Analyzing Environmental Factors for Corporate Bonds

With less than 100 days until the Paris climate summit dubbed 21st United Nations Conference of the Parties (COP21), institutional investors are taking a gander of potential policy changes that could impact their portfolio and holdings. Corporate fixed income is a staple for a clear majority of public institutional investors. The incorporation of environmental factors [...]

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Japan’s Chikyoren Awards 11 Mandates

Japan’s Chikyoren, formally known as Pension Fund Association for Local Government Officials, awarded 11 active, global bond mandates to investment managers. The pension system has US$ 173 billion in assets and has around 11.4% allocated to international bonds. Institutional Investor Profile of Chikyoren See the Winners – Fixed Income Managers [ Content protected for Sovereign [...]

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Most Popular Overseas Office for Sovereign Funds

Despite the current gloom of equity markets and a “never-ending” low-yield environment, sovereign investors are continually seeking new markets to tap into. As sovereign wealth funds and large pensions grow in assets under management and expand geographic portfolio diversification, the need to open up an overseas office to source investments becomes real. Sovereign funds have [...]

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SWFI First Read, August 31, 2015

Oman’s SGRF Signs Cooperation Agreement with Oman Oil Company Oman’s State General Reserve Fund (SGRF) and state-owned Oman Oil Company have signed an agreement that will form a strategic cooperation partnership. The cooperation between SGRF and Oman Oil Company S.A.O.C will hone in on developing people skills within their organizations, backing small-to-medium businesses and knowledge [...]

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reinsurance sovereign wealth fund

Should U.S. Pensions Lower Their Discount Rates?

Increasingly, public defined benefit plans across the United States are lowering their discount rates. This trend accelerated after the global financial crises of 2008. Changes in the investment outlook toward a low-yield environment has forced pension funds to rethink what returns can they really achieve. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers [...]

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A Cautionary Tale in Cyprus

A paradise for European tourists, Cyprus has been a never-ending nightmare for depositors and bondholders of local financial institutions. For quite some time, before the island’s financial crisis, Cyprus has marketed itself as an offshore financial center, aka tax haven. Between 2004 and 2010, Cyprus banks grew to 9x gross domestic product, a trait similar [...]

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PARTNER CONTENT AND RESEARCH


Research and commentary from leading asset managers, organizations and service providers.

National Association of Investment Companies (NAIC)
Do Diverse Pension Plans Hire Diverse Investment Managers: The Answer May Surprise You

TOBAM
Make Diversification your Beta

National Association of Investment Companies (NAIC)
Outsized Performance is Met With Outsized Demand

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SWFI® RESEARCH, ARTICLES AND INDUSTRY NEWS

Seoul

Woori Bank Might Finally Have a Buyer in the Gulf

The South Korean government has been trying to sell its ownership stake in a financial institution that it bailed out. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Friday SWFI News Roundup, August 28, 2015

Can Risk Parity Hurt the Recovery? Many institutional investors, especially U.S. pensions, have adopted the concept of risk parity and have applied it to their portfolios. There are estimates that around US$ 500 billion in assets are allocated to risk parity strategies and about 40% of those assets are allocated toward listed equities. The recent [...]


Yngve Slyngstad

NO WORRIES: Norway’s Sovereign Wealth Fund is Long-Term

Media headlines have splashed about Norway’s sovereign wealth fund shrinking by more than 5% in one month. The fund owns 1.3% of all global equities – an astounding figure. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


RISK: China’s Selling Treasuries to Help Fund Yuan Stabilization

China is at serious risk of burning tens of billions of foreign reserves to keep the yuan stabilized. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Asian Sovereign Wealth Fund VC Roundup – August 27, 2015

Wealth Fund Backs Beats Competitor Shenzhen-based 1More Inc., an audio device company established by three former Foxconn executives, is looking to challenge Apple’s newly prized Beats Electronics LLC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


POWERS UNITE: TIAA-CREF, AP1 and AP2 Pool European RE Portfolios

The Swedish buffer funds AP1 and AP2, along with TIAA-CREF have pooled their European real estate portfolios together to form a €4 billion joint venture called Cityhold Office Partnership. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Everyone Wants a Robo-Advisor, Right?

Is the financial technology sector in a bubble? Are there too many terms like smart beta and robo-advisors? Apparently not, and the concept of robo-advisors is gaining traction as another way for asset managers and technology-centric service providers to channel their products through sleek graphical user interfaces (GUI). Strategies and consultancy firms profess a trend [...]


