Government of Singapore Investment Corp., which manages more than $100 bilion of assets, said it’s more “cautious” about seeking higher returns on its assets as yields remain low.
The average annual return on bond yields will be about 1.9 percent over the next decade, while equities may offer a 1.6 percent median real return a year during that period, said Lim Chow Kiat, chief investment officer of the fund, citing different portfolio models…………………………………Full Article: Source

East Timor’s Oil Fund grew by US$1.2 billion in the first quarter of the year to US$13 billion at the end of March, said the East Timor Central Bank in Dili Monday.
According to the bank’s statement, gross monies paid into the Fund from royalties and taxes totalled US$946 million, and no funds were transferred to the State’s general account in the period………………………………………..Full Article: Source

The Kingdom can reduce its dependence on oil revenues by creating a strong sovereign wealth fund (SWF), according to some experts. Although economic conditions in Saudi Arabia like money supply, foreign exchange reserves, external debt and domestic economic development are positive factors to create a sovereign wealth fund (SWF), Saudi Arabia still lags behind in this area, one of them said.
Experts acknowledged that Saudi Arabia doesn’t prefer sovereign wealth funds like some GCC states that moved toward setting up SWFs as a main source of the economy. Fahad Al-Turki, head of research department, Jadwa Investments, said it was unfair to compare the SWF of the Kingdom with that of the other GCC states, especially when Saudi Arabian Monetary Agency (SAMA) manages Saudi sovereign wealth……………………………………Full Article: Source

Despite a projection that Nigeria’s external reserves might rise to an average of between $80 and $85 billion in the next four years, the International Monetary Fund (IMF) has warned against the negative impact of the declining oil price in recent times, saying the country’s Excess Crude Account could be depleted under a year. The IMF’s Senior Resident Representative in Nigeria, Scott Rogers, gave the warning while presenting highlights of the Staff Report on the 2012 Article IV Consultation, to be published soon by the Fund.
According to Mr. Rogers, a decline in international oil prices to $97 per barrel (annual average) would begin to erode the ECA balances, while a fall to $80-85 is capable out wiping out ECA balances within a year; pointing out that with lower oil revenue and expenditure restraint by government, “fiscal deficits are projected to re-emerge.”…………………………………..Full Article: Source

The Pula Fund has gained P3.15 billion in the six months since the Bank of Botswana drew down P21 billion in order to replenish the country’s import cover as well as meet external debt obligations.
Bank of Botswana (BoB) data published yesterday pegged the Pula Fund at P41.99 billion in February, about eight percent higher than the P38.84 billion it was left at after the drawdown last September.The Pula Fund is a sovereign wealth fund comprising both national savings built from historical budget surpluses and mineral revenues as well as foreign reserves in excess of the country’s medium-term requirements………………………………………..Full Article: Source

Abu Dhabi’s sovereign wealth fund International Petroleum Investment Company (Ipic) said on Tuesday its fiscal year 2012 net profit rose to a whopping Dh6.4 billion from Dh164.1 a million year earlier on the back of robust operational performance of Cepsa, Nova Chemicals, and Borealis along with the recovery of certain listed equities held by Aabar.
“Total comprehensive income reached Dh6.0 billion for 2012, an increase of Dh15.3 billion from the previous year. Consolidated revenue increased from Dh126.0 billion to Dh190.6 billion in 2012 while operating profit increased from Dh9.2 billion to Dh11.7 billion for the same period,” Ipic said in a statement………………………………………..Full Article: Source

Norway’s $728 billion Government Pension Fund Global, the largest sovereign wealth fund in the world, grew by 219 billion kroner ($37 billion) during the first quarter of 2013, due to unprecedented stimulus from central banks trying to boost economic growth.
The fund, which generates money from taxes on oil and gas, ownership of petroleum fields, and the government’s 67% stake in Statoil ASA, experienced returns of 5.4 percent over the first three months of the year, with stocks returning 8.3 percent, and bond investments climbing 1.1 percent………………………………………..Full Article: Source

