parliament Passes Draft Law on Misr Fund

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Egypt’s state news agency revealed the country is forming a sovereign wealth fund with initial capital of 5 billion Egyptian pounds, with 1 billion Egyptian pounds of that amount being immediately transferred from the Egyptian public treasury. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Capital Constellation Backs Middle Market PE Platform

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Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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