Opalesque Sovereign Wealth Funds Briefing » Fund Management/Administration http://www.opalesque.com/SWF_Briefing Fri, 24 Jun 2016 03:28:30 +0000 http://wordpress.org/?v=2.5.1 en Bahrain’s SWF has no plans to borrow this year-CEO http://www.opalesque.com/SWF_Briefing/?p=20063 http://www.opalesque.com/SWF_Briefing/?p=20063#comments Tue, 21 Jun 2016 03:27:03 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20063 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20063>Article Link</a> Bahrain’s sovereign wealth fund Mumtalakat plans to finance its projects this year using income from investments and will not seek loans or government assistance, its chief executive said. (more…)

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Miner Kenmare plots to raise 10 times its market cap with £250m turnaround plan http://www.opalesque.com/SWF_Briefing/?p=20057 http://www.opalesque.com/SWF_Briefing/?p=20057#comments Tue, 21 Jun 2016 03:25:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20057 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20057>Article Link</a> Dublin-based miner Kenmare Resources intends to raise 10 times its £26m market cap in an ambitious capital raising that could see it eliminate debt and restore its share price from penny-stock status. (more…)

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Libya SWF adviser says execs who invested in derivatives were financially “illiterate” http://www.opalesque.com/SWF_Briefing/?p=20046 http://www.opalesque.com/SWF_Briefing/?p=20046#comments Fri, 17 Jun 2016 01:04:33 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20046 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20046>Article Link</a> Top decision makers at Libya’s $67 billion sovereign wealth fund were “illiterate” in terms of investment with little knowledge of the derivatives instruments purchased on the advice of Goldman Sachs, an adviser to the fund told a court on Thursday. (more…)

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Temasek sets up panel of advisers for Americas http://www.opalesque.com/SWF_Briefing/?p=20041 http://www.opalesque.com/SWF_Briefing/?p=20041#comments Fri, 17 Jun 2016 01:03:27 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20041 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20041>Article Link</a> Temasek Holdings announced the formation of an advisory panel yesterday that comprises some of the most eminent business figures in the Americas. The Temasek Americas Advisory Panel (TAAP), which held its first meeting this week in New York, has seven members, including PepsiCo chairman and chief executive Indra Nooyi, Honeywell International chairman and CEO David Cote, and former US treasury secretary Timothy Geithner, who also chairs TAAP. (more…)

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New CIO Named at Korea Investment Corp http://www.opalesque.com/SWF_Briefing/?p=20032 http://www.opalesque.com/SWF_Briefing/?p=20032#comments Wed, 15 Jun 2016 01:48:03 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20032 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20032>Article Link</a> Days after news broke of CIO Heung-sik Choo’s departure for the World Bank, the Korea Investment Corporation (KIC) has announced its next investment chief. As of June 13, Shinwoo Kang leads investments for KIC, the $91.8 billion sovereign wealth fund said Tuesday. Kang is the fifth CIO since the fund’s 2005 launch. (more…)

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Former Goldman Sachs executive denies paying for ‘improper entertainment’ in LIA case http://www.opalesque.com/SWF_Briefing/?p=20027 http://www.opalesque.com/SWF_Briefing/?p=20027#comments Wed, 15 Jun 2016 01:47:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20027 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20027>Article Link</a> A Goldman Sachs executive at the centre of a $1.2 billion (£850 million) claim brought by Libya’s sovereign wealth fund has denied allegations he paid for “improper entertainment” for himself and the younger brother of a key decision-maker at the fund on a business trip. (more…)

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Libyan fund alleges Goldman took advantage of its inexperience http://www.opalesque.com/SWF_Briefing/?p=20026 http://www.opalesque.com/SWF_Briefing/?p=20026#comments Wed, 15 Jun 2016 01:46:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20026 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20026>Article Link</a> Libya’s sovereign wealth fund, in a long-awaited trial that started on June 13, alleged Goldman Sachs took advantage of its lack of financial sophistication to draw it into losing trades. Emails in the case show Goldman executives saying that the Libyan fund had little experience in finance. “They are very unsophisticated – and anyone could ‘rape’ them,” one executive wrote in 2008. (more…)

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ANZ Strategist Sam Tuck Quits to Join Sovereign Wealth Fund http://www.opalesque.com/SWF_Briefing/?p=20004 http://www.opalesque.com/SWF_Briefing/?p=20004#comments Mon, 13 Jun 2016 01:56:14 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20004 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20004>Article Link</a> Sam Tuck, a senior currency strategist at ANZ Bank New Zealand Ltd. in Auckland, said he is leaving the company to join the country’s sovereign wealth fund. “Today is my last day at ANZ,” he wrote in an e-mail Friday. Tuck, 38, said via instant message he will join the New Zealand Superannuation Fund. (more…)