Norway’s sovereign wealth fund, the world’s largest, gained 219 billion kroner ($37 billion) in the first quarter as stocks surged amid unprecedented stimulus from central banks to boost economic growth.
The $728 billion Government Pension Fund Global returned 5.4 percent in the first three months of the year, the Oslo- based investor said today. Stocks returned 8.3 percent, while bond investments climbed 1.1 percent. Real estate investments lost 0.3 percent………………………………………..Full Article: Source

The government’s fiscal reserve has managed to squeeze a return of less than 1.75 percent out of its billion-dollar investments in its first year. University of Macau public economics professor Jenny Huang Bihong said the return was “too low, much lower than inflation”.
“As such its value is essentially declining.” The average rate of inflation for same period, the 12 months ending February 28, was 6.16 percent. Ms Huang told Business Daily that Macau should establish a sovereign wealth fund similar to Singapore’s Temasek Holdings (Private) Ltd. But another scholar disagrees, warning that such a move might not improve return on investment………………………………………..Full Article: Source

The State Oil Fund of Azerbaijan (SOFAZ) forecasts its total assets by the end of 2013 will remain at the level of last year, CEO of the Fund, Shahmar Movsumov, told journalists on Tuesday. “If oil prices on the world markets remain unchanged, we can keep the assets at the level of the beginning of the year, although the budget has been prepared with a deficit,” Movsumov said.
In 2012, the revenues of SOFAZ amounted to about 13.674 billion manat with expenses at 10.574 billion manat. SOFAZ budget revenues were approved for 2013 to the sum of more than 11.482 billion manat and expenditure more than 13.403 million manat. In the first quarter, the revenues comprised over 3.523 million manat, and expenditure about 2.930 billion manat………………………………………..Full Article: Source

Bahrain Mumtalakat Holding Company (Mumtalakat), the investment arm of the Kingdom of Bahrain, was presented with the first Foreign Sovereign Wealth Fund award by RAM Rating Services Berhad (RAM Ratings) during the 2013 annual RAM League Awards in Kuala Lumpur. RAM Ratings has been hosting the annual League Awards for the past decade, recognizing institutions which have demonstrated accomplishment and leadership in the Malaysian debt capital market.
In July 2012, Mumtalakat established its MYR 3 billion (approximately US$1 billion) equivalent sukuk murabahah program in Malaysia. The sukuk program has a tenure of 20 years and allows Mumtalakat to issue from time to time one or more series of sukuk murabahah to Malaysian institutional investors………………………………………..Full Article: Source

For the 1st quarter the State Oil Fund of Azerbaijan (SOFAZ) had budget net surplus at AZN 593.8 million or 16.85% of revenues for the reported term.According to SOFAZ, in the 1st quarter it received AZN 3.5 bn of revenue and made AZN 2.929 bn of expenditures. Due to that, SOFAZ assets for the quarter increased by 0.6% - from $34.129 bn up to $34.325 bn.
The basis of revenue for the quarter were proceeds from oil and gas production PSA contracts for AZN 3.413 bn, including revenue from sale of profit oil and gas for AZN 3.410 bn. Another AZN 110.4 million were brought to Fund’s budget by revenues from the management of its assets. Transit fee provided AZN 2.1 million, bonus AZN 200,000, sale of assets transferred by foreign companies AZN 10,000…………………………………….Full Article: Source

Azerbaijan’s State Oil Fund, known as Sofaz, expanded its assets 0.6 percent to $34.3 billion as of April 1 from the end of last year. Sofaz’s gold holdings have increased to 18.4 metric tons by the end of the first quarter, according to an e-mailed statement today from the fund, which was established in 1999 in Baku, the Azeri capital, to manage the Caspian Sea nation’s income from the sale of oil and natural gas.
The fund started investing in gold, as well as in the Australian dollar, Russian ruble, Turkish lira and real estate last year to diversify holdings. It plans to increase its gold reserves to 30 tons by the end of the year………………………………………..Full Article: Source

Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-March, 2013 reached 3 523.4 million manats, while budget expenditures constituted 2 929.6 million manats.
Revenue of 3 413.0 mln. manats was received from implementation of oil and gas agreements, including 3 410.7 mln. manats from the sale of profit oil and gas, 2.1 mln. manats as transit payments, 0.2 mln. manats as bonus payments and 0.01 mln. manats from sale of assets received from foreign companies………………………………………..Full Article: Source

The value of Norway’s $724 billion oil fund is likely to fluctuate more in the coming years, said Minister of Finance Sigbjorn Johnsen Friday, adding that he still expected an average annual yield of 4%. “I think 4% is a realistic target,” Mr. Johnsen told Dow Jones Newswires after presenting the government’s annual review of the oil fund’s performance and strategies.
The fund returned 13.4% on its investments in bonds, stocks and real estate in 2012, its second best year ever. But Mr. Johnsen said the Norwegian people should expect more volatility in the fund’s value in the years to come………………………………………..Full Article: Source

The Excess Crude Account (ECA) is now $7 billion, as the Federal Government, states and the 774 local government councils in the country shared N731.13 billion.
The allocation, which is for March, was shared by the three tiers of government after a stormy session at the meeting of the Federation Account Allocation Committee (FAAC) in Abuja, occasioned by the face-off of state commissioners of finance with the Minister of State for Finance, Lawan Yerima Ngama………………………………………..Full Article: Source

Abu Dhabi state investment fund Mubadala swung back into profit in 2012 as losses on its financial investments halved and revenues rose across its broad portfolio of companies.
Mubadala, which has a mandate to diversify the capital of the United Arab Emirates’ oil-reliant economy, reported net profit of Dh455m ($124m), compared with a loss of Dh3.2bn in 2011, when the fund was hit by impairments caused by declining financial and property markets………………………………….Full Article: Source

Mubadala, the Abu Dhabi investment fund with a mandate to boost the emirate’s local economy, swung to a net profit in 2012, helped by improved margins at some of its core businesses and lower impairments. Mubadala, which has stakes in General Electric and private equity firm Carlyle, made a profit of AED455m ($123.88m) for 2012.
Unlike other regional sovereign wealth funds like Abu Dhabi Investment Authority (ADIA) or Qatar Investment Authority (QIA), Mubadala’s main goal is to engage in investments which enhance development of the local economy, a theme which has gained greater consensus since the wake of the Arab spring…………………………………..Full Article: Source

Mubadala Development Company’s total comprehensive income posted a strong surge to Dh1.4 billion from a negative Dh4.2 billion in 2011, on the back of bumper gains from chip-making, hydrocarbon, aerospace and satellite businesses.
The rise in the Abu Dhabi-based investment and development company’s comprehensive income is a result of a 12 per cent year-on-year surge in revenues, which rose to Dh31.3 billion compared to Dh 27.9 billion in 2011…………………………………..Full Article: Source

The volume of funds held in the state oil fund SOFAZ — an entity that accumulates and manages Azerbaijan’s oil and gas revenues — is currently equal to half of the country’s gross domestic product, SOFAZ head Shahmar Movsumov told a meeting of the World Economic Forum (Davos Forum) in Baku on Monday.
In early March, the State Statistics Committee reported that Azerbaijan’s GDP increased by 3.2 percent in January-February compared to the same period of last year and hit 8.344 billion manats (nearly $10.63 billion). According to Movsumov, the funds accumulated in the state oil fund are mainly invested outside the country and mostly directed to infrastructure projects………………………………………..Full Article: Source

Qatar’s sovereign wealth fund had assets under management of more than $100 billion, helping the Gulf nation’s pursuit of a AAA credit rating, according to the Qatar Financial Centre Authority.
A rating upgrade is possible because of the nation’s financial strength, Abdulrahman Ahmad Al-Shaibi, managing director of the government-run authority charged with expanding the nation’s financial services, said………………………………………..Full Article: Source

