Opalesque Sovereign Wealth Funds Briefing » Fund Management/Administration http://www.opalesque.com/SWF_Briefing Tue, 24 May 2016 00:51:40 +0000 http://wordpress.org/?v=2.5.1 en Oil Fund wielded its clout over bank executives’ pay http://www.opalesque.com/SWF_Briefing/?p=19849 http://www.opalesque.com/SWF_Briefing/?p=19849#comments Tue, 24 May 2016 00:48:37 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19849 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19849>Article Link</a> Norway’s sovereign wealth fund known as the Oil Fund has followed through on its decision to start using its clout, as a shareholder in major companies around the world, to oppose huge executive pay packages. Newspaper Dagens Næringsliv (DN) reported that it was part of voting down bonus packages last week, for example, for the bosses of Deutsche Bank in Germany. (more…)

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Sujoy Bose may head India’s quasi-sovereign wealth fund NIIF http://www.opalesque.com/SWF_Briefing/?p=19816 http://www.opalesque.com/SWF_Briefing/?p=19816#comments Wed, 18 May 2016 03:29:56 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19816 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19816>Article Link</a> Sujoy Bose, the global co-head for infrastructure and natural resources at International Finance Corporation, is likely to be appointed as the first CEO of India’s pioneering quasi-sovereign wealth fund, (SWF) the National Infrastructure and Investment Fund (NIIF), official sources told FE. (more…)

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Malaysia Says Too Early to Conclude Fraud in 1MDB-Abu Dhabi Deal http://www.opalesque.com/SWF_Briefing/?p=19814 http://www.opalesque.com/SWF_Briefing/?p=19814#comments Wed, 18 May 2016 03:29:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19814 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19814>Article Link</a> Malaysia said Tuesday it’s too early to conclude if fraud had occurred in dealings between its troubled state company and an Abu Dhabi sovereign wealth fund. 1Malaysia Development Bhd., which is the subject of global investigations, said last month it could be a victim of fraud if payments of $3.5 billion intended for Abu Dhabi’s International Petroleum Investment Co. never made it there. (more…)

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Qatar wealth fund ‘to create $100bn unit in revamp’ http://www.opalesque.com/SWF_Briefing/?p=19808 http://www.opalesque.com/SWF_Briefing/?p=19808#comments Wed, 18 May 2016 03:27:54 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19808 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19808>Article Link</a> Qatar’s sovereign wealth fund is undergoing its biggest overhaul since 2014, grouping $100bn of investments in local companies into a new unit and abandoning the Qatar Holding name synonymous with its highest-profile deals. About $100bn of the Qatar Investment Authority’s stakes in companies such as Qatar Airways and Qatar National Bank will be placed into a new internal division named Qatar Investments, they said. (more…)

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UAE sovereign wealth funds hiring in-house to cut costs http://www.opalesque.com/SWF_Briefing/?p=19803 http://www.opalesque.com/SWF_Briefing/?p=19803#comments Tue, 17 May 2016 02:32:52 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19803 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19803>Article Link</a> Measures are seen as a means of reducing the “huge fees” some funds pay to external managers. Sovereign wealth funds in the UAE are increasing in-house recruitment and consolidating their holdings under larger private equity players to cut costs, according to law firm Baker Baker & McKenzie. (more…)

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Companies listen when Norway’s oil fund shouts http://www.opalesque.com/SWF_Briefing/?p=19799 http://www.opalesque.com/SWF_Briefing/?p=19799#comments Tue, 17 May 2016 02:31:55 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19799 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19799>Article Link</a> When the quiet one in the room suddenly shouts, people tend to listen. On that basis, the reserved and thoughtful Norwegians who run the country’s $850bn oil fund should get a decent hearing next time they visit Wolfsburg, having declared they will sue Volkswagen over the emissions scandal. (more…)

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Norwegian oil fund attacks VW corporate governance http://www.opalesque.com/SWF_Briefing/?p=19794 http://www.opalesque.com/SWF_Briefing/?p=19794#comments Mon, 16 May 2016 03:19:53 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19794 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19794>Article Link</a> Norway’s $850bn oil fund does not like commenting about individual companies it owns shares in. It usually goes out of its way to avoid saying anything about any of its more than 9,000 investments. (more…)

