SSgA points to further sovereign diversification

The incoming global head of official institutions at State Street Global Advisors is likely to have a major focus on Asia Pacific, given that the region accounts for the majority of sovereign assets globally and state entities are looking to diversify their portfolios. Accordingly, Asia Pacific is thought to account for more than half the $400 billion in sovereign funds managed by SSgA globally, although the firm declined to confirm the figure. Louis de Montpellier has joined SS…