Policy

FCA Refers Investment Consulting Concentration Issue to Competition and Markets Authority

In September, the U.K. Financial Conduct Authority (FCA) formally reached out to the Competition and Markets Authority (a U.K. anti-trust body), through the market investigation reference mechanism, regarding concerns of over concentration in the investment consulting industry. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


FSDEA Reaches Profitability, Assets Grow in 2016

Fundo Soberano de Angola (FSDEA) released its audited financial for the latest fiscal year 2016. FSDEA revealed that total assets grew to US$ 4.99 billion from US$ 4.75 billion in 2015. In addition, FSDEA’s investment portfolio was heavily weighted at 58% toward sub-Saharan Africa. The fund generated US$ 44 million in income, reaching profitability for […]


Nor Mohamed Yakcop to Exit Board of Directors at Khazanah

Nor Mohamed Yakcop, Deputy Chairman of Khazanah Nasional Berhad, plans to exit the board of directors, effective September 30, 2017. Yakcop served on Khazanah’s board for 15 years. He was the longest serving board member at the wealth fund and the only deputy chairman in the fund’s history. On August 6, 2017, Nor Mohamed Yakcop […]


KIC Officially Opens Singapore Office, Eyes Southeast Asia, India and Australia

The Korea Investment Corporation (KIC) opened its Singapore branch office, located at Asia Square Tower. Guests for the inaugural opening include Singaporean government leaders, sovereign funds, and asset managers. KIC plans to invest more into real estate, infrastructure and other alternatives in markets such as Southeast Asia, India, Oceania and Australia. Some guests include: Lawrence […]


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GIC Increases Position in Citic Securities

Singapore’s GIC Private Limited increased its stake in CITIC Securities Co. Ltd. , according to a September 12, 2017 Hong Kong Exchange filing. GIC acquired 2,334,000 H shares at an average price per share of HK$ 17.3529. The transaction brought GIC’s ownership in Citic Securities from 4.99% to 5.09%. Bannon Speaks in Hong Kong In […]


KIC CEO Maybe Leaving for Export-Import Bank of Korea Top Job

Sung-soo Eun, the current Chief Executive of the Korea Investment Corporation (KIC), was selected as Head of the Export-Import Bank of Korea, after a recommendation from South Korea’s Minister of Finance Dong-yeon Kim. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Fullerton Fund Management Receives PFM License from AMAC

Fullerton Fund Management, a sovereign wealth enterprise of Singapore’s Temasek Holdings, received approval for a private fund management license from the Asset Management Association of China. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


RDIF and JBIC Move Forward on Russia-Japan Investment Fund

The Russian Direct Investment Fund (RDIF) and Japan Bank for International Cooperation (JBIC) formally created the Russia-Japan Investment Fund (RJIF). RJIF is already analyzing a few deals. The initial Memorandum of Understanding (MoU) between RDIF and JBIC was inked back in December 2016, in which both parties contributed US$ 500 million each.


Fullerton Fund Management and NTUC Are Merging

Fullerton Fund Management Company Ltd., a unit of Singapore’s Temasek Holdings, will be managing NTUC Income Insurance Co-operative Limited’s (NTUC) public asset portfolio as part of a larger deal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Should the UK have a Sovereign Wealth Fund?

This article is written by Matthew Eyton-Jones. Many countries, including Qatar, Kuwait, Singapore, Norway and Australia, have well established sovereign wealth funds, most of which were set up to provide for a day when the income from natural resources like oil and gas runs out. This makes sense for countries that are heavily reliant on […]


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Collateral: The New Performance Driver

This article is sponsored by BNY Mellon. In 2017, the global buy-side community faces considerable liquidity and funding pressures, stemming from market and regulatory reforms that are causing disruption. As a result, access to high-quality collateral, funding and liquidity is not only a pressing concern but has emerged as the essential new performance driver for […]


4 NMSIC Members Sanctioned Over Opposing New Ethics Code

Four council members of the New Mexico State Investment Council (NMSIC) have refused to sign an acknowledgment of the council’s new code of conduct prompting a sanctions vote. These council members are Leonard Lee Rawson, Tim Jennings, New Mexico State Treasurer Tim Eichenberg and New Mexico Land Commissioner Aubrey Dunn. [ Content protected for Sovereign […]


St. Martin’s Property Oversight Moved to Kuwait from London KIO

The Kuwait Investment Authority (KIA) has undertaken a significant restructuring plans for its real estate unit St. Martin’s Property. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Rashed Sharif to Head Saudi PIF’s Domestic Investments

Saudi Arabia’s Public Investment Fund (PIF) named Rashed Sharif as head of domestic investments. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Norway SWF on Path to $1 Trillion in Assets

Norway’s Government Pension Fund Global (GPFG) revealed its second quarter 2017 figures. The wealth fund had surpassed US$ 954 billion in assets at the end of June, on its path toward US$ 1 trillion. For the second quarter of 2017, the fund returned 2.6%, or 202 billion NOK. The listed equity allocation for the fund […]


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. ]