By Tom Arnold
LONDON, July 1 (Reuters) – The Australian Future Fund has for the second year in a row topped the sovereign investor rankings for sustainability, governance and crisis-resilience, while funds in the Middle East have were the least efficient.
Norges Bank Investment Management, NZ Super Fund and Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) were the next best performers in the platform’s governance, resilience and sustainability scorecard. Global SWF data.
In contrast, funds in the Middle East have lagged behind and underperformed in areas such as governance and resilience.
Three of the big Middle Eastern funds, Abu Dhabi Investment Authority, Kuwait Investment Authority and Qatar Investment Authority, showed less transparency compared to 2020, he noted.
The COVID-19 hit and falling oil prices have triggered large withdrawals of funds in the region over the past 12 months, the report notes.
The survey assessed 100 large public investors on a range of different measures ranging from their mission and vision to their risk management policy.
Of the 91 funds rated over the two years, 36 improved their scores, 21 stayed the same and 34 saw their performance deteriorate.
Overall, he found that while the funds have generally performed well in governance and improved their sustainability, resilience or ability to withstand crises, remains a concern.
He noted that funds in Colombia, Peru and Mexico were recently depleted as capital was drained following the COVID-19 pandemic, and others in Angola, Kuwait and Oman were reformulated. or merged.
But the report says some funds have taken steps to improve over the past year.
The Libyan Investment Authority spoke with auditors and released a portfolio assessment, while the Angolan fund resumed publication of annual accounts after a corruption scandal that last year led to a sentence of five years in prison for its former director José Filomeno de dos Santos. (Edited by Jan Harvey)