The Government of Singapore Investment Corp (GIC) has raised US$1.25 billion by selling about 596 million shares in warehouse operator Global Logistic Properties (GLP).
GIC sold the shares at S$2.60 each, which is a 4.8 per cent discount to Monday’s closing price. Following the share sale, it now holds a 37 per cent stake in GLP, down from 49 per cent…………………………………..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

German car giant Daimler is not expecting sovereign wealth fund China Investment Corp to continue with its purchase of the ten percent stake in the company. The observation was made by Daimler’s Chief Financial Officer Bodo Uebber.
In an interview with Handelsblatt, “No, I don’t expect this to happen. There is a lot of speculation about us looking for another anchor shareholder in addition to Kuwait, but that’s not true.” Currently, Kuwait holds a 7.6 percent stake in the German carmaker…………………………………..Full Article: Source

In keeping with its goal of encouraging more foreign investment into Australia, the Federal Government will change existing laws to ensure foreign pension and sovereign wealth funds can access the Managed Investment Trust (MIT) withholding tax regime.
In summary, the regime allows a MIT to make payments to non-residents at concessional withholding tax rates, offering an attractive Australian investment option for foreign funds where they and their members are ultimately based overseas…………………………………..Full Article: Source

Singapore sovereign wealth fund GIC cut its stake in warehouse operator Global Logistic Properties (GLP) by about a quarter, selling around 596 million GLP shares at S$2.60 each, according to a term sheet seen by Reuters.
The sale, which raised about $1.25 billion, was at the bottom of a S$2.60-$2.66 per share indicative range. GLP closed at S$2.75 on Monday. The Government of Singapore Investment Corp (GIC) said in a statement on Tuesday that the sale was part of the sovereign fund’s “regular rebalancing activities for its overall portfolio” and that it remained a substantial long-term shareholder………………………………………..Full Article: Source

Government of Singapore Investment Corp. said its sale of a stake in Global Logistic Properties Ltd. (GLP) is part of its rebalancing of its holdings and that it remains a “substantial” long-term shareholder in the real estate company.
GIC, Singapore’s sovereign wealth fund that’s Global Logistic’s biggest shareholder, is raising S$1.5 billion ($1.2 billion) selling part of its stake in GLP, according to a term sheet obtained by Bloomberg News today………………………………………..Full Article: Source

Global Logistic Properties Ltd. (GLP) fell the most in almost 17 months in Singapore trading after Government of Singapore Investment Corp. said it is selling a stake in the biggest owner of industrial properties in Japan.
Shares of the company, also known as GLP, declined as much as 7.3 percent to S$2.55 and traded at S$2.56 as of 10:40 a.m. in Singapore, set for the biggest drop since Oct. 4, 2011………………………………………..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

The Egyptian Financial Supervisory Authority (EFSA) has approved the offer presented by Qatar National Bank (QNB) to buy 100% of National Société Générale Bank (NSGB). QNB is 50%-owned by the Qatar Investment Authority (QIA), the sovereign wealth fund spearheading Qatar’s international acquisitions lately, including stakes in Barclays, Volkswagen and Harrods.
The Qatari Bank submitted a mandatory tender offer (MTO) for 100% of the NSGB shares, according to a statement by EFSA, after being required by the authority to buy the totality of the shares rather than its originally planned 77% stake, which it announced in December………………………………………..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

Chile will siphon US$2 billion into a state-owned investment fund that, in part, buffers the country against the ups and downs of international markets, Finance Minister Felipe Larraín said Wednesday. He projected the sovereign wealth fund (SWF) to climb to US$22.9 billion, inching past US$22.7 billion for the first time since the 2008 financial crisis hit.
Given this fund’s boost, Chileans are calling on the government to shoulder a greater slice of the country’s sky-high gasoline prices……………………………………Full Article: Source

Sovereign wealth funds and endowments lapped up permits to buy Indian government and corporate bonds as the signs of macro-economic stability are getting stronger and the returns, at least in rupee terms, remain higher than peers.
The Securities & Exchange Board of India received bids for .Rs34,984 crore of corporate bonds where the auctioned amount was Rs 26,925 crore, with total investors at 49. “The auctions are an indication of appreciation of yield pick-up available here,” said Parthasarthy Mukherjee, president, treasury and international business, Axis Bank…………………………………..Full Article: Source