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India Says National Infra Fund CEO To Be Appointed Shortly http://www.opalesque.com/SWF_Briefing/?p=20001 http://www.opalesque.com/SWF_Briefing/?p=20001#comments Fri, 10 Jun 2016 02:49:58 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20001 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20001>Article Link</a> The National Investment and Infrastructure Fund (NIIF), India’s maiden sovereign wealth fund, will in “imminent” future get its chief executive, an appointment that was holding up the roll-out of investment proposals. (more…)

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How to Manage $2 Trillion If You’re New at It http://www.opalesque.com/SWF_Briefing/?p=19994 http://www.opalesque.com/SWF_Briefing/?p=19994#comments Fri, 10 Jun 2016 02:48:21 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19994 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19994>Article Link</a> Saudi Arabia is about to confront a serious challenge: Where and how to invest the money in a gigantic new sovereign wealth fund created as part of an effort to diversify its economy and pivot away from its dependence on oil. (more…)

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Indian FM Arun Jaitley reviews sovereign wealth fund’s status http://www.opalesque.com/SWF_Briefing/?p=19991 http://www.opalesque.com/SWF_Briefing/?p=19991#comments Thu, 09 Jun 2016 01:49:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19991 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19991>Article Link</a> A panel headed by Finance Minister Arun Jaitley on Wednesday took stock of the progress made on operationalising India’s maiden sovereign wealth fund National Investment and Infrastructure Fund (NIIF), including the selection of its CEO and projects shortlisted for making initial investments. (more…)

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Norway to raise spending from wealth fund -statistics agency http://www.opalesque.com/SWF_Briefing/?p=19955 http://www.opalesque.com/SWF_Briefing/?p=19955#comments Fri, 03 Jun 2016 04:00:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19955 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19955>Article Link</a> Norway will probably continue to increase the spending of money from its $860 billion sovereign wealth fund next year as the government battles an economic downturn, Statistics Norway’s chief forecaster Torbjoern Eika (SSB) predicted on Thursday. (more…)

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India mulls ‘outcome-linked’ incentive for NIIF chief http://www.opalesque.com/SWF_Briefing/?p=19942 http://www.opalesque.com/SWF_Briefing/?p=19942#comments Thu, 02 Jun 2016 02:09:51 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19942 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19942>Article Link</a> The government is considering an ‘outcome-linked’ payment package as part of incentives for the recruitment of a chief executive of India’s first sovereign wealth fund, the National Investment and Infrastructure Fund (NIIF). (more…)

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New 1MDB board must find out what happened to US$7 billion http://www.opalesque.com/SWF_Briefing/?p=19935 http://www.opalesque.com/SWF_Briefing/?p=19935#comments Thu, 02 Jun 2016 02:04:32 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19935 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19935>Article Link</a> The new 1MDB board of directors must immediately instruct auditors Deloitte to resume its audit of the firm so as to get a full picture of the company’s financial standing, Petaling Jaya Utara MP Tony Pua said. The audit is on the financial year ending March 31, 2015 and March 31, 2016. (more…)

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Malaysia announces wind-up of 1MDB http://www.opalesque.com/SWF_Briefing/?p=19924 http://www.opalesque.com/SWF_Briefing/?p=19924#comments Wed, 01 Jun 2016 02:13:23 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19924 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19924>Article Link</a> Malaysia has replaced the board of 1Malaysia Development Berhad with treasury officials, paving the way for the dissolution of the troubled state investment fund. (more…)

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Malaysia appoints new 1MDB directors http://www.opalesque.com/SWF_Briefing/?p=19923 http://www.opalesque.com/SWF_Briefing/?p=19923#comments Wed, 01 Jun 2016 02:13:12 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19923 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19923>Article Link</a> Malaysia appointed new directors to 1Malaysia Development Berhad (1MDB) after dissolving the advisory board headed by Malaysian Prime Minister Najib Razak, amid global investigations into alleged money laundering and embezzlement at the state fund. (more…)

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Norway Oil Fund Adds External Managers http://www.opalesque.com/SWF_Briefing/?p=19921 http://www.opalesque.com/SWF_Briefing/?p=19921#comments Wed, 01 Jun 2016 02:12:41 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19921 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19921>Article Link</a> Norway’s sovereign-wealth fund, the world’s largest by assets, said Tuesday that external organizations are managing more of its money compared with three years ago, as the fund continues to add local expertise in emerging markets. (more…)

