Policy

How do Sovereign Investors approach ESG Investing?

This article is sponsored by State Street Global Advisors. Drawing on proprietary datasets of institutional investor surveys on Environmental, Social and Governance (ESG) investing, State Street Global Advisors (SSGA) have sought to identify distinct features of sovereign investors. While confirming that official institutions share many features with private sector investors, the study reveals some notable […]


DECADE: Norway Sovereign Wealth Still Views Wal-Mart as a Human Rights Violator

Norges Bank, the overseer of Norway’s Government Pension Fund Global (GPFG), typically follows given recommendations from the Council on Ethics appointed by Norway’s Ministry of Finance when it comes to excluding companies for the sovereign wealth fund. For over a decade now, Wal-Mart Stores Inc. and Wal-Mart De Mexico SA de CV remain on the […]


For How Much Longer Are Sovereign Funds Expecting Lower Volatility?

Given that U.S. stock market volatility remains subdued and measures are touching new lows, some chief investment officers are growing concerned that a possible equity market correction could occur in the near term. Sovereign investors have expressed a level of unease over the flood of quantitative easing money seeping into global equity markets. These central […]


Snack, Crackle, Drop! Temasek Exits Snapchat

A number of high profile concentrated investors had sold off positions in Snap Inc., a social media app company, post-March 2017. David Tepper’s Appaloosa Management dumped 100,000 shares of Snap during the second quarter of 2017, while increasing his hedge fund’s position in Facebook stock. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers […]


Norway’s Ministry of Finance Names Commission to Study Wealth Fund Investments

Norway’s Ministry of Finance named a commission to analyze, review and assess the current management of Norway’s Government Pension Fund Global (GPFG). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


KUNA News: KIA Generated Roughly $150 Billion Over the Last 6 Years in Net Income

According to KUNA News Agency, state-owned news outlet in Kuwait, the Kuwait Investment Authority (KIA) earned a net income of 45.2 billion KWD (US$ 148 billion) over the last six fiscal years ended March 31. KIA had revealed the update on its returns, after the sovereign fund experienced a loss from its investments in Areva, […]


asset allocation

TECH FEVER: Nikko Asset Management Buys Stake in ARK Investment Management

Nikko Asset Management has acquired a minority ownership interest in New York-based ARK Investment Management LLC. The deal entails that Nikko Asset Management will have exclusivity to offer ARK products and investment strategies in Japan and the Asia Pacific. Furthermore, Nikko Asset Management will be able to access and work with ARK’s analyst team which […]


Invesco Losing Ground with Sovereign Funds

A number of prominent Western asset managers have lost ground with Gulf sovereign funds, partly over performance and partly due to the prolonged “low” price of oil. Sovereign funds in the Gulf have been sensitive about potential allocations due to future cash withdrawals. In addition, large cash-rich Gulf sovereign funds are looking for external fund […]


SWFI First Read, August 1, 2017

Ireland Strategic Investment Fund Struggles with Bank Holdings [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI – Movers and Shakers – July 31, 2017

Allianz Global Investors Hires Jason Green for SE Asia Institutional Side Allianz Global Investors hired Jason Green as head of institutional business for Southeast Asia. This is a new position and he will be based in Singapore. Green was Executive Director, Client Adviser of Asia Sovereign and Institutional Group at J.P. Morgan Asset Management. Koh […]


Obama’s myRA Program Ends

The U.S. Treasury closed the myRA program, a retirement savings plan. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


tibbles

SWFI First Read, July 21, 2017

GIC Puts Bluewater Shopping Centre Stake for Sale Singapore’s GIC Private Limited has put its stake in the Bluewater Shopping Centre on the market. GIC has a 17.5% ownership stake in the Kent property. GIC is asking for more than £400 million. GIC hired Knight Frank to manage the sales process. The main owner of […]


2Q LMTI Transparency Index Released

SWFI research has released the Second Quarter 2017 of the Linaburg-Maduell Transparency Index (LMTI). NOTES The Texas Permanent University Fund was added with an initial score of 9. The North Dakota Legacy Fund was added with an initial score of 8. The Russian Direct Investment Fund was added with an initial score of 7. Coverage […]


Frankfurt Real Estate

Sovereign Funds Mandated to Greater Disclosure When Acquiring European Assets

As sovereign funds conduct more direct investments across continental Europe, regulators are requiring a higher level of transparency and insight into their operations. Sovereign wealth funds will have to provide more information to proper authorities when buying a significant control position in European companies or assets. Wealth funds will have to detail their investment policies […]


iShares Keeps BlackRock Growing

Goliath-manager BlackRock posted its latest quarterly results, revealing a 5% rise in assets under management (AUM). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Temasek Continues Investment Shift, Reaches Net Portfolio Value of S$ 275 Billion

Singapore’s Temasek Holdings issued their 2016 annual review, the Temasek Review, revealing a record net portfolio value of S$ 275 billion. The sovereign investor generated dividend income of S$ 7 billion for the year ended March 31, 2017 – a figure 19 times Temasek’s interest expense for the entire fiscal year. Since 2014, Temasek had […]


ETF GAME: CICC Buys a Majority Stake in Krane Funds Advisors

China International Capital Corporation Limited (CICC) is adding more capabilities to its product line by buying a majority 50.1% ownership stake in Krane Funds Advisors, LLC. Krane Funds Advisors is a New York-based asset manager known for its exchange-traded fund (ETF) product suite known as KraneShares. The deal also enables CICC a greater entry way […]


CIC Experiences AUM Growth in Overseas Investment Unit

The China Investment Corporation (CIC) released its 2016 annual report. Like many other peer sovereign fund reports, there was an emphasis on political uncertainty regarding powerful Western countries and how they had impacted returns for the 2016 fiscal year. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. […]


GIC Expresses Cautionary Approach for Future Investment Periods

Singapore’s GIC Private Limited recently released its annual report, embracing a cautious tone. The Singaporean wealth fund had a challenging run for its latest fiscal year in terms of performance. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


FSI is on the Rise to Stimulate Italian SMEs

Italy is a major manufacturing economy in continental Europe, with a large presence of family-owned businesses. The Fondo Strategico Italiano (FSI) has been under the umbrella of Italy’s state lender Cassa Depositi e Presititi (CDP). The FSI is taking a significant stance on assisting Italian firms’ ability to access new capital to compete in international […]