It’s a long weekend in the US of A, which means I won’t be back until Tuesday (at the earliest). In the meantime, here’s some stuff to read.
First, the news:
- Diversification: Peru plans to invest some of its $7 billion Fiscal Stabilization Fund abroad.
- Hiring: South Korea’s $360 billion National Pension Serviceis looking for a new CIO.
- Gold: “I’ve got 25 tons of gold in my vault”, is something I hope the person in charge of SOFAZ says at parties.
- oCIOs: Delta picked Wurts for its new oCIO program, which is a big win for ex-CIO of Alaska Permanent Fund Jeff Scott. Congrats.
- Outsourcing: Nigeria’s SWF has appointed Goldman Sachs, UBS and Credit Suisse to do stuff.
- Decennial Returns: AP2 returns roughly 103% per decade. Kudos.
- China’s Banks: You could set your watch by it: CIC’s quarterly capital injection into China’s big 4 banks.
- Real Estate: Malaysia’s KWAP is doing some more direct real estate investing in developed economies.
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Second, here’s some interesting research:- Transparency: Long-time friend of the show, Adam Dixon, has a nice article looking at the polemical topic of transparency as it pertains to SWFs. Good stuff.
- SDFs: Three academics in the Netherlands lay out the case for a “National Investment Vehicle” that can mobilize institutional investment funds for socially desirable domestic investments.
Have a great long weekend!
