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Taiwan Central Bank: FX Reserves Not for Sovereign Wealth Fund

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reservesTaiwan’s central bank, Central Bank of the Republic of China (Taiwan), said it would not be appropriate to transfer the country’s foreign exchange reserves into a sovereign wealth fund. As of June 2014, Taiwan’s foreign exchange reserves stood at US$ 423.45 billion. The central bank stated that 71% of those reserves are allocated to domestic bonds and equities. Taiwan’s foreign exchange reserves are comparable in size to Hong Kong and South Korea. However, the island’s reserves dwarf China’s massive pool of foreign exchange reserves.

Taiwan’s foreign reserves keep growing. A key input is from the use of foreign exchange reserves investment income.

Government officials at the central bank believe that the goals of a sovereign wealth fund greatly differ than the objectives of a country’s foreign exchange reserves.

ADIA Seeks to Sell KIC Headquarters

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The Abu Dhabi Investment Authority (ADIA) is seeking to sell the building that houses the headquarters of the Korea Investment Corporation (KIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BMO and OTPP Test Blockchain Canadian Dollar Debt Deal

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The Bank of Montreal (BMO) and the Ontario Teachers’ Pension Plan (OTPP) participated in a landmark blockchain Canadian-dollar debt transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Just Group Acquires Corinthian Pension Consulting

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Just Group plc acquired a 75% ownership stake in the holding company of Corinthian Pension Consulting Limited (Corinthian Pension Consulting). Operating in the institutional world for over 12 years, Corinthian Pension Consulting provides advisory services to defined-benefit pension scheme trustees and scheme sponsors undertaking bulk scheme exercises. The remaining 25% will be retained by current shareholders of Corinthian Pension Consulting. Robert MacGregor will continue to lead Corinthian Pension Consulting, as its Chief Executive Officer. Furthermore, Corinthian Benefits Consulting Limited and Corinthian Affinity Solutions Limited will continue to operate as before, becoming part of a newly formed holding company, Corinthian Group Holdings Limited.

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