The Government of Singapore Investment Corporation, which made a $575 million secondary loan, and invested as much as $200 million in equity, stands to lose all of that.
This is not the only time Singapore’s sovereign wealth funds have lost money; plenty more have been written off through failed investments like in Wall Street banks. In 2008, Temasek Holdings – the country’s other sovereign wealth fund – admitted to losing over US$46 billion in just eight months, from March to November. GIC is expected to have lost at least the same amount………………………………………..Full Article: Source

The expected annual yield of 4% for Norway’s $700 billion oil fund is uncertain in the long-term, the fund’s Chief Executive Yngve Slyngstad told a parliamentary committee Wednesday. “The estimated 4% real yield is uncertain, also for long time horizons,” Mr. Slyngstad told the Standing Committee on Finance and Economic Affairs, which is holding hearings on the funding needs of the Norwegian welfare state as the population grows older.
Mr. Slyngstad was invited to comment on a government white paper outlining the long-term financing of the generous Nordic welfare state. Like many European countries, Norway has an aging population and welfare spending is set to grow faster than tax revenues………………………………………..Full Article: Source

As Alaskans applied for their share of the bonanza, the Alaska Permanent Fund reached a new high of $45.5 billion, thanks to records being set in the U.S. stock market, particularly the Standard & Poor’s 500 Index and the Dow Jones Industrial Average.
In the four years since Wall Street bottomed out, the Permanent Fund has shot up in value about 60 percent. But Alaskans shouldn’t get their hopes for a bonanza too high. The Alaska Permanent Fund Corp. (APFC), which manages the fund’s investments, is projecting the annual dividend to qualifying state residents will be less than $800 this year………………………………………..Full Article: Source

Sovereign wealth fund (SWF) investments witnessed a 36 per cent dip in 2012 from 2011 levels as managers played it cautious amid global economic uncertainty. SWFs invested just $57.3 billion of fresh capital last year, in comparison with $89.5 billion in 2011, the lowest level since 2006.
As a consequence of the reduced budget, sectors such as healthcare and energy witnessed a reduction in SWF investments in 2012 vis-à-vis 2011. SWF spends on healthcare and utilities fell by more than half and their energy investments dipped by 46.8 per cent. On the other hand, SWF investment in consumer goods firms shot up by 127.9 per cent and information technology spends by 90.1 per cent in 2012 from year-ago levels………………………………………..Full Article: Source

Qatar emerged as the world’s wealthiest country in 2010 with a per capita income of $88, 559, having overtaken Luxembourg, and continued with its top ranking the next year (2011). Washington-based Institute for International Finance (IIF) has reported that Qatar’s per capita GDP at purchasing power parity (PPP) was $106,000 (QR387,000) in 2012, helping the country retain its ranking as the world’s wealthiest nation.
As for Qatar Investment Authority (QIA), the UK-based TheCityUK ranked it 12th among the world’s sovereign wealth funds in terms of asset size in the year 2012. The assets of the QIA totalled $115bn. TheCityUK said in a report titled ‘Sovereign Wealth Funds’ released this month that the profile of sovereign wealth funds had risen considerably since 2007………………………………………..Full Article: Source

The New Zealand Superannuation Fund is worth close to $22 billion after its investments returned 17.58 per cent in the year to February 28. The fund, which was set up in 2003 to help pay for the costs of the baby boomer retirement bubble, was up 1.31 per cent last month despite having no new financial contributions from the Government in the last three years.
The fund now has an average yearly return of 8.41 per cent per annum since its was launched in September 2003 and has added $5 billion above what it would have got if the money had been invested at the Treasury Bill rate………………………………………..Full Article: Source