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1MDB Default Shows Malaysia SOE Debt, Governance Risks http://www.opalesque.com/SWF_Briefing/?p=19792 http://www.opalesque.com/SWF_Briefing/?p=19792#comments Mon, 16 May 2016 03:19:29 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19792 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19792>Article Link</a> 1Malaysia Development Berhad’s (1MDB) missed bond coupon payment in April highlights ongoing uncertainty around the finances and governance of the state-owned fund. The situation is unlikely to lead to an immediate crystallization of the existing guarantee obligations of the Malaysian sovereign for 1MDB securities affected by cross-defaults, Fitch Ratings says. (more…)

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KIC to appoint domestic managers for offshore alternative mandates http://www.opalesque.com/SWF_Briefing/?p=19790 http://www.opalesque.com/SWF_Briefing/?p=19790#comments Mon, 16 May 2016 03:18:59 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19790 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19790>Article Link</a> Korea’s sovereign wealth fund (SWF), Korea Investment Corporation (KIC), is reportedly planning to select a roster of local asset managers and securities brokerages as general partners responsible for the operation of its overseas alternative investments. (more…)

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KIC to team with local firms for overseas investments: chief http://www.opalesque.com/SWF_Briefing/?p=19789 http://www.opalesque.com/SWF_Briefing/?p=19789#comments Fri, 13 May 2016 03:24:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19789 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19789>Article Link</a> Korea’s sovereign wealth fund is willing to team up with local brokerages and asset management firms to invest in overseas infrastructure projects, its chief said Wednesday. The Korea Investment Corp., which manages about $90-billion assets, has rarely cooperated with local investment firms before. (more…)

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Top SWF alternatives allocator questions hedge funds’ nous http://www.opalesque.com/SWF_Briefing/?p=19779 http://www.opalesque.com/SWF_Briefing/?p=19779#comments Fri, 13 May 2016 03:22:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19779 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19779>Article Link</a> A top allocator to alternative investments at the $750 billion China Investment Corporation, one of the world’s largest state investment funds, is unsure most hedge fund managers are as smart as they think they are. (more…)

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Saudi Arabia to transfer KAFD ownership to state wealth fund http://www.opalesque.com/SWF_Briefing/?p=19751 http://www.opalesque.com/SWF_Briefing/?p=19751#comments Tue, 10 May 2016 02:50:18 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19751 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19751>Article Link</a> Saudi Arabia is to transfer ownership of Riyadh’s floundering King Abdullah Financial District to the Public Investment Fund (PIF) from the Public Pension Agency (PPA), according to four sources aware of the matter. (more…)

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Nigeria: FG to Reposition Sovereign Wealth Fund http://www.opalesque.com/SWF_Briefing/?p=19745 http://www.opalesque.com/SWF_Briefing/?p=19745#comments Mon, 09 May 2016 01:33:58 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19745 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19745>Article Link</a> The federal government has disclosed that it plans to reposition the Sovereign Wealth Fund managed by the Nigeria Sovereign Investment Authority (NSIA). The planned repositioning is in tandem with the infrastructure objectives of the federal government. (more…)

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Saudi Arabia’s Vision 2030 is remarkable, but it will still need oil in four years http://www.opalesque.com/SWF_Briefing/?p=19744 http://www.opalesque.com/SWF_Briefing/?p=19744#comments Mon, 09 May 2016 01:33:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19744 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19744>Article Link</a> Prince Mohammed bin Salman’s TV interview to launch Saudi Arabia’s Vision 2030 was an unprecedented event, where headline writers rushed to describe the details as a transformational plan to wean the country off oil. Most remarkable of the things said in that interview on April 25 was the deputy crown prince’s promise to end oil dependence by 2020 – in four short years. (more…)

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Malaysia reforms 1MDB, hopes for fresh start http://www.opalesque.com/SWF_Briefing/?p=19734 http://www.opalesque.com/SWF_Briefing/?p=19734#comments Fri, 06 May 2016 03:18:39 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19734 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19734>Article Link</a> 1 Malaysia Development Berhad, the troubled state fund, will undergo reorganization including the removal of its powerful advisory board. The move aims to give the fund a fresh start and to improve its tarnished image by passing the buck of decision-making to its parent, the Ministry of Finance, which is headed by Prime Minister Najib Razak. (more…)

