Connect with us

SWFI Global Asset Owner Survey Discovers Investors View US Tax Reform as Driver for Equities

Published

on

According to the SWFI Global Asset Owner Survey taken in August 2017, institutional investors are looking to overweight in international and global equities, while pulling back in listed infrastructure and U.S. passive fixed income. The quarterly survey targets sovereign funds, pensions, endowments, superannuation funds, foundations, government funds, family offices and other asset owners. Totaled estimated survey sample size was US$ 1.012 trillion of assets under management. The clear majority of respondents have a long-term orientation.

Download
Only available for participants and subscribers.

Here are some key findings:

    U.S. tax reform is to be the largest driver of equity prices in the next 6 months. The price of oil was second.

    A majority of respondents plan to increase allocation to Europe, ex-UK in the next 12 months.

    30.77% of the respondents plan to decrease allocation to credit strategies in the next 12 months.

    A majority of respondents see geopolitical risk as the greatest factor against financial market stability.

    Long High-Quality Equities appears to be the most crowded trade for now.

    About 27% of the respondents plan to increase allocation to emerging market debt in the next 12 months.

“Pensions and sovereign funds see U.S. tax reform as a major boon for equity prices,” says Michael Maduell, President of SWFI.

He adds, “Geopolitical risks in the Middle East and parts of Asia, including North Korea, remain in the psyche of global asset owners. According to the survey results and SWFI data, sovereign funds and long-term asset owners are cherry picking investment opportunities in Europe, ex-UK.”

More About the Global Asset Owner Survey

This is SWFI’s inaugural quarterly survey for asset owners. To participate in the next quarterly survey, CONTACT research@swfinstitute.org.

SWFI intentionally excludes 3rd party asset and fund managers in this survey. As an independent authority on asset owners, SWFI feels that it is uniquely qualified and strategy agnostic to show a true “lay of the land”.

White House Nominates Heath Tarbert for CFTC Chairman

Published

on

The White House announced Heath P. Tarbert will be nominated to serve as Commissioner and Chairman of the Commodity Futures Trading Commission (CFTC). Tarbert currently serves as Assistant Secretary for International Markets at the U.S. Treasury Department. Before joining the U.S. Treasury, Tarbert was a Partner at law firm Allen & Overy. Tarbert was confirmed by the U.S. Senate for his current Treasury post at 87 (yes) to 8 (no).

Upon Senate confirmation, Tarbert’s CFTC term would start on April 14, 2019 and last for five years. Tarbert is taking over from J. Christopher Giancarlo whose term ends in April 2019. Tarbert will need a U.S. Senate confirmation to take the head CFTC post.

Continue Reading

KIA Could Sell Stake in North Sea Energy Business

Published

on

The Kuwait Investment Authority (KIA), through its unit Wren House Investment Management, is nearing a deal to sell a 40% stake in its North Sea energy business to JPMorgan Asset Management. In July 2018, KIA closed on a deal to acquire oil and gas pipeline firm North Sea Midstream Partners from ArcLight Capital.

More details to follow –

Continue Reading

Pensioenfonds PGB Hires BMO Global for Equity Protection Strategy

Published

on

Pensioenfonds PGB is a Dutch multi-sector pension fund. PGB awarded a mandate to implement a protection strategy for its €12 billion equity portfolio to BMO Global Asset Management. PGB is a €26.5 billion fund. PGB has been using BMO Global’s responsible engagement overlay since 2017.

The Chief Investment Officer of PGB is Harold Clijsen.

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.