The median superannuation fund returned 2.2 per cent in February, according to the latest Morningstar Australian Superannuation Survey. Longer-term annualised results for the median growth fund were 14.1 per cent over one year, 7.1 per cent over three years, 3 per cent over five years and 7.1 per cent over the 10 years to 28 February 2013.
The returns were the result of growth assets performing strongly in February, according to Morningstar. The ASX300 rose by 5.3 per cent, international shares were up 1.9 per cent, Australian property securities rose 3.5 per cent, and global property securities were up 1.7 per cent in February………………………………………..Full Article: Source

The collective assets of Sovereign Wealth Funds, or SWFs, in the GCC surged to an all time high of around 1.7 trillion at the end of 2012, boosted by mounting fiscal surpluses on the back of high oil prices, Moody’s Investors Service said in a new report.
The London-based rating agency said in a report that the assets controlled by SWFs in the GCC climbed by nearly 700 billion from their level of around 1 trillion at the end of 2007. Moody’s observed that the GCC economies have benefited from large foreign-exchange inflows driven by oil revenues, adding that some of the windfall has been spent through the governments’ fiscal accounts while the rest was placed in SWFs, reinforcing their financial strength………………………………….Full Article: Source

Sovereign wealth funds will increase their assets by 60 percent over the next three years, bolstered by rising income from commodities and exports, according to UBS AG.
State funds will manage about $8.6 trillion in 2016, up from $5.3 trillion now, according to Massimiliano Castelli, head of strategy at Global Sovereign Markets, the unit of UBS Global Asset Management that services sovereign institutions worldwide. Sovereign investors will also add more assets in emerging markets and cut holdings denominated in currencies such as the euro and the Japanese yen, he said…………………………………Full Article: Source

Government of Singapore Investment Corp., which manages more than $100 billion of reserves, said it stopped publishing its nominal returns in the local currency because they should be compared with global benchmarks.
The annual report should focus on GIC’s primary mandate of achieving its so-called real rate of return, or subtracting the global inflation rate from the nominal performance, according to Josephine Teo, minister of state for finance. The fund stopped publishing the nominal rate of return converted to Singapore dollars three years ago, she said…………………………………Full Article: Source

The Government Investment Corporation’s Report on the Management of the Government’s Portfolio stopped publishing its nominal returns converted to Singapore dollars three years ago.
Replying to a question in Parliament on Wednesday, Minister of State for Finance Josephine Teo said this is to avoid confusion when comparisons are made with other fund managers or global market indices…………………………………Full Article: Source

Sovereign wealth funds (SWFs) are set to see their assets grow to $5.6 trillion by the end of 2013, a study found, a sum more than double British GDP and underscoring their status as the world’s wealthiest investors.
SWFs, state-owned vehicles such as the Qatar Investment Authority which manage windfall revenues for future generations, have become key global market players after the financial crisis, spending an estimated $90 billion buying up stakes in Western banks including Barclays Plc for instance………………………………………..Full Article: Source

Sovereign wealth fund assets increased by 8% last year to reach a record $5.2 trillion, with Asian entities accounting for $2 trillion, or 39% of the total, according to figures by the Sovereign Wealth Fund Institute and a UK financial sector body.
China has the biggest share of SWF capital by country, with $1.49 trillion, accounting for 29% of the global total of sovereign wealth. It is up from $1.14 trillion last year and is nearly twice as much as the $816 billion held by United Arab Emirates, the second-largest pool of SWF assets………………………………………..Full Article: Source

Strong oil prices have sharply widen the fiscal surpluses in Gulf hydrocarbon producers and this boosted the assets of their government funds to an all time high of around $1.7 trillion at the end of 2012, according to Moody’s investor service.
The assets controlled by sovereign wealth funds (SWFs) in the six-nation Gulf Cooperation Council (GCC) were nearly $700 billion higher than their level of around $one trillion at the end of 2007, the rating agency said………………………………………..Full Article: Source