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Najib to be stripped of veto power over 1MDB’s decisions http://www.opalesque.com/SWF_Briefing/?p=19720 http://www.opalesque.com/SWF_Briefing/?p=19720#comments Thu, 05 May 2016 03:20:59 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19720 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19720>Article Link</a> Malaysia’s Finance Ministry has taken up the recommendations put forward by a parliamentary committee probe into troubled 1Malaysia Development Berhad (1MDB), including the removal of Prime Minister Najib Razak’s veto power over major decisions by the state investor. (more…)

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Malaysia dissolves 1MDB advisory board after payments probe http://www.opalesque.com/SWF_Briefing/?p=19718 http://www.opalesque.com/SWF_Briefing/?p=19718#comments Thu, 05 May 2016 03:20:34 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19718 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19718>Article Link</a> Malaysia dissolved the advisory board of state investment fund 1MDB and is set to abolish a clause that gives the prime minister the final say over its investment decisions on Wednesday, as it moves to implement governance reforms recommended by a parliamentary inquiry. (more…)

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Argyle ‘to manage $62m pool from Temasek unit’ http://www.opalesque.com/SWF_Briefing/?p=19716 http://www.opalesque.com/SWF_Briefing/?p=19716#comments Thu, 05 May 2016 03:20:09 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19716 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19716>Article Link</a> A unit of Temasek Holdings has given a $62 million pool of investments to Argyle Street Management, in the second such allocation by the firm to the Hong Kong asset manager, according to people familiar with the matter. (more…)

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Executive pay crackdown by Norway’s huge public fund http://www.opalesque.com/SWF_Briefing/?p=19709 http://www.opalesque.com/SWF_Briefing/?p=19709#comments Wed, 04 May 2016 01:20:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19709 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19709>Article Link</a> The world’s biggest sovereign wealth fund plans to target excessive executive pay. Norges Bank is currently looking for a company that it considers to be overpaying executives, and will then use that firm as an example in a report to outline the fund’s position on pay. (more…)

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World’s biggest fund will use its power to end boardroom greed http://www.opalesque.com/SWF_Briefing/?p=19701 http://www.opalesque.com/SWF_Briefing/?p=19701#comments Tue, 03 May 2016 01:37:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19701 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19701>Article Link</a> The world’s biggest fund is to use its huge influence to vote against fat cat pay and boardroom bad behaviour. Norway’s sovereign wealth fund - which has £595bn ($NZ1,240 billion) invested around the globe - will break its silence on excessive salaries at major companies and plans to shame the top payers. (more…)

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Norwegian wealth fund to focus on executive pay at AGMs http://www.opalesque.com/SWF_Briefing/?p=19700 http://www.opalesque.com/SWF_Briefing/?p=19700#comments Tue, 03 May 2016 01:37:21 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19700 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19700>Article Link</a> Head of world’s biggest wealth fund says levels of pay – not just structures – are now becoming a matter for international investor concern. Boardroom bosses have been put on alert that their pay has moved beyond being a focus for UK investors after the biggest wealth fund in the world said it was scrutinising pay deals. (more…)

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World’s largest sovereign fund to weigh in on executive pay controversy http://www.opalesque.com/SWF_Briefing/?p=19699 http://www.opalesque.com/SWF_Briefing/?p=19699#comments Tue, 03 May 2016 01:37:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19699 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19699>Article Link</a> Norway’s sovereign wealth fund, the biggest in the world with shares in more than 9,000 companies, will add its influential voice to those of investors increasingly concerned by executives’ skyrocketing pay. (more…)

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NSIA retains best transparent African Sovereign Wealth firms’ rating http://www.opalesque.com/SWF_Briefing/?p=19695 http://www.opalesque.com/SWF_Briefing/?p=19695#comments Tue, 03 May 2016 01:36:13 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19695 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19695>Article Link</a> The Nigerian Sovereign Investment Authority (NSIA) has retained its strong position in the latest first quarter 2016 Linaburg-Maduell Transparency Index concluded by the Sovereign Wealth Fund Institute (SWFI). The Linaburg-Maduell Transparency Index, the internationally-renowned analyst of sovereign wealth funds, was developed at the Sovereign Wealth Fund Institute in 2008 by Carl Linaburg and Michael Maduell. (more…)

