Oil has drifted lower since the Iran war spike in March. Defence budgets and central bank gold purchases have not. The divergence is reshaping the emerging market investment case.
Middle East
Australian superannuation body ASFA signs G7's critical minerals projects agreement; Indonesian SWF Danantara expands mandate; explores sale of 30-year bonds; Philippines' SWF Maharlika's Q1 net income drops 75% YoY; and more.
ART commits $3bn to property; KWAP reappoints BNY as custodian; Income Insurance awards $8.6bn FX mandate to Russell Investments; and more.
Abu Dhabi SWF L’IMAD, ADNOC, Singapore’s Temasek and BlackRock’s Global Infrastructure Partners to launch a $30 billion infrastructure partnership; QIA commits $500m to General Atlantic’s global strategy; and more.
Malaysia’s state pension fund KWAP appoints CEO; Future Fund's executive director departs; Manulife Singapore takes COO from Chubb; and more.
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Abu Dhabi considers setting up new defence-focused investment vehicle; Taiwan’s Bureau of Labour Funds trims US exposure; Australian pension Brighter Super shifts away from domestic equities in favour of global AI stocks; and more.
China's CIC, Indonesia Investment Authority and Azerbaijan's SOFAZ launch $1bn private equity fund; Abu Dhabi consolidating China strategy by bringing together assets from Mubadala, L’Imad; and more.
Saudi Arabia’s Public Investment Fund is shifting from rapid expansion to sustained value creation. Domestic allocation will rise, but global partnerships are still central to its roadmap.
Uni Super appoints new board member; HESTA names new CEO; Abu Dhabi Investment Council hires principal; Jardine Matheson appoints investments MD; and more.
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Major oil companies are backsliding on their net zero and energy transition pledges, making it difficult for investors who think engagement is better than divestment.
Philippines' GSIS partners with JIC to improve valuations and risk assessments; Aware Super and TelstraSuper set to merge in next two months; NPS signs MOU with Allianz Global Investors; and more.
Abu Dhabi SWF Mubadala increases Bitcoin ETF holdings; UniSuper accused of greenwashing; and more.
