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SWFI First Read, September 1, 2017

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Australia’s Future Fund Reaches Over $100 Billion in Assets

Australia’s Future Fund posted an 8.7% annual return for its latest fiscal year ended June 30, 2017.

David Neal, Future Fund’s CEO commented in a release, “Looking at the investment environment, markets have been buoyant over the last year on the back of an improvement in economic conditions across many of the major economies. Key to this has been the continued accommodative monetary policy settings. Central bankers are still grappling with the timing of moves to adjust rates upwards. This is a big uncertainty in the climate looking forward as are risks such as international political tensions. In this environment the Board is maintaining its patient long-term approach to investment.”

Aberdeen Standard Investments Names Amy Wang as Head of Onshore China

Aberdeen Standard Investments named Amy Wang as head of its onshore China business. Wang was formerly Head of Institutional Business for Greater China at Amundi Pioneer Asset Management. She will report to Alexis Ng and Ian Macdonald at Aberdeen Standard Investments.

Goldman Sachs Sells Down Stake in DONG Energy

Goldman Sachs, through its Luxembourg-based unit called New Energy Investment, had unloaded another 1.78% shareholding in DONG Energy, lowering its total position to 2.7%. In 2013, Goldman Sachs took an approximate 20% stake in DONG Energy.

CIC and GIC Vie for LendLease Retirement Portfolio

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SWFI First Read, September 19, 2018

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QIA Eyes Investment in Chinese Lender Lufax

The Qatar Investment Authority (QIA) is in talks about a possible investment into Shanghai-based Lufax, one of China’s largest online lenders. The seller of the possible stake is China’s Ping An Insurance (Group) Co. Ltd. Lufax’s official name is Shanghai Lujiazui International Financial Asset Exchange Co. Ltd.

Wealth Funds Back Hotpot Giant

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Japanese Government Capital Provides Initial Life for Texas Bullet Train

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Dallas-based Texas Central Partners, LLC is the developer of a proposed high-speed rail system, dubbed the Texas Bullet Train, between Dallas and Houston. Project costs are estimated between US$ 12 billion to US$ 15 billion. The developer secured US$ 300 million in project loans from Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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