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ADIA scores modest gains in 2024, looks at China and India for growth

18th September, 2025

On Wednesday, ADIA released its results for the year ended on December 31, 2024 – surprisingly early when compared to the timeline of the past few years. Below is our usual reading between the lines, for our subscribers:

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NZ Super’s FY25: Solid gains, sober tone - and a clearer steer on where it’s heading

10th September, 2025

The New Zealand Superannuation Fund (NZ Super) ended the year to 30 June 2025 with an 11.84% pre-tax return after costs, lifting assets to NZ$85.1 billion (US$50.5 billion) and adding NZ$8.4 billion (US$5.0 billion) over the year.

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NPS mid-2025: Solid Returns, Currency Volatility, and a Strategic Tilt

9th September, 2025

South Korea’s National Pension Service (NPS) posted a +4.08% money-weighted return in the first half of 2025, generating KRW 49.8 trillion (US$36.9 billion) of investment income.

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PIF: Scale, Speed, and the Growing Pains of a US$1 Trillion Vision

14th August, 2025

Saudi Arabia’s Public Investment Fund (PIF) reported another year of stellar growth in its 2024 annual report with some strong headline numbers: AUM surged 19% to US$913 billion, cumulative domestic investments since 2021 topped US$171 billion, and PIF now represents around 10% of the Kingdom’s non-oil GDP.

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OTPP Strategy: Building Dry Powder Through Capital Recycling and Raising Liquidity

12th August, 2025

The Ontario Teachers’ Pension Plan (OTPP) just posted its mid-year results for 2025 at a time of great change, both for the fund and its operational environment.

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CalPERS reaches historical peak, over a third of portfolio in private markets

15th July, 2025

On Monday, California pension fund CalPERS, which manages pension and health benefits for more than 2 million public employees, retirees, and their families, reported the results for the fiscal year ending on June 30, 2025.

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Temasek FY2025: Weathering the Storm, Catching the Wind

9th July, 2025

Temasek has sailed to new heights in FY2025, not by hugging the US tech coastline, but by deftly trimming its sails and steering for resilience and future growth.

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Norway’s SWF Faces the Facts on Active Management: Real Assets in the Spotlight

3rd July, 2025

Norway’s Ministry of Finance has launched a fresh independent review into the active management of the world’s largest sovereign wealth fund, the US$1.94 trillion (valuation this week) Government Pension Fund Global (GPFG).

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PIF’s 2024 Results Mark a Strategic Shift in Saudi Grand Experiment

2nd July, 2025

Saudi Arabia’s Public Investment Fund (PIF) just dropped its 2024 numbers - and on the surface, they look stellar with assets up 18% to SAR4.32 trillion (US$1.15 trillion).

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Resilience Over Hype: How BCI Secured Strong Returns Amid Volatile Markets

26th June, 2025

The British Columbia Investment Management Corporation (BCI) is celebrating its 25th anniversary in style: a robust 10% return for its largest pension clients in fiscal 2025, C$21.9 billion in net investment income, and cumulative added value of C$9.3 billion since inception.

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Disciplined, Bold, Omani: OIA’s Billion-Rial Profit Story

23rd June, 2025

OIA posted a knockout profit of OMR1.6 billion (US$4.2 billion) and boosted its total assets above OMR20 billion (US$52 billion) in 2024, but behind the impressive figures OIA is quietly pursuing a bold new strategy: think locally, deal globally, and make every rial count for Oman’s future.

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CPP’s Big Year, Bigger Questions: Growth, Gaps, and a Global Pivot

22nd May, 2025

CPP Investments just reported one of the highest net income totals in its history - a robust net income of C$59.8 billion (US$43.3 billion), with net assets swelling to C$714.4 billion (US$516.9 billion).

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