Weekly Digest: GIC adds to Japan logistics portfolio; Maharlika eyes energy, infra assets
TOP NEWS OF THE WEEK
GIC acquired a logistics facility in Yokohama city, part of the Greater Tokyo metropolitan area in Japan.
The facility was developed by local real estate developer Daiwa House Industry in 2022 and fully occupied. The four-floor property spans an area of more than 126,000 square metres, making it one of Daiwa House’s largest assets built to date.
This transaction follows GIC’s 2023 acquisition of several other logistics facilities developed by Daiwa House across Japan.
Source: GIC
The Maharlika Investment Corporation expects to make its first investment within the next three months, according to Rafael Consing, president and chief executive officer of the sovereign wealth fund.
He said Maharlika is now conducting due diligence on two “very important investments”, and has signed eight agreements this year to explore possible investment opportunities in the infrastructure and energy sectors, which the fund is now reviewing.
“Intuitively, we expect that in the next 60 to 90 days, we should be able to deploy our first investment,” Consing said at a Senate hearing on August 27.
Source: Rappler
OTHER INVESTMENT NEWS
AUSTRALIA
Betashares has completed its acquisition of Bendigo Superannuation for an undisclosed amount. The deal, finalised on September 1, brings A$1.4 billion ($950 million) in super assets and 19,000 members under Betashares' management.
Bendigo Superannuation was previously the trustee and issuer of Bendigo SmartStart Super and Pension products. TAL will continue as the insurance partner.
The acquisition aligns with Betashares' expansion plans, supported by Temasek Holdings' recent A$300 million investment. Wes Hatch, formerly of Vanguard, joins as director of superannuation and retirement.
Source: Betashares
HONG KONG
Hong Kong’s Mandatory Provident Fund has earned HK$73.5 billion ($9.43 billion) on its investments year-to-date, or 6.61%, driven by gains in almost all asset classes, according to MPF Ratings estimates.
The MPF’s investment return as of August 19 was sharply up from HK$11.2 billion in the same period last year. It could place MPF's total assets to a record HK$$1.248 trillion by end-August.
Source: MPF Ratings
MACAU
Macau’s Social Security Fund (SSF) investments recorded an annual investment return of 8.82% in 2023 after a 7.37% loss in 2022 amid market rallies.
The SSF’s global investment portfolio earned 5.4 billion patacas ($672 million), bouncing back from 7.69 billion patacas of losses in 2022, according to its annual report published on August 26.
Source: Asia Asset Management; Macau SAR Government
JAPAN
Dai-ichi Life Insurance invested ¥5 billion yen ($34 million) into a microfinance fund launched by the Japan unit of UK asset manager Schroders and managed by Switzerland’s BlueOrchard.
The Schroders BlueOrchard Microfinance Fund invests in institutions that provide microfinancing to low income people in emerging markets.
According to the Dai-ichi Life, the fund will financially support efforts by Schroders and BlueOrchard to promote financial inclusion of low income people.
Source: Dai-ichi Life
KOREA
The National Pension Service (NPS) posted a 9.71% investment return for the first half of this year as of August 31, according to its preliminary report on August 30.
Overseas equities performed the best in the first six months with a return of 20.47%, followed by domestic equities (8.61%), overseas fixed income (7.95%), alternative investments (7.79%) and domestic fixed income (1.66%).
As of the first half, the fund's assets stood at W1,147 trillion ($858.7 billion).
Source: NPS
Korea Post has launched a mandate for a W100 billion ($75 million) domestic growth and buyout blind fund mandate for its insurance unit.
The fund will have a five-year investment period and a ten-year maturity. Korea Post will hire two to three asset managers for the mandate.
Asset management firms bidding on the tender must be experienced in managing a minimum of two blind funds with assets totalling at least W500 billion.
Source: Korea Post
The above briefs were curated from company news releases and third-party sources.