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Norway’s sovereign fund to focus on high executive pay http://www.opalesque.com/SWF_Briefing/?p=19690 http://www.opalesque.com/SWF_Briefing/?p=19690#comments Mon, 02 May 2016 03:25:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19690 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19690>Article Link</a> Norway’s $870-billion sovereign wealth fund is focusing on executive pay, targeting high salaries at companies around the world as it seeks to exert more influence on this issue, the FT.com reported on Sunday. (more…)

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Qatar fund uses more external managers, cuts focus on Europe http://www.opalesque.com/SWF_Briefing/?p=19686 http://www.opalesque.com/SWF_Briefing/?p=19686#comments Mon, 02 May 2016 03:24:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19686 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19686>Article Link</a> Qatar’s sovereign wealth fund is reducing its focus on investments in Europe and placing more of its money with external managers following an internal review, sources familiar with the matter told Reuters. (more…)

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Who will prevail in standoff between IPIC and 1MDB? http://www.opalesque.com/SWF_Briefing/?p=19668 http://www.opalesque.com/SWF_Briefing/?p=19668#comments Fri, 29 Apr 2016 03:23:55 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19668 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19668>Article Link</a> 1MDB was directed in writing by Abu Dhabi sovereign wealth fund International Petroleum Investment Company (IPIC) then managing director and Aabar Investment PJS chairperson - Khadem al Qubaisi and Mohamed Al Husseiny respectively - to transfer the money into Aabar Investment Ltd BVI. (more…)

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State funds Temasek, GIC revamping leadership to navigate volatile markets http://www.opalesque.com/SWF_Briefing/?p=19664 http://www.opalesque.com/SWF_Briefing/?p=19664#comments Thu, 28 Apr 2016 01:25:29 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19664 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19664>Article Link</a> Singapore’s top state investment firms are shuffling senior management to help navigate choppy global markets. Investment firm Temasek Holdings Pte said on Tuesday that its Americas President Boon Sim is leaving as it appointed two new presidents in the latest management reorganization to help it navigate “challenging global times.” (more…)

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Temasek Holdings reorganises to prioritise investment team http://www.opalesque.com/SWF_Briefing/?p=19663 http://www.opalesque.com/SWF_Briefing/?p=19663#comments Thu, 28 Apr 2016 01:25:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19663 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19663>Article Link</a> Temasek Holdings has reorganised its senior management to refocus its investment team to cope with volatile markets. The reorganisation which sees the promotion of six investment professionals is a move by Temasek International (TI) chief executive Lee Theng Kiat to refine roles and set priorities. (more…)

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Temasek names 2 new presidents in management reshuffle http://www.opalesque.com/SWF_Briefing/?p=19654 http://www.opalesque.com/SWF_Briefing/?p=19654#comments Wed, 27 Apr 2016 01:13:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19654 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19654>Article Link</a> State investment firm Temasek Holdings has appointed two new presidents in a management reshuffle to help it navigate “challenging times”. Mr Chia Song Hwee and Mr Dilhan Pillay have been promoted to presidents, joining president Gregory Curl, the firm said in a statement on its website on Tuesday (Apr 26). (more…)

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Temasek revamps leadership ranks amid volatile markets http://www.opalesque.com/SWF_Briefing/?p=19653 http://www.opalesque.com/SWF_Briefing/?p=19653#comments Wed, 27 Apr 2016 01:13:33 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19653 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19653>Article Link</a> Singapore’s sovereign wealth funds are shuffling senior management to help navigate choppy global markets. Temasek Holdings said Tuesday that Boon Sim, its Americas president, is leaving as it appointed two new presidents in the latest management reorganization to help it navigate “challenging global times.” (more…)

