Nigerian Sovereign Investment Authority studies assets for investment purposes

By Marc Castro

Sep 09, 2013 08:55 AM EDT

The head of Nigeria's sovereign wealth fund, Harvard educated Uche Orji, said he is worried about the increasing stock prices as he prepares to deliver the next tranche of the fund to its external fund management team. 

According to former Goldman Sachs Inc banker and current CEO of the Nigerian Sovereign Investment Authority, "A lot of asset classes are richly valued frankly. There 's still a lot I'm not comfortable with in developed market equities. I'm not going to try and be a hero and catch a falling knife with people's money." He made the remarks during an interview held last September 5.

The goal of the sovereign wealth fund is receiving returns of 400 basis points above the US Consumer Price Index for its USD325 million future generations fund. One of the three pools was established to manage the USD1 billion with plans to be fully invested by mid 2014. The fund would weigh investments in eight assets classes from private equity and emerging market stocks.

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