HEY finance hotshot! Want to trade in the London penthouse and 90-hour working week for something totally different? Do you prefer big mountains to big buildings, long summer evenings to long commutes and yet want to pursue a rewarding career in finance? Why not move to Juneau! “You will find all these things and more at the Alaska Permanent Fund Corporation,” promises the website of the government agency which manages the oil revenue Alaska is setting aside for the future. Sovereign-wealth funds and other big institutional investors from Ottawa to Oslo and—if icefishing isn’t your thing—Abu Dhabi to Auckland are hiring. The intention is to lure talent from private-equity firms and hedge funds in order to make the same sort of investments in-house.Sovereign-wealth funds made direct investments of around $186 billion last year, nearly triple the level of 2012, according to the Sovereign Wealth Fund Institute, a consultancy. Pension funds, insurers and family offices are doing the same—a response in part to the exorbitant fees and disappointing returns of many asset-managers. ADIA, Abu Dhabi’s sovereign-wealth...
from The Economist: Finance and economics http://ift.tt/105NCSY
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