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Temasek Restructures, Loses Americas Chief http://www.opalesque.com/SWF_Briefing/?p=19652 http://www.opalesque.com/SWF_Briefing/?p=19652#comments Wed, 27 Apr 2016 01:13:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19652 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19652>Article Link</a> Singapore sovereign fund Temasek International is reorganizing its management structure to prepare for “challenging global times,” the fund announced Tuesday. The S$266 billion (US$197 billion) fund said it has appointed Chia Song Hwee and Dilhan Pillay—current joint heads of investments—as presidents. (more…)

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GIC Reshuffles Leadership, Adds New CIOs http://www.opalesque.com/SWF_Briefing/?p=19619 http://www.opalesque.com/SWF_Briefing/?p=19619#comments Mon, 25 Apr 2016 00:15:06 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19619 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19619>Article Link</a> Singapore’s sovereign wealth fund GIC has announced a management reshuffle involving the appointment of five new CIOs to oversee each of its main asset classes. Group CIO Lim Chow Kiat has been named deputy group president in addition to retaining his current position. President of Public Markets Jeffrey Jaensubhakij becomes deputy group CIO. (more…)

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GIC Names Lim Chow Kiat Deputy President as It Adds New Leaders http://www.opalesque.com/SWF_Briefing/?p=19615 http://www.opalesque.com/SWF_Briefing/?p=19615#comments Fri, 22 Apr 2016 03:17:21 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19615 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19615>Article Link</a> Singapore’s sovereign wealth fund GIC Pte gave Group Chief Investment Officer Lim Chow Kiat the additional title of deputy group president as part of a leadership shuffle appointing seven managers to new roles. (more…)

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New senior leadership appointments, chief investment officers at GIC http://www.opalesque.com/SWF_Briefing/?p=19614 http://www.opalesque.com/SWF_Briefing/?p=19614#comments Fri, 22 Apr 2016 03:17:14 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19614 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19614>Article Link</a> Sovereign wealth fund GIC has announced senior leadership appointments to strengthen its investment capacity, it said in a news release on Thursday (Apr 21).From Jun 1, Mr Lim Chow Kiat will have the additional appointment of Deputy Group President, while serving concurrently as Group Chief Investment Officer. Dr Jeffrey Jaensubhakij will be appointed Deputy Group Chief Investment Officer, and will also serve as President, Public Markets. (more…)

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Graft Denials Come Under Strain in Malaysia Fund Scandal http://www.opalesque.com/SWF_Briefing/?p=19591 http://www.opalesque.com/SWF_Briefing/?p=19591#comments Wed, 20 Apr 2016 03:49:21 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19591 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19591>Article Link</a> Malaysia’s prime minister and the company he founded, 1MDB, have weathered a year-long barrage of corruption allegations with nothing-to-see-here assurances, but a string of recent revelations is placing those denials under growing strain. (more…)

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Saudi Arabia said to hire bankers for planned US$2t sovereign wealth fund http://www.opalesque.com/SWF_Briefing/?p=19590 http://www.opalesque.com/SWF_Briefing/?p=19590#comments Wed, 20 Apr 2016 03:48:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19590 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19590>Article Link</a> Saudi Arabia’s Public Investment Fund (PIF) is seeking to recruit senior bankers to help the kingdom run what may become the world’s largest sovereign wealth fund, according to people with knowledge of the matter. (more…)

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NSIA to fund infrastructure with $250m additional capital http://www.opalesque.com/SWF_Briefing/?p=19588 http://www.opalesque.com/SWF_Briefing/?p=19588#comments Wed, 20 Apr 2016 03:47:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19588 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19588>Article Link</a> Nigeria Sovereign Investment Authority, NSIA, managers of Nigeria sovereign wealth fund, has said that 40 per cent of the additional $250 million (an equivalent of N49.3 billion) allocated to it by the Federal Government February this year would be deployed to fund on-going infrastructure projects on behalf of the government. (more…)

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Angela Rodell Rebuilds Alaskan Sovereign Wealth Fund http://www.opalesque.com/SWF_Briefing/?p=19579 http://www.opalesque.com/SWF_Briefing/?p=19579#comments Tue, 19 Apr 2016 03:38:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19579 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19579>Article Link</a> Despite its confidence-inspiring name, Alaska Permanent Fund Corp. is in flux. The state legislature is weighing plans to tap the $52.2 billion Alaska Permanent Fund to make up budget shortfalls while the corporation that manages it reels from the departures of three key executives over the past year. (more…)