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Stay Away From Indian Indexes, Biggest Wealth Fund Manager Says http://www.opalesque.com/SWF_Briefing/?p=19920 http://www.opalesque.com/SWF_Briefing/?p=19920#comments Wed, 01 Jun 2016 02:12:21 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19920 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19920>Article Link</a> Quantum Advisors, which picks Indian stocks for Norway’s $860 billion wealth fund, says investors should stay away from index investing in Asia’s fourth-biggest market. Investing in indexes is a poor place to put money because you don’t necessarily go into the companies with the most potential, said Ajit Dayal, the director of the Mumbai-based fund, which manages $2 billion in Indian equities. (more…)

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Norway wealth fund needs policy on tax declarations: committee http://www.opalesque.com/SWF_Briefing/?p=19916 http://www.opalesque.com/SWF_Briefing/?p=19916#comments Mon, 30 May 2016 23:57:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19916 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19916>Article Link</a> Norway’s $860-billion sovereign wealth fund, the world’s largest, must develop a policy on how companies in which it has invested declare their taxes, parliament’s finance committee said. The fund, managed by a unit of the central bank, invests the income from Norway’s oil industry. It owns 1.3 percent of the world’s listed company equity, with stakes in some 9,050 firms. (more…)

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Norway’s sovereign wealth fund, its manager get museum treatment http://www.opalesque.com/SWF_Briefing/?p=19914 http://www.opalesque.com/SWF_Briefing/?p=19914#comments Mon, 30 May 2016 23:57:18 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19914 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19914>Article Link</a> Ever wondered how the world’s largest sovereign wealth fund, the Government Pension Fund Global, Oslo, is managed? Well, now’s your chance to find out. In tandem with the 200th birthday of Norges Bank’s establishment, following Norway’s separation from Denmark; and the 20th anniversary of Norway’s Ministry of Finance’s first capital transfer to the fund, Norges Bank and the Norwegian Petroleum Museum have launched an anniversary exhibit at the museum in Stavanger, Norway, according to the museum’s website. (more…)

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Qatar Investment Authority taking steps to restructure assets http://www.opalesque.com/SWF_Briefing/?p=19913 http://www.opalesque.com/SWF_Briefing/?p=19913#comments Mon, 30 May 2016 23:57:03 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19913 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19913>Article Link</a> In an attempt to manage a significant amount of capital, the Qatar Investment Authority (QIA) is apparently shuffling up to $100 billion into new investment efforts in what Arabian Business magazine is calling a “major overhaul.” A magazine story in mid-May said the Qatari sovereign wealth fund (SWF) is creating a new internal division called Qatar Investments, to be headed by Ahmed Al Rumaihi, formerly a diplomat in the United States. (more…)

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Norway to regulate $850 billion fund’s tax haven exposure-lawmakers http://www.opalesque.com/SWF_Briefing/?p=19886 http://www.opalesque.com/SWF_Briefing/?p=19886#comments Fri, 27 May 2016 00:30:56 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19886 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19886>Article Link</a> Norway will take a first step this week towards using its $850 billion sovereign wealth fund, the world’s biggest, as a tool to combat the use of tax havens, two key members of parliament’s finance committee told Reuters on Wednesday. (more…)

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Saudi wealth fund said to weigh US$8b bid for financial hub http://www.opalesque.com/SWF_Briefing/?p=19882 http://www.opalesque.com/SWF_Briefing/?p=19882#comments Thu, 26 May 2016 01:26:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19882 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19882>Article Link</a> Saudi Arabia’s Public Investment Fund is likely to make an offer next month to buy Riyadh’s unfinished financial hub as the government attempts to rehabilitate a project plagued by delays and cost overruns. (more…)

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Hong Kong Monetary Authority looks to improve banks’ cyber security http://www.opalesque.com/SWF_Briefing/?p=19876 http://www.opalesque.com/SWF_Briefing/?p=19876#comments Thu, 26 May 2016 01:24:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19876 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19876>Article Link</a> The banking regulator began a three-month consultation into the initiative on Tuesday, designed to ensure banks are ready to face online threats. The banking regulator is considering plans to require banks in the city to assess their resilience to cyber attacks and ways to train more qualified cybersecurity experts. From Tuesday, the Hong Kong Monetary Authority began a three-month consultation into the initiative. (more…)

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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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