全球机构如何看2025丨国君热点研究

Group 1: Investment Strategies - Korea's NPS is selling $50 billion in USD to maintain the KRW exchange rate and is increasing investments in infrastructure and global equities, raising the allocation from 33% to 35.9%[1] - Norway's GPFG is removing emerging market small-cap stocks from its benchmark index, which represents 22% of the number of companies but less than 1% of market capitalization, simplifying management and reducing costs[2] - GPFG has formed a joint venture with Goodman to acquire 45% of a logistics portfolio in the US for $1.07 billion, valuing the portfolio at $3.265 billion[3] Group 2: Market Insights - Canada’s CPPIB sold a 49% stake in four joint venture retail projects in China for a net gain of CAD 235 million[4] - CPPIB is optimistic about the Brazilian residential market, forming a joint venture with Cyrela to develop residential apartments in São Paulo with a potential sales value exceeding BRL 6 billion (CAD 1.44 billion)[5] - OTPP's global investor sentiment report shows that 70% of investors are optimistic about the investment environment in 2025, with concerns primarily around market volatility (54%), macro factors (49%), and geopolitical instability (44%)[6] Group 3: Investor Sentiment - 78% of global investors view technological changes, such as AI, as opportunities, with 94% wanting to incorporate AI into their business[7] - 73% of investors are optimistic about the private market environment, particularly in India, Brazil, and Singapore[8] - 66% of investors see geopolitical changes as potential opportunities, with many planning to increase investments in their home regions[9]