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Okonjo-Iweala: I said governors, NOT Jonathan, lacked the political will to save http://www.opalesque.com/SWF_Briefing/?p=19575 http://www.opalesque.com/SWF_Briefing/?p=19575#comments Mon, 18 Apr 2016 03:42:29 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19575 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19575>Article Link</a> Ngozi Okonjo-Iweala, former minister of finance, says her statement blaming the lack of political will to save funds under the administration of former President Goodluck Jonathan has been taken out of context. The former minister had said “zero political will to save in the last administration” was responsible for some of the challenges facing the country. (more…)

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1MDB will leave behind lasting legacy: PM http://www.opalesque.com/SWF_Briefing/?p=19551 http://www.opalesque.com/SWF_Briefing/?p=19551#comments Wed, 13 Apr 2016 02:00:45 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19551 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19551>Article Link</a> State investment firm 1Malaysia Development Bhd (1MDB) will leave behind a lasting “legacy” despite politically-motivated allegations levelled against it, said Prime Minister Datuk Seri Najib Razak. (more…)

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Alaska’s ongoing internal push http://www.opalesque.com/SWF_Briefing/?p=19531 http://www.opalesque.com/SWF_Briefing/?p=19531#comments Mon, 11 Apr 2016 03:34:53 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19531 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19531>Article Link</a> Angela Rodell, chief executive of the $52 billion Alaska Permanent Fund Corporation (APFC) says increasing in-house management capability will be a priority at the fund in the coming year. “External investment will remain important, but we have become much more strategic and thoughtful about our in-house direction,” she says, speaking from APFC’s Juneau headquarters. (more…)

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Korean public funds hesitant to outsource investing to SWF http://www.opalesque.com/SWF_Briefing/?p=19503 http://www.opalesque.com/SWF_Briefing/?p=19503#comments Tue, 05 Apr 2016 01:13:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19503 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19503>Article Link</a> Korea Investment Corp. is looking to leverage its expertise as a sovereign wealth fund invested entirely offshore on behalf of other local pension and public funds in the country, but its target audience might not be ready to jump at the offer. (more…)

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NIIF CEO to be appointed soon http://www.opalesque.com/SWF_Briefing/?p=19502 http://www.opalesque.com/SWF_Briefing/?p=19502#comments Tue, 05 Apr 2016 01:13:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19502 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19502>Article Link</a> Government today said it is in the process of appointing CEO for India’s first Rs 40,000-crore sovereign wealth fund NIIF, which will act as a nodal agency for development of infrastructure. The government in December last year had set up the National Investment and Infrastructure Fund (NIIF), which is an investment vehicle for funding commercially viable greenfield, brown-field and stalled projects. (more…)

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Finance Ministry: 1MDB has no overdue debts http://www.opalesque.com/SWF_Briefing/?p=19499 http://www.opalesque.com/SWF_Briefing/?p=19499#comments Tue, 05 Apr 2016 01:12:21 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19499 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19499>Article Link</a> 1Malaysia Development Berhad (1MDB) does not have any overdue debts, says the Finance Ministry. “1MDB has never failed to settle its debts, including payment of loan interest,” the Ministry said in a written reply to Mohamed Hanipa Maidin (PAS-Sepang) who wanted to know 1MDB’s outstanding debts and lenders. (more…)

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Libyan unity government may get access to Sovereign Wealth Fund http://www.opalesque.com/SWF_Briefing/?p=19484 http://www.opalesque.com/SWF_Briefing/?p=19484#comments Mon, 04 Apr 2016 03:51:16 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19484 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19484>Article Link</a> The Libyan Ambassador to the UN, Ibrahim Dabbashi, wants the UN to approve a sanctions exemption for the Libyan sovereign wealth fund (LIA). The LIA was controlled by the Gadaffi family. (more…)