A plan by Qatar Holding, one of gas-rich Qatar’s main state investment funds, to seek a credit rating will cast more light on its multibillion-dollar international investments after questions over some of its dealings in recent months.
Ahmad al-Sayed, the chief executive of Qatar Holding, a subsidiary of Qatar’s sovereign wealth fund, said on Tuesday that the fund was preparing for a rating in the coming months, which would force the global investor to be more transparent……………………………………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

Qatar will create a new $12 billion investment firm, backed by blue-chip assets from its sovereign wealth fund, and list it on the local stock exchange, its main institutional backer said on Tuesday. Qatar Holding—the investment arm of the Qatari sovereign fund—said the new firm will invest in assets around the world.
“You name it—shares, bonds, real estate, private equity. We will look at every sector in every country around the world,” Hussain al-Abdullah, Qatar Holding’s vice-chairman, said…………………………………..Full Article: Source

Samruk-Kazyna National Welfare Fund will start cost saving, Tengrinews.kz reports citing the Fund’s press-service. 11 Kazakhstan companies have already implemented the cost saving program. “The group is expected to save around 70 billion tenge ($467 million) in three years. The fund’s cost saving program was developed with the help of international consultants.
All business processes, self-costs and other expenses of the companies were analyzed. The program is expected to improve the competitiveness and optimize the group’s activities. The three-year program is being implemented by KazMunaiGas, Kazakhstan Temir Zholy, KazAtomProm, Kazakhstan Engineering, Samruk-Energy, KEGOC, KazpPochta, Kazakhstan Development Bank, SK-Farmatsiya, Damu and Samruk-Kazyna Fund,” the press-service said…………………………………..Full Article: Source

The Alabama House has given final passage to a bill that requires full repayment of money transferred from an oil and gas revenues savings account to the state’s General Fund budget. The House voted 90-0 Thursday to approve an amendment put on in the Senate that requires repayment of the money even if the Legislature doesn’t appropriate the funds.
An amendment to allow the state to take the money from the Alabama Trust Fund and use it for the cash-strapped General Fund budget was approved by voters in September. Before voters decided on the amendment, Bentley and some legislators promised the money would be repaid…………………………………..Full Article: Source

It’s no surprise, really. That sums up the reaction of analysts to Temasek Holdings becoming the largest shareholder of Olam International. The sovereign investment firm last Friday added a further 0.01 per cent, or 150,000 shares, to its stake in the agricultural commodities trader, bringing its total stake in the firm to 21 per cent.
According to filings on the Singapore Exchange, the purchase was made through market transactions. Temasek paid $247,500, or $1.65 apiece.Olam’s founding firm Kewalram Singapore has now been pushed to second spot in the list of shareholders, with a 20.23 per cent stake, according to Bloomberg data………………………………………..Full Article: Source

Qatar’s sovereign wealth fund is in advanced talks with Russia’s second-largest bank VTB about injecting between U.S.$3bn and U.S.$3.5bn into the banking giant, the Telegraph reported. VTB will likely issue the Qataris with U.S.$1.5bn of new equity and US$1.5bn of mandatory convertible bonds under the structure of the deal, the daily said citing sources.
The deal may be announced by next week, the paper said. VTB shares jumped as much as 3.76 percent on the report, while the overall Russian market was 0.08 percent down by 0717 GMT. VTB declined to comment on the report. Representatives for Qatar’s sovereign wealth fund were not immediately available for comment………………………………………..Full Article: Source

Qatar’s sovereign wealth fund raised its stake in luxury jeweler Tiffany & Co by one percentage point to 8.7 percent. Qatar Investment Authority (QIA) was already the single largest shareholder in Tiffany. Shares in the company increased 0.4 percent to US$ 63.32 on the New York Stock Exchange following the announcement.
In 2012 QIA has been buying minority equity stakes in other large companies, including in oil companies as Shell and Eni………………………………………..Full Article: Source

Talks are at an early stage and more detail is expected to emerge in the coming weeks about how the Investment Corporation of Dubai (ICD) plans to handle the loan’s maturity. The loan is the second tranche of a $6 billion facility that the ICD raised in September 2008.
Unfavourable market conditions meant that the ICD did not take up a refinancing package for the previous $4 billion, opting instead to repay the full amount, but bankers believe that improved sentiment towards Dubai as a borrower will make the pricing more attractive and a new loan more likely this time………………………………………..Full Article: Source

