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SWFI First Read, December 16, 2017

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Facebook Concedes that Using FaceBook Could be Bad for Consumers

David Ginsberg is Facebook’s director of research. Moira Burke is a computational social psychologist on the Data Science team at Facebook since early 2012. They published a post on Facebook entailing the impact the social network has on peoples’ moods. According to the December 15, 2017 blog post titled “Hard Questions: Is Spending Time on Social Media Bad for Us?”, they commented that, “University of Michigan students randomly assigned to read Facebook for 10 minutes were in a worse mood at the end of the day than students assigned to post or talk to friends on Facebook.”

The post adds, “A study from UC San Diego and Yale found that people who clicked on about four times as many links as the average person, or who liked twice as many posts, reported worse mental health than average in a survey. Though the causes aren’t clear, researchers hypothesize that reading about others online might lead to negative social comparison — and perhaps even more so than offline, since people’s posts are often more curated and flattering. Another theory is that the internet takes people away from social engagement in person.”

UBS Asset Management Wins Colonial First State Australian REIT Mandate

Sydney-based Colonial First State awarded an approximate A$ 170 million sub-advisory mandate to UBS Asset Management to oversee an Australian real estate investment trust strategy, essentially 50% of the FirstChoice Property Securities fund. The previous advisor of the mandate, Colonial First State Global Asset Management, was terminated.

State Street Global Advisors Names Betty Ng as MD and COO of Asia ex-Japan

State Street Global Advisors hired Betty Ng as managing director and chief operating officer for Asia ex-Japan. This is a new position. Betty Ng started effective December 11, 2017. She will report to June Wong, the company’s senior managing director and head of Asia ex-Japan.

Before this role, Betty Ng was General Manager of Private Wealth Management at the Agricultural Bank of China in Hong Kong.

Kroger to Exit from Central States Pension Fund

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ADIA Seeks to Sell KIC Headquarters

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The Abu Dhabi Investment Authority (ADIA) is seeking to sell the building that houses the headquarters of the Korea Investment Corporation (KIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BMO and OTPP Test Blockchain Canadian Dollar Debt Deal

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The Bank of Montreal (BMO) and the Ontario Teachers’ Pension Plan (OTPP) participated in a landmark blockchain Canadian-dollar debt transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Just Group Acquires Corinthian Pension Consulting

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Just Group plc acquired a 75% ownership stake in the holding company of Corinthian Pension Consulting Limited (Corinthian Pension Consulting). Operating in the institutional world for over 12 years, Corinthian Pension Consulting provides advisory services to defined-benefit pension scheme trustees and scheme sponsors undertaking bulk scheme exercises. The remaining 25% will be retained by current shareholders of Corinthian Pension Consulting. Robert MacGregor will continue to lead Corinthian Pension Consulting, as its Chief Executive Officer. Furthermore, Corinthian Benefits Consulting Limited and Corinthian Affinity Solutions Limited will continue to operate as before, becoming part of a newly formed holding company, Corinthian Group Holdings Limited.

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