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Kuwait says no prosecutions in sovereign fund probe http://www.opalesque.com/SWF_Briefing/?p=19467 http://www.opalesque.com/SWF_Briefing/?p=19467#comments Thu, 31 Mar 2016 03:38:40 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19467 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19467>Article Link</a> Kuwait’s cabinet has rejected recommendations by members of parliament to prosecute officials of its sovereign wealth fund for allegedly violating regulations in managing the country’s oil wealth, Finance Minister Anas al-Saleh said on Wednesday. (more…)

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Reports Future Fund viewed as ‘soft touch’ for Adani Funding http://www.opalesque.com/SWF_Briefing/?p=19455 http://www.opalesque.com/SWF_Briefing/?p=19455#comments Wed, 30 Mar 2016 00:51:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19455 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19455>Article Link</a> Financial activist group Market Forces is calling on the Turnbull Government to clarify whether Australia’s sovereign wealth fund – the Future Fund – will be used to subsidise the controversial Adani mega-mine in the Galilee Basin. The call follows Indian media reports that Indian Finance Minister Arun Jaitley will ‘likely push for easy funding from the Australian Government and Future Fund Chair Peter Costello during his visit to Australia this week. (more…)

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Forty years on, Adia continues to evolve and grow http://www.opalesque.com/SWF_Briefing/?p=19427 http://www.opalesque.com/SWF_Briefing/?p=19427#comments Tue, 22 Mar 2016 01:06:33 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19427 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19427>Article Link</a> Abu Dhabi Investment Authority (Adia) said they made great strides in developing internal capabilities and increasing its internal flexibility to adapt to changing market conditions as the sovereign wealth fund celebrates its 40 years existence. (more…)

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ADIA at 40: Sovereign wealth fund has really safeguarded the Emirate, says Eissa Al Suwaidi http://www.opalesque.com/SWF_Briefing/?p=19426 http://www.opalesque.com/SWF_Briefing/?p=19426#comments Tue, 22 Mar 2016 01:06:18 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19426 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19426>Article Link</a> When the Abu Dhabi Government was looking for experienced leaders such as Eissa Al Suwaidi for its newest sovereign wealth fund in 2007, it looked no further than the Emirate’s biggest pool of financial talent: the Abu Dhabi Investment Authority (Adia). (more…)

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Azerbaijan’s president approves amendments to SOFAZ budget http://www.opalesque.com/SWF_Briefing/?p=19417 http://www.opalesque.com/SWF_Briefing/?p=19417#comments Mon, 21 Mar 2016 00:52:54 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19417 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19417>Article Link</a> Azerbaijan’s President Ilham Aliyev has signed a decree on March 18 to make amendments to the 2016 budget of the State Oil Fund of Azerbaijan (SOFAZ). Under the amendments, SOFAZ revenues and expenditures for 2016 were set at 4,578,474,600 manats and 10,668,933,700 manats, respectively. (more…)

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Sovereign wealth funds: Australia is not Alaska http://www.opalesque.com/SWF_Briefing/?p=19414 http://www.opalesque.com/SWF_Briefing/?p=19414#comments Mon, 21 Mar 2016 00:52:09 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19414 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19414>Article Link</a> Last weekend Harold Mitchell explored the Future Fund’s investment performance. As Australia’s sovereign wealth fund, investing over $133 billion in five different public asset funds on behalf of future generations of Australians, we welcome interest in what we do. (more…)

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Temasek Unit Fullerton Appoints Head of Multi-Asset Strategies http://www.opalesque.com/SWF_Briefing/?p=19412 http://www.opalesque.com/SWF_Briefing/?p=19412#comments Fri, 18 Mar 2016 01:31:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19412 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19412>Article Link</a> Fullerton Fund Management Co., owned by Singapore’s Temasek Holdings Pte, has hired Pranay Gupta as head of multi-asset strategies, a new role that it has created as it seeks to offer more investment offerings combining different asset classes. (more…)

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Norway fund picks Centum unit Nabo as assets manager (Kenya) http://www.opalesque.com/SWF_Briefing/?p=19411 http://www.opalesque.com/SWF_Briefing/?p=19411#comments Fri, 18 Mar 2016 01:31:06 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19411 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19411>Article Link</a> Nabo Capital, a subsidiary of investment firm Centum, has been appointed one of the asset managers of Norway’s sovereign wealth fund, the world’s largest at $818 billion (Sh83 trillion). (more…)

