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Trump Victory Excites Japanese Institutional Investors

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Will there be a resurgence of Japanese capital into the United States?

Photo Credit: CNBC

Photo Credit: CNBC

In the 1980s and 1990s, Japan was a major foreign investor into the United States, buying up equities and prized real estate. Japan’s Government Pension Investment Fund (GPIF) earlier indicated that a push for U.S. infrastructure spending would intrigue the public fund into backing such investments. Many Asian wealth funds see the infrastructure spending effect could trickle down and spur U.S. consumption spending. A number of Asian wealth funds have been investing in mezzanine debt in hotel properties in core markets such as the Korean Investment Corporation (KIC).

Japanese conglomerate SoftBank Group has been raising money for its US$ 100 billion technology fund, SoftBank Vision Fund. This technology fund has raised money from Saudi Arabia’s Public Investment Fund (PIF) and other cash-rich investors. The Vision Fund could partake in a number of investments. For example, Foxconn Technology Co. Ltd., a major supplier for Apple Inc., had started studying moving iPhone production to the United States. There was concern that a Trump presidency could force Apple to make a certain number of smartphone pieces in the United States. If such a forced move would come true, entities such as SoftBank could introduce more high-tech manufacturing using robotics and automation into the U.S.

Softbank CEO Masayoshi Son met with U.S. President-elect Donald Trump at Trump Tower. Son indicated that the fund may invest up to US$ 50 billion into the United States.

As journalists circle Trump Tower daily, Trump told the waiting reporters on December 6, 2016, “Ladies and gentlemen, this is Masa from Japan.”

He added, “He’s just agreed to invest $50 billion in the United States and 50,000 jobs. He’s one of the great men of industry, so I just want to thank you very much. Thank you.”

Son responded, “I just came to celebrate his new job.” He added, “This is great, the U.S. will become great again.”

U.S. President-elect Trump later tweeted:
trump_twitter_dec62016_1

NZ Super Names Three New Board Members

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New appointments have been made to the Board of the Guardians of New Zealand Superannuation Fund (NZ Super). The appointments were made on July 19, 2018. The three new board members are Catherine Drayton, Simon Botherway and Henk Berkman.

According to the NZ Super press release, “Simon Botherway’s appointment runs from 1 August 2018 to 30 September 2021. He is a professional director with a history in investment, investment regulation and supervision. Other board roles have included his current position as Chair of Serko, a director on Callaghan Innovation and previously being the Chair of the FMA Establishment Board and a member of the Securities Commission.

Henk Berkman will serve from 1 October 2018 to 30 September 2022. He has been Professor of Finance, Department of Accounting and Finance at the University of Auckland since 2008. Mr Berkman has held previous professorial positions at Massey University, University of Sydney and the University of Maastricht.

Catherine Drayton will serve from 1 November 2018 until 30 September 2022. She is a Christchurch-based director who previously led the Assurance and Advisory Practice for PwC in Central Eastern Europe. Her public sector governance experience includes her current role as Chair of Christchurch International Airport and as a member of the University of Canterbury Council. Her experience as a Director of Ngai Tahu Holdings has provided her with iwi governance experience.”

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AIMCo Names Former Talisman Energy Executive to Board

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The Alberta Investment Management Corporation (AIMCo) appointed Jacqueline (Jackie) Sheppard as a member of the board of directors for a term set to expire on June 30, 2021. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Grant & Eisenhofer Reveals Fortis Investors to Receive $1.5 Billion in Mega Settlement

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Law firm Grant & Eisenhofer won a landmark case for its clients after a seven-year legal duel in Dutch courts. On July 13, 2018, the Amsterdam Court of Appeals officially approved the largest securities settlement ever reached in Europe, paving a path for international insurance company Ageas N.V./S.A. to begin payment of US$ 1.5 billion (€1.3 billion) to multiple groups of institutional and individual investors from Europe and the United States. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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