The Daily Brief

Ashby Monk

  • Kuwait Investment Authority’s Bader Al Saad in the FT:

“We have become hostage to the irresponsible behaviour of politicians. We thought the US would meet its responsibilities as the sole reserve currency of the world. Instead, we found out the objective was to get re-elected.”

  • OMERS is launching a new venture capital portfolio that will extend the time horizon of typical VC investments.
  • Nigeria’s Federal Government is working hard to end a stalemate with State Governors over the country’s new legal SWF. (Just add water.)
  • APF’s investment consultant: “The only bad thing about fiscal 2011 is that it is over.” True. Being down 15% in fiscal 2012 isn’t fun.
  • As of Oct 1, Russia’s National Wealth Fund has $88 billion in AUM and the Reserve Fund has $26 billion. Note: The latter was once worth $181 billion!
  • Aabar’s parent company, IPIC, has secured a loan from ADCB to finance an acquisition by Aabar of ADCB’s own assets. Confused? Yeah, me too.
  • The Qatar Investment Authority will invest $1 billion in European Goldfields. Interestingly, most of this money ($600 million) will end up in Greece.
  • FYI: The smaller or younger a hedge fund, the better it performs.

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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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