Fund of the Month (Jun'23): Mauritius Investment Corporation (MIC)

1st June, 2023

If we talk about emerging SWFs with a specific focus, we need to talk about MIC, which was established in June 2020 to support and accelerate the economic development of Mauritius, grow national wealth, and build the country’s long-term economic resilience. We had the great pleasure of speaking with CEO Jitendra Bissessur about the fund’s origins and plans.

AIMCo poaches Kevin Bong of GIC to Lead its Singapore Office

31st May, 2023

On Tuesday evening, AIMCo announced its first hire in Singapore – and to the surprise of many, it came from the global leadership group of GIC, the flagship Sovereign Wealth Fund of the island-nation.

Dutch Funds Help Diversify Australian Student Accommodation Platform into Multi-Family Venture

30th May, 2023

The Netherlands’ public pension fund managers APG and Bouwinvest have swung their weight behind an Australian build-to-rent (BTR) partnership with student accommodation leader Scape Australia founders, Stephen Gaitanos and Craig Carracher.

Fast-Tracked Philippines Sovereign Wealth Fund Faces Opposition

26th May, 2023

The fast-tracking of a controversial measure for the creation of a Philippine sovereign wealth fund faces stiff opposition from critics who questioned where the fund’s seed capital will come from. 

Saudi Arabia's Sovereign Fund Helps Assert Soft Power in Iraq

25th May, 2023

Iraq is the latest target for Saudi Arabia’s sovereign wealth fund as it seeks to spread its investments – and soft power – over the Middle East through bilateral investment vehicles.

CPP Makes Modest Return As Infra and Private Equity Heads Move On

24th May, 2023

Canada’s biggest public pension fund, CPP Investments, has chalked up a net return of 1.3% for the fiscal year to end-March with assets increasing by 5.8% to C$570 billion (US$422 billion).

Qatar regroups and reshapes its strategy

23rd May, 2023

On May 16, the Government of Qatar issued a rare Amiri decree to reorganize its SWF, allowing the Qatar Investment Authority (QIA) take a more active role in the development of the local market and in the attraction of foreign direct investment. A day later, the fund announced the establishment of a US$ 275 million market-making program at the Qatar Stock Exchange (QSE), which is solely owned by the QIA.

A Snapshot of Mubadala's Performance

22nd May, 2023

Abu Dhabi’s Mubadala reported a 2.9% drop in assets under management to AED1,015 billion (US$276 billion) in 2022, the largest contraction since 2014, but its -3.1% single-year return outstripped the benchmark and industry average (-8.1%)

GIC Pumps More Capital Into Its Indian Real Estate Portfolio

19th May, 2023

Indian real estate is a hot target for Singapore’s sovereign wealth fund GIC, which this week signed a US$1.4 billion 50:50 joint venture with Brookfield India REIT (BIRET) to two large commercial office assets in Mumbai and Gurugram – hailed by the fund as “the first-of-its-kind partnership In India between a listed REIT and a global institutional investor.”

Jury is Still Out on UK Future Fund Success, While a British SWF Remains Elusive

18th May, 2023

Britain’s “Future Fund”, overseen by the state-owned British Business Bank (BBB), is completing its third year of operations this week having delivered GBP1.14 billion of investment in startups during the pandemic – yet performance is mixed, criticism is fierce, and the possibility of a fully-fledged UK sovereign wealth fund remains dim.

Saudi Arabia's Public Pension Fund GOSI Breaks Into Global Top 10

17th May, 2023

Hassana, the manager of Saudi Arabia’s General Organization of Social Insurance (GOSI), has revealed that its total portfolio is worth an incredible US$320 billion, following a two-year process of absorbing Raidah which managed the Public Pension Agency (PPA).

PIF Reverses Public Equity Losses in Q1, But Lucid Remains a Drag

16th May, 2023

Saudi Arabia’s US$730 billion sovereign wealth fund, the Public Investment Fund (PIF), threw its weight behind green energy, gaming and the internet in the first quarter, while slashing exposure to payments processor Visa and Chinese e-commerce company Pinduoduo.

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