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‘Real Momentum: Global Public Investors and the Real Assets Market’ is based on a survey of Global Public Investors (GPIs) representing over $4.6tn in assets under management. The findings reveal investors’ growing appetite for infrastructure and real estate, coinciding with the growing need for investment in such projects around the globe.
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The global economic recovery and upturn in equity markets boosted central bank, sovereign fund and public pension fund assets by $2.5tn in 2017 according to Global Public Investor. The $2.5tn surge, representing a 7.3% rise from 2016 to $36tn, is the largest such increase in the five years since OMFIF began tracking the assets under management of the 750 institutions covered in GPI 2018.
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For the first time, OMFIF is offering a comprehensive interactive online databank available as a practical resource for the reserves management and research departments of all global public investors, and their counterparts in the asset management and banking community. Users can filter five years of data by individual GPI, type of institution and region to chart changes in assets under management.
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June marks the anniversary of Donald Trump's decision to withdraw the US from the 2015 Paris climate agreement. Perhaps paradoxically, the US retreat has provided impetus for others to advance the climate change agenda. Emmanuel Macron has stood out among world leaders in this respect since being elected to the French presidency a year ago. His answer to Trump's 'make America great again' motto is to 'make our planet great again'.
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The OMFIF Bulletin monthly review provides readers with a recap of the Meetings that took place over the past month and provides a sample of the forthcoming meetings in the next six months. The May Bulletin review covers meetings in Bucharest, London, Manila and Poland. To learn more about OMFIF Meetings and Membership, please email enquiries@omfif.org
Read moreAngela Merkel's weakness in Berlin is an unpleasant distraction as euro area countries prepare to announce measures to reinforce economic and monetary union. Squabbling in Merkel's fractious coalition could damage euro confidence and widen spreads between Italian and German bonds, writes David Marsh.
In 2008, both the Fed and ECB were caught off guard by the Lehman Brothers bankruptcy that led to the worst global economic recession in the postwar period. Judging by their decisions on 14 June to tighten monetary policy, it seems both risk once again being caught out by impending crises, writes Desmond Lachman.
Oil prices have soared by about 70% since last June, to around $77 per barrel for Brent crude, and have affected sentiment towards emerging markets negatively. Seema Shah considers this increase to be the most significant tail risk to the global economy and, as a result, to the positive outlook for risk assets in 2018.
The long end of the US yield curve is at its flattest for more than a decade, risking distortions as rates rise. If the Fed twisted the curve, it would help ensure a balanced tightening of monetary policy. However, even mentioning such a strategy could cause a violent reaction in long-dated rates, writes John Roe.
The Bank of England's financial policy committee, with a mandate that encompasses tools for guiding both borrowing and lending behaviour, could lead the way internationally in establishing the 'prototype financial stability committee', said Anil Kashyap, FPC member, in an OMFIF City Lecture in London.
The growing complexity of the macroeconomic landscape has amplified the danger of volatile capital flows in Asean. It is important for the bloc to deepen regional financial co-operation and bolster the Chiang Mai Initiative Multilateralisation, its multicurrency swap arrangement, writes Junhong Chang.
Implementing a suitable framework to guide central banks' governance, apply scrutiny and monitor performance is essential for maintaining these institutions' legitimacy, according to Paul Tucker, former deputy governor of the Bank of England, in an OMFIF discussion in London on his book 'Unelected Power'.
The struggle for Germany's monetary soul is intensifying. France is trying to persuade the Germans to strengthen economic and monetary union as a means of standing up to Trump's trade bullying. Political pressures from Paris, Rome and Madrid, and Brexit, could leave Germany isolated, warns David Marsh.
Panel discussion on the future of the European Central Bank
Mon 18 Jun 2018
POLICY | London
Lecture with Ian McCafferty, Member of the Bank of England's Policy Committee
Tue 26 Jun 2018
JUNE | 10:30
Briefing with Javier Guzmán Calafell, deputy governor, Banco de México
Wed 27 Jun 2018
JUNE | London
A Global Public Investor symposium on growing the market for sustainable finance
Tue 17 Jul 2018
POLICY
Asia Launch of the fifth annual GPI
Tue 17 Jul 2018
JULY
Lecture with Charles Evans, president and CEO, Federal Reserve Bank of Chicago
Wed 3 Oct 2018
OCTOBER | London
The launch of the fifth annual 'Global Public Investor,' a publication devoted to public sector asset ownership and management around the world. Speakers included Louis de Montpellier of State Street Global Advisors, Joaquim Levy of the World Bank Group and Mario Marcel of the Banco Central do Chile
The world is experiencing one of the longest economic expansions since records began and there's no end in sight, with muted inflationary pressures keeping interest rates low. Stock markets like this not too hot, not too cold 'Goldilocks' backdrop.
Global infrastructure financing has fallen short of its potential.Private sector investment and institutional investor capital are often raised as possible solutions for filling the infrastructure funding gap.
Productivity and economic growth continue to disappoint in most countries. Although analysts show a great deal of concern for the so-called 'productivity puzzle', little attention is paid to the real solution: freer markets and increased competition.
Stock prices have been rising for more than eight years, but bull markets don't die of old age. There are few signs of the excessive growth, valuation or financial leverage that usually signal the approach of a bear market. With interest rates below inflation, it is unsurprising that money continues to flow into markets.
The poll for this month focuses on the future of bitcoin. Participants were asked: ‘Will the bitcoin market crash exponentially and if so, when?’
