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SWFI First Read, February 27, 2017

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Chinese Insurer AIA Looks to SE Asia

Chinese mega insurer AIA Group Ltd seeks to grow its overseas investments and insurance business in emerging markets. AIA is increasing its investment presence in Singapore, by moving some team members from Hong Kong to Singapore. AIA also formed a new subsidiary in Singapore. The Southeast Asian countries of Singapore, Malaysia and Thailand have been major markets for foreign insurers as insurance penetration remains lower compared to other North Asian markets. In fact, AIA is battling Manulife Financial Corporation in a bid for the life insurance operations business of Siam Commercial Bank Pcl which is called SCB Life Assurance Pcl.

Dimensional Fund Advisors Starts Succession Path

David Booth is stepping down as Co-CEO of Dimensional Fund Advisors and is being replaced by Dave Butler. Butler is joining Eduardo Repetto as co-CEO of the firm. Butler will also join Dimensional’s board of directors. Booth will continue to be executive chairman of the company. David Booth and Rex Sinquefield founded Dimensional in 1981 with the idea of using academic theories in real world applications. Dimensional has around US$ 460 billion in assets under management.

Qatar Petroleum Merges Petrochemical Operations to Save Money

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Mauritius Aims to Sell Citizenship and Passports to Bolster National Wealth Fund

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The island country of Mauritius plans to offer foreigners a chance to obtain country citizenship in exchange for a non-refundable contribution of US$ 1 million to the national sovereign wealth fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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CapitaLand Aims to be a Real Estate Funding Machine

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CapitaLand Investment Management, a real estate investment management arm of Singapore-based CapitaLand, hired Caleb Shen as managing director for fund management. CapitaLand is keen on growing its real estate fund management business. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Treasurer Perrottet Reveals the NSW Generations Fund

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New South Wales wants its own Future Fund.

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