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Fund of the Month (Feb'24): Maharlika Investment Fund (MIF)

1st February, 2024

The maharlika (freedman) were feudal warriors in Luzon, the Philippines, and the term comes from Sanskrit, meaning man of wealth, knowledge, or ability. And this is exactly what Maharlika Investment Fund, the country’s new SWF, intends to do by managing intergenerational financial assets and advancing long-term development goals. We had the pleasure of speaking to its newly appointed CEO, Rafael Consing, about the fund’s background and prospects.

CDPQ Leads State-Owned Investors in Aircraft Leasing and Finance

31st January, 2024

Canadian public pension fund CDPQ’s US$1.5 billion aircraft leasing partnership with SMBC Aviation Capital, announced this week, is the latest in a line of similar investments in aircraft lessors by state-owned investors, seeking to provide fleets to operators instead of the more complex business of running an airline.

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Global SWF “Fund of the Year” NBIM Scores Biggest Ever Return

30th January, 2024

Norway’s Government Pension Fund Global (GPFG) has notched up its biggest ever return following a surge in it equity investments, offset only marginally by a negative return in real estate.

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Change at the Top of Future Fund, As Strategy Evolves

29th January, 2024

Australia’s Future Fund has hired a new chair to take over from the long-standing leadership of Peter Costello, with the Labor government choosing a politician – Greg Combet – from their own ranks, whose career has focused heavily on combating climate change.

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AIMCo’s Home Province Pipeline Interest Chafes With Net Zero Ambitions

26th January, 2024

Alberta state-owned investor AIMCo is set to go against the grain on the sustainability agenda with its rumored desire to invest in the Trans Mountain oil pipeline.

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Ending the Silos: CDPQ Follows OTPP in Integrating Real Estate Subsidiaries

25th January, 2024

CDPQ has made the surprise move of integrating its real estate subsidiaries Ivanhoé Cambridge and Otéra Capital as it rearranges its real estate portfolio and brings it firmly under the ambit of the management, resulting in the departure of Ivanhoé Cambridge’s CEO Natalie Palladitcheff when the consolidation is completed in 18-24 months.

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PIF Positions Saudi Arabia as Global Football and Motorsports Hub

24th January, 2024

The Public Investment Fund’s (PIF) insatiable appetite for sport, leisure and entertainment has not abated in the first few weeks of 2024, with the Saudi sovereign wealth fund developing partnerships in electric motorsport and reportedly making a move on top Italian football team AC Milan.

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APG is the Latest to Leave Beijing

23rd January, 2024

The Netherlands’ civil service pension fund manager APG has shut down its Beijing office due to a lack of interest among its clients, following the decision four months ago by the world’s biggest sovereign wealth fund, Norges Bank (NBIM) to end operations in Shanghai.

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Kazakhstan's SWF Launches Two Airline Divestments

22nd January, 2024

Three years ago, sovereign wealth funds were plunging capital into national flag-carriers in the wake of the global lockdown, but the aviation sector is off life support and airlines have largely returned to profitability – with Kazakhstan’s Samruk-Kazyna confident to launch Air Astana Group’s IPO next month as well as relaunching its tender for up to 100% of Qazaq Air.

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Signs Of Robust 2023 Returns For Sovereign Investors, But 2024 Will Be A Rocky Ride

18th January, 2024

Little over two weeks since the end of 2023 and the first annual returns results are trickling in from state-owned investors, with signs that it was a better year for the sector – however, geopolitical instability is expected to generate market turmoil that could reverse gains in 2024, particularly for highly liquid funds.

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NBIM Makes Fourth Renewables Buy, Turning to Spain Again

17th January, 2024

Norway’s US$1.5 trillion sovereign wealth fund is adding  fourth asset to its unlisted renewable energy portfolio with the acquisition of a 49% stake in onshore solar and wind farms in Spain and Portugal for EUR307 million (US$334 million).

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Red Sea Conflict Risk to PIF Investments

16th January, 2024

The Red Sea region is at significant risk of conflict escalation amid Houthi attacks on ships and retaliation by the US, UK and their partners in Operation Prosperity Guardian to protect global supply chains - and this puts Gulf sovereign wealth funds' investments in the region at increasing risk as conflict escalates.

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