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Weekend Reading

I've got a ton of news stories and an interesting paper on the Australian Future Fund for your weekend reading. Be well!

Today’s news:

  • New Mexico's state wealth funds were up to nearly $37 billion as of March.
  • China's NSSF tops $136 Billion.
  • $20 Trillion worth of Institutional Investors say 'fracking' is an environmental concern.
  • Real Estate keeps APFC afloat in a rough year.
  • Aabar's losses on Daimler and UniCredit were big. Real big. (Though it does sound as though it may have been partially hedged.)
  • The OECD says that Canada may need / want a new national sovereign fund to prevent Dutch Disease.
  • CalSTRS endorses online participation in shareholder meetings. This seems sensible. Do it. 
  • Temasek appears to be staffing up in India.
  • The world of public pensions: "Compensation accounts for about 2 percent of PRIM’s $313 million budget." Ummm. Sorry but that's just downright nutty. Apropos.

And here's this weekend’s research paper:

Check out this new paper by Richard Eccleston entitled “Australia's Future Fund: a future beyond the GFC.” Here’s a blurb:

“Australia's Future Fund (FF) was created in 2006 as a long-term savings fund designed to meet the Australian Government's future public service pension liabilities. With the onset of the financial crisis, few commentators thought the Australian Government would have the capacity or interest to continue investing in the FF. However, in the context of Australia's rapid, commodity-driven recovery from the crisis there is a growing case that the FF should play a central role in a new fiscal policy framework designed to manage the risks associated with the current resources boom. The paper explores these arguments and the politics associated with implementing such a framework and in so doing highlights the political constraints associated with implementing SWFs in advanced democracies.”

Have a nice weekend!

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