The $US 16 billion New Zealand Superannuation Fund, which regularly ranks at the top of various sovereign wealth fund governance charts, has sold its small holdings in three Israeli companies for ethical reasons after a review of its passive international portfolio. Two companies, Africa Israel and Shikun & Binui, had been involved in building Israeli…
An academic study of sovereign wealth funds shows that they behave differently from other institutional investors when investing in private equity. The study, by Sofia Johan of York University in Canada, April Knill of Florida State University in the US, and Nathan Mauck of the University of Missouri in the US, examined the investments of…
After a walk down memory lane, Patrick Liddy* meets the new boss of NAB Asset Servicing and is suitably impressed. Â Level 34, 500 Bourke Street, Melbourne, is a floor coated in art and NAB history. Walking through it you get the feeling that the less powerful are compelled to whisper. I certainly did (whisper that…
Big investors will increase their allocations to hedge funds next year – especially equity-orientated funds – and will be looking for small and new managers to take most of their money, according to a survey by US brokerage Concept Capital Markets. The survey, of 108 pension funds, endowments, funds of funds and family offices in…
The globalisation of Asian companies through M&A activity is tipped to rise, presenting opportunities and challenges for western companies and investors, according to a special report by Towers Watson. The report, ‘Asian Trailblazers’, shows that the number of Asian companies in the Global Fortune 500 universe has jumped from 122 (24 per cent) in 2006…
Institutional investors are still concerned about liquidity within their portfolios and are adopting new approaches to modify their asset allocation, according to a paper by State Street. The paper, part of the firm’s Vision Series of thought leadership reports, says the continued volatility of markets has led to the identification of weaknesses in investment portfolios….
Applications for the annual CIO and COO awards for fiduciary investors in Australia, such as super funds and multi-managers, are now open, it was announced last week by La Trobe Financial. The awards recognise the achievements of key executives managing retirement savings and aim to encourage them to further their education in the pursuit of…
If China opens up its financial system at the rate at least one big bank expects there will be extra pressure on regional neighbours to fast-track their proposed integration and liberalization plans or be left behind. The 10 member nations of ASEAN, which was formed in 1967, have been making some progress towards a type…
The new leaders of China are expected to “dismantle” the country’s multifarious capital controls, according to a research report from HSBC, called ‘China’s Big Bang’. The report, overseen by Qu Hongbin, HSBC’s chief economist for Greater China, focuses on a series of steps intended to remodel the financial landscape. The key forecasts are: liberalized interest…
Distressed securities look like providing the best return, both in absolute and risk-adjusted terms, again this calendar year of the 12 categories of hedge fund investment styles measured by the EDHEC – Risk Institute. According to the research organization’s figures for periods ending October 31, the distressed securities category is a clear leader with 10.0…