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Norway’s $834bn wealth fund defends active management strategy http://www.opalesque.com/SWF_Briefing/?p=19410 http://www.opalesque.com/SWF_Briefing/?p=19410#comments Fri, 18 Mar 2016 01:30:53 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19410 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19410>Article Link</a> Norway’s sovereign wealth fund, the world’s largest, defended on Wednesday its strategy of chasing returns greater than market benchmarks, arguing the benefits outweighed the associated risk and cost. The $834 billion fund, worth more than twice the country’s annual gross domestic product, is invested in foreign stocks, bonds and real estate to share the wealth from oil and gas production with future generations. (more…)

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Is There Growing Politicization Of Norway’s Sovereign Fund? http://www.opalesque.com/SWF_Briefing/?p=19409 http://www.opalesque.com/SWF_Briefing/?p=19409#comments Fri, 18 Mar 2016 01:30:32 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19409 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19409>Article Link</a> Norway has been able to amass tremendous financial wealth from petroleum revenue over the past fifteen years. The wealth fund commands attention from policymakers, asset managers and the citizens of Norway. Thus, Norway’s Government Pension Fund Global (GPFG), the ex-Norway part of oil-derived assets, wields significant influence when it comes to corporate governance and investment policy. (more…)

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Norway’s $834 billion wealth fund defends active management strategy http://www.opalesque.com/SWF_Briefing/?p=19407 http://www.opalesque.com/SWF_Briefing/?p=19407#comments Thu, 17 Mar 2016 01:05:51 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19407 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19407>Article Link</a> Norway’s sovereign wealth fund, the world’s largest, defended on Wednesday its strategy of chasing returns greater than market benchmarks, arguing the benefits outweighed the associated risk and cost. The $834 billion fund, worth more than twice the country’s annual gross domestic product, is invested in foreign stocks, bonds and real estate to share the wealth from oil and gas production with future generations. (more…)

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Norway fund picks Centum unit Nabo as assets manager http://www.opalesque.com/SWF_Briefing/?p=19405 http://www.opalesque.com/SWF_Briefing/?p=19405#comments Thu, 17 Mar 2016 01:05:21 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19405 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19405>Article Link</a> Nabo Capital, a subsidiary of investment firm Centum, has been appointed one of the asset managers of Norway’s sovereign wealth fund, the world’s largest at $818 billion (Sh83 trillion). Nabo, which was established three years ago, was among 11 fund managers picked by the oil revenue-funded Government Pension Fund Global late last year while eight others were dropped. (more…)

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Alaska Permanent Drives to Rebuild Leadership Team http://www.opalesque.com/SWF_Briefing/?p=19399 http://www.opalesque.com/SWF_Briefing/?p=19399#comments Wed, 16 Mar 2016 03:34:39 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19399 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19399>Article Link</a> Former Alaska Permanent Fund CEO Mike Burns retired four months earlier, without a named successor. For a few days, the $52 billion organization had no permanent executive leadership in place. (more…)

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Norway’s Sovereign Wealth Fund Drops Pimco as External Manager http://www.opalesque.com/SWF_Briefing/?p=19387 http://www.opalesque.com/SWF_Briefing/?p=19387#comments Tue, 15 Mar 2016 01:15:59 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19387 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19387>Article Link</a> Norway’s $830 billion sovereign wealth fund last year ended a contract for Pacific Investment Management Co. to handle some of its bond investments. The Newport Beach, California-based fund was one of nine companies dropped last year, according to a comparison of lists of external managers in 2015 and 2014. (more…)

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Leaving the EU is NOT a risk for investors, says world’s largest sovereign wealth fund http://www.opalesque.com/SWF_Briefing/?p=19365 http://www.opalesque.com/SWF_Briefing/?p=19365#comments Fri, 11 Mar 2016 00:20:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19365 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19365>Article Link</a> The boss of the world’s biggest sovereign wealth fund dismissed the prospect of Britain leaving the EU as a large investment risk. In fact, chief executive of Norway’s £884billion fund Yngve Slyngstad said it would INCREASE holdings in the UK even if the country votes out of the bloc in June. (more…)

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