Sovereign Wealth
SF Fed: SWFs trump central banks on foreign investment returns
San Francisco Federal Reserve study shows central banks are more risk averse than sovereign wealth funds, producing lower average returns on investments in foreign assets
Oxford SWF Project cautions funds on aping other investors
Oxford SWF Project paper argues sovereign wealth funds’ tendency to copy strategy of other institutional investors misguided
Nigeria close to setting up sovereign wealth fund
President Goodluck Jonathan proposes legislation to national assembly that will pave the way for a sovereign wealth fund, say reports
Former BoA chief risk officer Curl joins Singapore's Temasek as president
Temasek has hired former BoA CRO Gregory Curl and promoted Simon Israel as co-presidents to work alongside existing president and former SGX chief executive, Hsieh Fu Hua
Lebanon sets in motion plans to create SWF
Lebanese energy bill paves way for creation of sovereign wealth fund; government aide says proceeds will be managed by the Ministry of Energy and Water
Norway’s wealth fund slumps to first loss in a year
Government Pension Fund–Global posts $25 billion loss for first quarter; fund’s equity portfolio takes a beating, led by BP shares
CIC arm to raise $28 billion through bond issuance: reports
Central Huijin Investment, part of China’s sovereign wealth fund, set to offer bonds to private investors; joins state investment companies in Singapore and the Middle East in tapping bond markets
Nomura snares RBS's Melph as global head of central bank and sovereign wealth sales
Central banks and sovereign wealth funds have become an increasingly important source of revenue for derivatives dealers.
CIC denies interest in UK football club: reports
Chinese sovereign wealth fund refutes suggestions that it is funding a bid to buy Liverpool Football Club
CIC’s profits soar by 81%
China Investment Corporation records gains of $41.6 billion
Natural gas discovery sparks debate in Lebanon over SWF
Potential discovery of natural gas off the shore of northern Israeli coast sparks debate among Lebanese government officials over whether to create a new sovereign wealth fund
Temasek Holdings’ portfolio hits record high
Singaporean sovereign wealth fund Temasek Holdings says portfolio has hit record of $135 billion; fund chief credits increased exposure to Asian emerging markets
MAS's Lim says integrated sovereign wealth funds beneficial for industry
Monetary Authority of Singapore deputy chairman Lim Hng Kiang says improved ties between sovereign wealth funds will improve best practice in the industry
UAE governor urges sovereign funds to repatriate
Governor of the Central Bank of the United Arab Emirates Nasser Al-Suwadi appeals to sovereign wealth funds in the region to reject pre-crisis strategy of investing in companies based in advanced economies and instead inject funds into the Gulf region
Richmond Fed on sovereign debt dilution
A Richmond Federal Reserve study shows having a sovereign debt default program in place reduces sovereign market risk
Norway’s wealth fund profits again
Norges Bank’s Government Pension Fund-Global returns just under 4% for first quarter of 2010, outperforming benchmark once again; fund will set up Singapore office to strengthen Southeast Asian presence
ADIA publishes first annual report
Abu Dhabi’s sovereign wealth fund reveals rates of return and geographical split of investments
Norway’s wealth fund smashes profit record
Norway’s Government Pension Fund–Global sees a 25.6% return on its investments for 2009, trumping the benchmark portfolio by more than four percentage points
China’s SWF to take control of its portfolios
China Investment Corporation will increase the proportion of investments that are managed in house, says its chairman Lou Jiwei
SWFs innocent of political bias
OECD looks at whether sovereign-wealth funds’ investments are politically motivated
Norway’s SWF looks to emerging markets
Government Pension Fund-Global, the Norges Bank-run oil fund, thrived in the crisis as a result of its equity-laden and highly diversified portfolio, says government investment chief
Kuwait SWF sells Citi stake for $1.1 bn profit
Kuwait Investment Authority announces sale of its Citigroup share; follows Singapore GIC’s sale of Citi stake in September
China Investment Corporation to invest in Apax: reports
China’s sovereign wealth fund reportedly set to inject in private equity group
Interview with Donghyun Park
Donghyun Park, a senior economist at the Asian Development Bank, discusses reserve management post-crisis and fostering demand in Asia