Libya, whose sovereign wealth fund declined by at least $4 billion in value over the past four years, said it’s demanding an explanation from Societe Generale SA (GLE) on how it lost about $1 billion on derivative contracts.
“We have been in contact a number of times but have not received a satisfactory answer,” Mohsen Derregia, the outgoing chairman and chief executive officer of the fund, said in an interview from Tripoli. “We are pursuing this matter further.”……………………………………….Full Article: Source

Norway’s sovereign wealth fund, one of the world’s biggest investors, grew by around $100 billion (€76.9 billion) in 2012, sealing one of its best years on record as it benefited from the striking upturn by stock markets.
Known as the ‘oil fund’, it invests revenue from Norway’s lucrative oil industry for the country’s future. It is now worth around $710 billion (€546.6 billion), 40 per cent more than the value of the entire Norwegian economy………………………………………..Full Article: Source

Norway’s sovereign wealth fund, popularly known as the “Oil Fund,” has reported another year of strong growth and impressive returns amounting to its next-best result ever. Now the fund’s bosses reportedly want to take a more active role in the companies where the fund is a major investor.
The fund logged an overall return of 13.4 percent in 2012, broken down by 18.1 percent on its stock portfolio, 6.7 percent on its interest-bearing investments and 5.8 percent on its real estate holdings. As some Norwegian media reported, the enormous fund used to save up Norway’s oil wealth for future generations earned an average of NOK 1.2 billion every single day last year………………………………………..Full Article: Source

Norway’s oil fund, one of the biggest investors in the world, rose in value by 13.4% last year, its second-best performance ever. The central bank said the fund’s investments in shares jumped by 18.1% in 2012, boosted by soaring equity indexes around the world.
It is now worth 3.8tn krone (£450bn; $670bn), up from 3.3tn krone in 2011. Norway’s fund invests the money from its huge oil industry in the nation’s future. The sovereign wealth fund is now 40% bigger than the value of the entire Norwegian economy. If it was invested inside the nation, this would cause distortions like massive inflation………………………………………..Full Article: Source

Norway’s sovereign wealth fund, one of the world’s biggest investors, grew by around $100 billion in 2012, sealing one of its best years on record as it benefited from the striking upturn by stock markets. Known as the ‘oil fund’, it invests revenue from Norway’s lucrative oil industry for the country’s future. It is now worth around $710 billion, 40 percent more than the value of the entire Norwegian economy.
The fund has been steadily reducing its assets in Europe as part of a long-term plan to move into both emerging and developed markets in Asia and the Americas - where it sees the strength of the world’s economy in the years ahead………………………………………..Full Article: Source

China Investment Corp., the country’s main sovereign wealth fund, earned a 10.65% return on its overseas investments last year, CIC Executive Vice President Liang Xiang said, marking a rebound from last year’s loss.
CIC’s total accumulated overseas investment return since it was established in 2007 is now above 5%, Ms. Liang said on the sidelines of the National People’s Congress, the annual meeting of the country’s legislature………………………………………..Full Article: Source

In 1987, the value of Alberta’s Heritage Savings and Trust Fund stood at $12.7 billion. That year, the province faced a massive budget deficit and transfers to the fund from resource revenues were suspended. Such deposits did not resume again until almost two decades later and only lasted two years before being suspended again.
There is little doubt of the severity of the financial difficulties facing Alberta. In many ways it’s the late 1980s all over again. Alberta has again squandered a period of pronounced prosperity and ended up with unsustainable deficits, the likelihood of mounting debt, and no savings. While reform and reduction of spending will have to be undertaken in the short term to achieve a balanced budget, the province should not forget or ignore the need for longer term reform………………………………………..Full Article: Source

The total assets of the National Fund of Kazakhstan amounted to $68.9 billion (34 per cent of GDP), the minister of economy and budget planning Erbolat Dosaev said. “The government of Kazakhstan is going to continue the policy of accumulating assets in the National Fund considering the irreducible residue at a rate of 20 per cent of the expected value of GDP,” he said.
Moreover, in order to provide the budget with a stable revenue source and finance the expenditures allocated on an increase of economic activity and employment, the law of the Republic of Kazakhstan ‘on guaranteed transfer from the National Fund of Kazakhstan’ was adopted, Trend was informed………………………………………..Full Article: Source

