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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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Angolan Government Cancels Port Concession, Reviews Others

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Atlantic Ventures SA, which has ties to Isabel dos Santos (daughter to former Angolan president,) lost its concession rights to construct a US$ 1.5 billion port – the Barra do Dande port – near Luanda. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Egyptian Parliament Passes Draft Law on Misr Fund

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Egypt’s state news agency revealed the country is forming a sovereign wealth fund with initial capital of 5 billion Egyptian pounds, with 1 billion Egyptian pounds of that amount being immediately transferred from the Egyptian public treasury. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Capital Constellation Backs Middle Market PE Platform

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Capital Constellation is the investment platform owned by the Alaska Permanent Fund Corporation (APFC), RPMI Railpen, and Wafra Inc. on behalf of the Public Institution for Social Security of Kuwait (PIFSS). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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