The Daily Brief

Ashby Monk

Today’s top news items:

  • East Timor’s Oil Fund receives permission for a more agressive investment strategy from Parliament.
  • Greens say NZSF found investing in cluster bombs. The NZSF responds.
  • SOFAZ has suspended its work on a new strategy until the world financial markets stabilize. Could be a long wait.
  • Nice interview with Leo de Bever, CEO and CIO of $71bil Alberta Investment Management Corporation.
  • Indian official on new SWF: “The basic objective of the fund is to use it as a war chest to fund [energy] buys abroad.”
  • New Mexico’s State Investment Council is finally writing a “code of conduct” to guide employees’ behavior. It really is about time.
  • Larry Catá Backer breaks down Norway’s most recent portfolio exclusion.
  • Nigeria: “Analysts condemn governors over Sovereign Wealth Fund”. I guess we kinda did.
  • Unfreezing Libyan Assets 101.

The week’s top stories:

  • Temasek is putting $150 million or so into natural gas infrastructure in North America.
  • In Norway, Pål Haugerud is the new Martin Skancke.
  • Thailand’s debate over establishing a new SWF is looking more serious. There are some big, new supporters…as well as detractors.  Watch this space.
  • The China Africa Development Fund set up a JV with Chinese auto maker Chery to further develop African car market.
  • Iran’s National Development Fund will receive an additional $10 billion in AUM (now up to $30 billion).
  • CalPERS is taking on ESG in a big way.
  • Japan’s enormous GPIF ($1.5 trillion) is assessing over 50 asset managers for its new emerging markets mandate.
  • China Investment Corporation looks to be building a substantial position in global shipping.
  • ADIA re-organizes divisions away from geographies towards financial products.

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About

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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