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Equities - Temasek Under-Performs; PIF Suffers Lucid Losses

16th May, 2022

Filings by Saudi Arabia’s Public Investment Fund (PIF) and Singapore’s state-owned holding company Temasek show they were hit by the shock to markets in the first quarter as the Russian intervention in Ukraine sent the global economy reeling.

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Sovereign Backers of Vision Fund Hit by Son’s Strategic Failure

13th May, 2022

Sovereign wealth funds of Saudi Arabia and Abu Dhabi are among the main losers of Masayoshi Son’s Vision Fund gambles on tech venture capital.

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Namibia Launches Commodity-Backed Fund

12th May, 2022

Africa saw the launch of its latest sovereign wealth fund in the form of Nambia’s more conventional commodity-backed Welwitschia Fund.

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Mubadala Income Surges With IPOs and Robust Returns

11th May, 2022

Mubadala’s 70% surge in income to AED122 billion (US$33 billion) in 2021 validates Global SWF’s recent 2021 Fund of the Year award which acknowledged its rapid development as one of the Middle East's biggest and fastest growing funds.

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Sovereign Capital Cements Kuwait-Pakistan Relations

10th May, 2022

India has tended to steal the show when it comes to state-owned investors, but a subsidiary of the Kuwait Investment Authority (KIA) has turned its attention to neighbouring Pakistan in a US$750 million agreement to drive its economic development, with renewables at the heart of its strategy.

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OMERS Leaves a Towering Impression on Australian Digital Infrastructure

9th May, 2022

Canada’s second largest public pension fund, OMERS, is acquiring a major Australian portfolio of mobile towers from TPG in a deal worth A$950 million (US$660 million), marking its first foray into the Asia-Pacific digital infrastructure sector.

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Ethiopia’s Nascent SWF Seeks Strategic Alliances with Djibouti

6th May, 2022

Ethiopia has deployed its nascent sovereign wealth fund Ethiopia Investment Holdings (EIH) to broker a deal with neighboring Djibouti to ensure the East African country’s energy security.

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Qatar's SWF Supports Elon Musk's Twitter Take-Over

5th May, 2022

Elon Musk’s takeover of Twitter has won the support of the US$445 billion Qatar Investment Authority (QIA), which has contributed US$375 million to his buyout.

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ADIA Boosts Its Global Real Estate Investment With Joint Venture Platforms

4th May, 2022

Abu Dhabi Investment Authority’s US$2 billion joint venture deal with Boston-based real estate investment manager Rockpoint has pushed its total allocations to such real estate platforms to more than US$10 billion, according to Global SWF research.

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Big Blow for CDPQ as Quebec Shelves Metro Plans

3rd May, 2022

Montreal’s mayor has left Québec province’s US$329 billion public pension fund in the lurch by shelving plans to develop a high-frequency light rail line in the provincial capital’s east end.

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The Elephant in the Room - are Sovereign Investors beating the markets?

2nd May, 2022

Comparing returns across State-Owned Investors is never easy and it always takes a lot of assumptions and disclaimers. Yet, most funds have now reported their FY21 results, and we have looked at the average investment returns for the past six years (which we consider a fair investment cycle) across 20 major SWFs and 20 major PPFs in an apples-to-apples analysis.

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Fund of the Month (May'22): Victorian Funds Management Corporation (VFMC)

1st May, 2022

For the year ended 30 June, 2021, the Victorian Funds Management Corporation (VFMC) reported a one-year-return of 16.9% and ten-year annualized return of 9.4%. The state investor manages AUD $74.5 billion (US$ 56 billion) on behalf of 31 public authorities of the state of Victoria. Seven months ago, CEO Lisa Gray retired and passed the baton to Kate Galvin, an executive with extensive asset management, banking, wealth management, markets, and legal expertise that would enable VFMC to continue with its evolution and delivery of market leading long-term returns. We had the pleasure of chatting with Ms. Galvin about her vision for the future of the organization.

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