China Investment Corp., the country’s main sovereign wealth fund, earned a 10.65% return on its overseas investments last year, CIC Executive Vice President Liang Xiang said Wednesday. CIC’s total accumulated overseas investment return since it was established in 2007 is now above 5%, Ms. Liang said on the sidelines of the National People’s Congress, the annual meeting of the country’s legislature.
CIC reported a 4.3% loss on its overseas investments in 2011 as its holdings, including energy and resource producers, were hit by volatile global markets. Ms. Liang said the U.S. and Europe would still be the fund’s main markets for investment this year, though the euro-zone crisis remains a major concern………………………………………..Full Article: Source

China Investment Corporation, China’s sovereign wealth fund, registered a 10.6 percent return ratio on its investments last year, said Liang Xiang, executive vice-president of CIC on Monday. “The performance is very comforting amid the backdrop of a complicated economic situation and financial markets last year,” she said.
Liang said that half of CIC’s portfolio was invested in the open market, while the other half was invested in long-term projects in the real economy. “Real estate will not be a major target for our investments, but it will continue to be a part of our portfolio that provides sound returns,” Liang said………………………………………..Full Article: Source

VTB Group rebounded, headed for the biggest gain on Russia’s benchmark stock gauge, after Reuters reported Qatar’s sovereign wealth fund hired UBS AG (UBSN) for advice on a possible $3 billion investment in the bank.
The bank gained as much as 1.7 percent after falling 2.4 percent earlier and traded up 1.3 percent at 5.56 kopeks by 3:24 p.m. in Moscow. The amount of shares traded was 48 billion, equivalent to about 1.4 times the three-month average. The Micex tumbled 1.2 percent…………………………………..Full Article: Source

With more than US$100 billion (S$125 billion) of funds, the Government of Singapore Investment Corporation (GIC) is one of the largest sovereign wealth funds in the world, and is highly regarded internationally for its professionalism. Chief investment officer Ng Kok Song, 64, stepped down on Feb 1, after 27 years of managing Singapore’s foreign reserves.
He steered GIC through financial booms and busts, including the October 1987 Black Monday stock market crash, the Asian financial crisis, the dot.com bubble and the recent global financial crisis…………………………………..Full Article: Source

East Timor’s Oil Fund grew by US$720.94 million in the fourth quarter of 2012 and ended the year with a total value of US$11.777 billion, said the East Timor Central Bank. The report on the last three months of 2012, available on the East Timor Central Bank’s website and dated 12 February, said that the “capital of the fund increased from US$11.054 billion to US$11.777 billion.”
Capital added to the fund from taxes, royalties and other revenue totalled US$1.234 billion and a total of US$590.4 million had been taken out of the fund………………………………………..Full Article: Source

Alaska’s oil wealth portfolio has hit an all-time high: $45 billion. The Alaska Permanent Fund Corp. announced the fund hit the mark Tuesday. The corporation tracks the fund daily. CEO Mike Burns said hitting $45 billion is a sign the Alaska Permanent Fund has not only regained ground lost during the recession but also that it is growing.
Burns says the fund, by any measure, has been very successful. He says the patience Alaskans have had in growing the fund is extraordinary, and says it takes a lot of political will to keep the fund off limits for use on other things……………………………………..Full Article: Source

The Alaska Permanent Fund Corp. announced the fund hit the mark Tuesday. The corporation tracks the fund daily. CEO Mike Burns said hitting $45 billion is a sign the Alaska Permanent Fund has not only regained ground lost during the recession but also that it is growing.
Burns says the fund, by any measure, has been very successful. He says the patience Alaskans have had in growing the fund is extraordinary, and says it takes a lot of political will to keep the fund off limits for use on other things……………………………………Full Article: Source