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SWFI First Read, January 7, 2018

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Chinese Foreign Reserves End 2017 with an Uptick

The People’s Bank of China announced that foreign reserves grew US$ 20.7 billion to US$ 3.14 trillion in December 2017. The central bank announced a full year increase in reserves to US$ 129 billion. Chinese government authorities had enacted measures to reduce monetary outflows out of mainland China. These measures include capital controls and measures to have large state-owned businesses reduce overseas corporate acquisitions. A weaker U.S. dollar could make the Chinese central bank reduce capital controls.

Charles Schwab to Liquidate Schwab Money Market Fund

Charles Schwab Investment Management moved to liquidate its US$ 8 billion Schwab Money Market Fund. The decision was made on December 12, 2017. The money market fund aims to redeem all of its outstanding shares on or about May 25, 2018.

Iranian Oil Tanker Crashes into Cargo Ship off China Coast

Sanchi, an Iranian oil tanker that departed from Iran’s Assaluyeh port on December 16, 2017, crashed with the Chinese cargo vessel CF Crystal off China’s coast near Shanghai. The oil tanker is owned by National Iranian Tanker Company. The tanker was headed to Daesan, South Korea to move roughly 1 million barrels of natural gas condensate.

The National Iranian Tanker Company is a subsidiary of the National Iranian Oil Company. The National Iranian Oil Company was privatized in 2009 and as of 2011 is mostly owned by Iranian pensions.

Apple Products Vulnerable to Meltdown

Cupertino, California-based Apple Inc., a major driver of the U.S. stock market and company owned by many large sovereign funds and pensions, revealed that all iOs devices, such as the iPad and iPhone, as well as Mac computers are affected by chip security flaws. These issues surround vulnerabilities known as Meltdown.

Follow the Money – Episode 45

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This longer-than-normal episode covers a wide range of issues including such as sovereign wealth funds, bitcoin, cryptocurrencies, Indian real estate, ESG, investment exclusions, central banking and more.

EPISODE 45

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The views in this media are expressed by Michael Maduell and other participants and are not reflective of the Sovereign Wealth Fund Institute (SWFI).

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CalPERS Board Elects Priya Mathur as Board President

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The board of the California Public Employees’ Retirement System (CalPERS) elected Priya Mathur as board president. The current president Rob Feckner was named vice president of the board. Feckner previously served as board president and vice president.

Priya Mathur is serving her fourth term on the CalPERS Board of Administration. Mathur is a principal financial analyst for Bay Area Rapid Transit District (BART). Mathur represents public employees on the CalPERS Board, which she joined in 2002. She currently serves on four committees: Governance, Investment, Pension & Health Benefits, and Risk & Audit. She chairs the Pension & Health Benefits Committee and is vice chair of the Governance Committee.

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Oman SGRF Contemplates $1 Billion Infrastructure Fund

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Oman’s State General Reserve Fund (SGRF) is in discussions on forming a US$ 1 billion infrastructure fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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