Here now, the news:
- Harvard is creating an alternative endowment for alumni that want their donated money invested according to social criteria.
- Mozambique has plans to create a new sovereign wealth fund.
- China has scrapped its QFII restrictions for sovereign funds and central banks of foreign countries.
- That NYCTRS is committing $1 billion to the Sandy Reconstruction effort is nice... But is it within the pension fund's mandate? I'm not so sure...
- European pensions are cutting their illiquid exposure just as, it seems to me, North American funds are ramping them up.
- The portfolio companies of Kazakhstan's Samruk-Kazyna are expanding rapidly.
- The OECD has called on Australia to launch a new stabilization fund to smooth mining revenues and avoid Dutch Disease:
And then heres some interesting research:
- Heres a paper wherein I (with some co-authors) try to develop a creative financing vehicle ("iCoop) to help investors access infrastructure opportunities on an aligned basis.
- Heres a new paper that examines the firm-level implications of equity purchases by the state. It's worth a gander.
- Heres an interesting paper examining the governance challenges associated with sustainable investment policies among institutional investors.
Have a nice weekend!