PGGM Part of Group That Buys Palamon PE Interests

Credit Suisse Private Funds Group has held an auction to sell stakes in two private equity funds managed by London-based Palamon Capital Partners, a pan-European private equity firm.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


SWFI – Movers and Shakers – August 26, 2015

D’Eramo Leaves State Street for Executive Role at RBC Investor & Treasury Services Don D’Eramo is taking a new job at RBC Investor & Treasury Services as managing director, head of distribution & product development, securities finance, for its treasury & market services activity. The role is based in Toronto and he will report to [...]


Norway’s Wealth Fund Eyes Major Singapore Office

Norway’s Government Pension Fund Global (GPFG) has set its eyes toward Southeast Asia, specifically Singapore where it has operations. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Norway’s Ministry of Finance Hires Advisors

Norway’s Ministry of Finance which sets policy and has influence over Norway’s sovereign wealth fund has appointed a number of advisors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]


Investors Lineup for Tesco’s Homeplus

Institutional investors are bidding for Tesco’s South Korean unit called Homeplus Co Ltd. It is Tesco’s biggest business outside of the United Kingdom, generating 7.05 trillion won (US$ 5.9 billion) in 2014. Tesco has hired HSBC to manage the sales process. Tesco is looking to sell the unit to improve its balance sheet, still reeling [...]


credit funds

3 Things Asset Managers Are Telling Sovereign Funds Now

1. Buy, Buy, Buy Short-term painful corrections are a natural force in U.S. equity markets. Sovereign wealth funds, popularly known for their long-term investment horizon, have played the role of white knights when markets sour. Asset managers are informing sovereign funds and pensions to be contrarian and jump in when panicked investors are getting out, [...]


Q&A with Jim Orlando, Managing Director of OMERS Ventures

This interview will appear in the 3Q Y2015 (October 2015) issue of the Sovereign Wealth Quarterly. This is a Q&A with Jim Orlando, Managing Director of OMERS Ventures 1. How would you differentiate the Canadian venture capital community with Silicon Valley? Silicon Valley is Silicon Valley. Every other ecosystem is going to be compared to [...]


Quebec Financial Institutions Participate in Manac Buyout

Caisse de dépôt et placement du Québec (CDPQ), the Fonds de solidarité FTQ, Investissement Québec and the Québec Manufacturing Fund L.P. announced on August 13, 2015, that together they are forming a consortium with Placements CMI to acquire Manac, the largest manufacturer of trailers in Canada. Placements CMI controlled by the family of Manac’s founder, [...]


TRUMP: Hedge Fund Guys Are Getting Away with Murder

Pensions, sovereign wealth funds, endowments and wealthy individuals are all major types of investors in hedge funds. Hedge funds and private equity funds pay capital gains tax versus the higher percentage amounts of an income tax. The top rate for capital gains is 20% versus the top rate on regular income of 39.6%. The argument [...]


Hedge Funds’ Annus Horribilis in Europe

Despite many European public pensions scaling back from hedge funds, there is a cadre of hedge fund believers out there. There is a stack of academic literature disproving the usefulness of hedge funds such as one written by Mikhail Tupitsyn and Paul Lajbcygier of Australia’s Monash University, stating that most hedge funds are actually passive [...]


Sovereign Funds Had Increased Ownership in Japanese Equities

Sovereign wealth funds have increased holdings in Japanese listed equities. For example, Suntory Holdings Co., Ltd., the private holding company that spun off Suntory Beverage & Food Ltd. in 2013, has gained a number of sovereign wealth fund investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. [...]


Are Sovereign Funds Ready for Another Market Shock?

Sovereign wealth funds such as Singapore’s GIC Private Limited, Australia’s Future Fund and the New Zealand Superannuation Fund carefully issued warnings to the media and stakeholders about expecting lower investment returns in the coming years. Will their expectations come to fruition? The first shock, the rapid drop and prolonged period of low oil prices, applied [...]


JP morgan

Goldman, JPMorgan and Morgan Stanley Unite to Form Ref Data Company

The Wall Street Journal broke news that U.S. financial giants Goldman Sachs, JPMorgan Chase and Morgan Stanley are forming a company to pull together and collect troves of data to determine pricing and transaction costs. They are calling the initiative “SPReD” – standing for Securities Product Reference Data. The newly-formed entity will first focus on [...]


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