The Daily Brief

Ashby Monk

Today’s top news:

  • Sorry. This California Ballot Initiative is an awful idea. Calpers would be forced to invest 85% of its assets in CA ⇨ Dramatically lower returns due to reduced opportunity set ⇨ Assets don’t meet promised liabilities ⇨ Enormous taxpayer funded bailout ⇨ What was the point of forcing CalPERS to invest in California again?
  • Infrastructure fund managers ‘won’t back down‘ over fees.
  • SWFs hiring service providers in foreign countries…or are they buying local influence.
  • OMERS real estate sub Oxford Properties buys another big parcel in Toronto.
  • US Treasury freezing Syrian assets. What does this mean for Syrian-Qatari Holding Co. and the Kuwait Syrian Holding Co.?
  • Solid PBS Newshour piece on CalPERS from yesterday.

And here are your top stories from the week:

  • Temasek subsidiary Cedar Holdings sold its 8% stake in Thai Shin Corp.
  • Oz Future Fund has finally managed to reduce its shares of Telstra to a reasonable size.
  • Why is Venezuela moving $6 billion in reserves to Russia and China and talking about the ‘Libyan Experience’? Bad omen.
  • Thailand’s Finance Minister Thirachai says he is exploring possibility of setting up new SWF for reserves investment.
  • Mubadala-GE Capital has done 100 deals and suffered no defaults. Doing well.
  • China’s SAFE has purchased a 3% stake of Munich Re for €470m.
  • Qatar Investment Authority (via Qatari Diar) buys London Olympic’s Athlete Village for $906 milllion in JV with Delancey.

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This website is a project of Professor Gordon L. Clark and Dr. Ashby Monk of the School of Geography and the Environment at the University of Oxford. Their research on sovereign wealth funds is funded by the Leverhulme Trust and The Rotman International Centre for Pension Management.

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