Connect with us

SWFI First Read, October 27, 2017

Published

on

Saudi PIF Updates Include US$ 400 Billion Goal by 2020

It was revealed at the 2017 Future Investment Initiative event in Riyadh that Saudi Arabia’s Public Investment Fund (PIF) is seeking to nearly double its assets under management to US$ 400 billion by 2020. PIF also released plans for its asset allocation, creating six silos. PIF also revealed that they plan to invest up to US$ 1 billion in The Spaceship Co. and Virgin Orbit (under The Virgin Group of Companies). PIF will also hold an option to invest an additional US$ 480 million in space services. Other investors in the company include Virgin Group and Aabar Investments.

The Saudi government showcased an ambitious US$ 500 billion major industrial city and zone project called NEOM. NEOM will be located in northwest Saudi Arabia. PIF plans to help financially back NEOM as part of the kingdom’s Vision 2030 plan.

Principal Financial Group Moves to Buy MetLife Afore in Mexico

In a bid to get more access to Mexican retirement funds, Principal Financial Group Inc. (PFG) agreed to fully purchase MetLife Afore, S.A. de C.V., MetLife, Inc.’s pension fund management business in Mexico, subject to regulatory approval. The transaction is expected to close in the first quarter of 2018. Principal Financial Group has operated in Mexico for roughly 25 years. The company will integrate MetLife Afore into Principal Afore, S.A. de C.V. Post-deal, Principal Afore will be the fifth biggest pension provider in Mexico.

Alaska Permanent Fund Invests in Renewable Energy Company

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Santander and Broadridge Test Blockchain at Bank’s AGM

Published

on

Spanish banking giant Banco Santander, S.A. and Broadridge Financial Solutions, Inc. did something significant in the world of investor voting. In a bid to improve the process of proxy voting during annual general meetings, blockchain technology was implemented as a side process. Sovereign wealth funds, mutual funds, hedge funds, pension funds and other investors could benefit from greater vote transparency and ease of access on participation, as a growing number of companies have fragmented shareholder bases.

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

SWFI First Read, May 19, 2018

Published

on

GIC is Financially Backing Water’s Edge Development in Los Angeles

Singapore’s GIC Private Limited and Newport Beach-based Marshall Property & Development are financial partners in the development called Water’s Edge in Playa Vista, a neighborhood in Los Angeles. The project is being led by Rockwood Capital.

Sumitomo Mitsui Asset Management Company and Daiwa SB Investments Inked MoU to Merge

On May 11, 2018, a Memorandum of Understanding (MoU) was signed for the merger of Sumitomo Mitsui Asset Management Company, Limited and Daiwa SB Investments Ltd. The proposed merger is subject to the approval of regulatory authorities. Sumitomo Mitsui Asset Management Company’s strengths is selling to mostly Japanese life and non-life insurance companies, while Daiwa SB Investments is stronger in the pension fund and corporate client market.

HSBC Securities Services Hires Bill Muia

HSBC Securities Services, part of the HSBC empire, hired Bill Muia as director for sales and business development, targeting U.S. asset managers and asset owners. Muia is based in New York and report to Scott Markowitz, Head of Sales and Business Development for the Americas at HSBC Securities Services. Previously, Muia worked at RBC Investor and Treasury Services and JP Morgan.

Temasek Capital Flows into AU Small Finance Bank for Raise

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Vontobel Asset Management Promotes Wittwer to CEO

Published

on

Vontobel Asset Management, Inc. named Thomas Wittwer as CEO. He replaces Philipp Hensler, who has served as CEO of Vontobel Asset Management since 2014. Philipp Hensler decided to leave the company to pursue an executive role elsewhere. Hensler was named co-CEO, along with Rajiv Jain in 2014. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.