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Sovereign Wealth Funds Briefing 21.May 2015

Posted on 21 May 2015 by VRS |  Email |Print

Big public sector investors are joining the global property boom with plans to shift significant funds into real estate and infrastructure projects over the next three to five years to boost returns. Central bankers’ forum Omfif surveyed 500 public sector institutions with total assets of $29.7tn, which already hold 9.1 per cent in real estate and infrastructure.
The drive into real estate and infrastructure has been led by sovereign wealth funds, such as Norway’s oil fund, and public pension funds. Among other trends identified by the report was the rise of the Asia-Pacific region as the world’s sovereign wealth fund hub when measured by assets under management. Globally, sovereign funds’ assets grew 5.2 per cent in 2014………………………………………..Full Article: Source

Posted on 21 May 2015 by VRS |  Email |Print

Running sovereign wealth funds in the Gulf has become an awkward business in the era of cheap oil, as their managers face growing pressure from politicians and the public to prove they’re investing national reserves wisely.
When oil prices were high, the Gulf funds - which include some of the largest in the world - came under little public scrutiny. Government coffers were awash with energy revenues and the financial futures of the Gulf Arab states seemed secure. But with Brent crude now at little more than half last June’s level, the countries may be entering their toughest fiscal times since the 1990s, and this has changed the political climate………………………………………..Full Article: Source

Posted on 21 May 2015 by VRS |  Email |Print

There are better ways to improve the local government pension scheme (LGPS) than merging it into one big sovereign wealth fund, according to Labour peer Lord John Hutton. He warned it is a “mistake” for ministers to look at the LGPS as a future UK sovereign wealth fund (SWF) that could boost investment in infrastructure projects.
The former Labour minister said it could be a mistake to create what would be the fifth largest pension fund in the world and said we have to “tread carefully” with fund mergers. “It’s a mistake to look at LGPS in that way as we have pension liabilities to pay out. But I do think this appetite for reform among ministers has not waned over the past few months. They’re just waiting for the opportunity to get going with it.”……………………………………….Full Article: Source

Posted on 21 May 2015 by VRS |  Email |Print

Asian and Middle Eastern sovereign wealth funds and large pension investors have been awarding a slurry of mandates to opportunistic credit managers. For example, in May, the £4.8 billion London Pensions Fund Authority hired Apollo Global Management for a £150 million allocation to target distressed debt, real estate debt, leveraged senior loans and private lending in developed markets.
hina Investment Corporation (CIC) recently moved forward on a deal to invest in WLR Cardinal Mezzanine Fund, a €350 million debt fund, co-managed by private equity firm WL Ross & Co. and Dublin-based Cardinal Capital Group. These public institutional investors have been trying to decrease any unnecessary long-term exposure to the European sovereign debt market………………………………………..Full Article: Source

Posted on 21 May 2015 by VRS |  Email |Print

The Future Fund, an Australian sovereign wealth investor, has selected independent insurance-linked securities (ILS) and reinsurance-linked investment manager Elementum Advisors as its first investment manager to be focused on alternative risk premia.
The Future Fund is a AUD$117 billion sovereign wealth fund, designed to support the Australian government’s financial position by providing for unfunded superannuation liabilities. The sovereign wealth fund has been investigating the ILS and reinsurance space, as a potential new asset class to add to its portfolio, for some time………………………………………..Full Article: Source

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