Markets are closed tomorrow, which means Avenue of Giants will be off for a long weekend. For those of you looking for some reading, here’s some news and research.
First, here are today’s top news items:
- Emerging Markets: NJ Division of Investments is putting $1 billion into active emerging market equity strategies.
- The Law I: Wyoming's CIO plead guilty to three counts of securities fraud (from his time before arriving at the pension).
- The Law II: ADIA refuses to lose in $4 billion fight with Citi; respect the perseverance.
- Mysterious: An un-named sovereign fund has agreed to provide a $100 million loan to finance agriculture development in East Africa.
- Deep Thoughts: Cleantech VC is "...about to go on a walk in the woods, where innovators will blaze a new trail."
- Frontier Finance: The Uzbek-Oman Investment Fund is now a thing.
- France: The Fonds de Réserve pour les Retraites (FRR) now has €36.6 billion.
- Deal Flow: OTPP just bought some pretty serious telecom assets in Australia.
Second, here are a few interesting papers:
- The European Commission has gotten into the "long-term investing" mix with a new green paper that looks quite interesting. Looks interesting.
- Ethan Watters has what looks to be a very interesting article entitled, “We Aren’t the World” in which he looks at academics challenging “the foundations of psychology and economics—and hoping to change the way social scientists think about human behavior and culture.” Cool.
- And, finally, for an Indian perspective on the value of sovereign funds, read this article by K. Babuji in The Journal of Indian Institute of Banking & Finance entitled “Central Bank Reserve Management and Sovereign Wealth Funds” (on page 46).
Enjoy your weekend!