Libyan wealth fund to appoint investment managers | GulfNews.com:
"The Libyan Investment Authority plans to outsource its investment management, expand in London and implement international standards of governance, as it seeks to move beyond allegations of past mismanagement, cronyism and failed investments.
“LIA will no longer manage investments as it did in the past — we will manage external managers”, Abdulmagid Breish, the chairman of the Libyan Investment Authority told the Financial Times in an interview today.
As part of its restructuring plans, the LIA wants to expand its operations in London, where is already owns a valuable commercial property portfolio. “[London] will be a centre of excellence where a lot of the analytics, a lot of the research and the management of external managers will be handled,” Breish said.
“We will have to prepare our risk profile and allocation,” he added. “Once that is done, we will identify which best in class fund managers will be suitable”."
'via Blog this'
No comments:
Post a Comment