In recent years, Qatar Holding has emerged as one of the world’s most dynamic sovereign wealth funds, buying trophy assets such as Harrods in London and more recently playing kingmaker in the vast merger of Xstrata and Glencore.
While the government and members of the ruling family have invested through different vehicles, Qatar Holding has made the lion’s share of publicly-disclosed investments. Acting more like a hedge fund than the traditional perception of a sovereign wealth fund, bankers familiar with Qatar Holding say that the state-backed fund does few deals without a loan to pay for the acquisition………………………………………..Full Article: Source

The assets of Kazakhstan national fund exceeded 10 trillion tenge ($67 billion) by the end of 2012, Tengrinews.kz reports citing Finance Minister Bolat Zhamishev as saying at the expanded meeting of Finance Ministry attended by Prime-Minister Serik Akhmetov.
“As of the end of 2012 the funds of the National Fund were over 10 trillion tenge ($67 billion) net of investment profits. The share of undrawn balance in the overall expenses made 0.7 percent or 41.6 billion tenge ($277 million), which is 0.1 percent less than in 2011,” Bolat Zhamishev said………………………………………..Full Article: Source

Kazakhstan’s sovereign wealth fund, Samruk-Kazyna, acquired a 29-per cent stake in Glencore-controlled zinc producer Kazzinc. Without disclosing the financial terms of the acquisition, Samruk-Kazyna’s deputy head, Kuandyk Bishimbayev, told reporters, “The Kazzinc deal is closed, and today we own 29 per cent in this enterprise.”
Bishimbayev said that Samruk-Kazyna bought the stake from Kazakhstan billionaire Bulat Utemuratov controlled investment firm Verny Capital………………………………………..Full Article: Source

Kazakhstan’s sovereign wealth fund, Samruk-Kazyna JSC, acquired a 30% stake in Kazzinc, the Kazakhstan integrated zinc, copper and lead producer, from Verny Capital JSC, a person familiar with the matter said Thursday.
Commodities company Glencore International PLC (Glencore International Plc) owns a 69.61% stake in Kazzinc, while the remainder is owned by Verny and a small number of shareholders………………………………………..Full Article: Source

The funds allocated from the National Fund for anti-crisis measures are being returned and reinvested in Kazakhstan economy, Tengrinews.kz reports citing chairman of Samruk-Kazyna National Welfare Fund Umirzak Shukeyev.
“The fund is monitoring the money of the National Fund injected during the anti-crisis program. In 2008-2009 the National Fund allocated the total of 1.09 trillion tenge ($7.25 billion) for anti-crisis measures, including 487.5 billion tenge ($3.25 billion) for stabilization of the financial sector, 120 billion tenge ($800 million) for implementation of innovative-industrial infrastructure projects, 480 billion tenge ($3.2 billion) for support of small and medium business and 170 billion tenge ($1.1 billion) for refinancing of mortgage loans and support to equity share construction………………………………………..Full Article: Source

Kazyna Sovereign Wealth Fund Head Umirzak Shukeev announced February 7 that it is feasible for the Fund to exit BTA, Alliance and Temir banks [that were bailed out following the spill of the global financial crisis] in 2013. “The situation in Alliance and Temir banks got substantially better in 2012. The current situation makes it feasible for the Fund to exit the three banks. Thus quasi-governmental structures will no longer be participating in the country’s banking sector”, Mr. Shukeev told the Fund’s sitting presided over by PM Serik Akhmetov.
He elaborated that the concerted efforts of the National Bank, the Fund and BTA Bank enabled to complete the second debt restructuring at BTA Bank, tackling major issues for the Bank………………………………………..Full Article: Source

Temasek Holdings, Singapore’s sovereign investment fund, and one of Asia’s oldest marquee private equity investor Baring Asia are among those shortlisted by French cement multinational Lafarge as potential buyers for a minority stake in its Indian arm Lafarge India.
Lafarge India — which plans to shed a minority stake of 20-30% to raise Rs 1,325 crore ($250 million) and fund its Rs 6,000-crore expansion plans — is looking to complete the stake sale process by March this year. Saddled with a highly-leveraged consolidated balance sheet at the parent level, Lafarge has decided not to raise more debt locally to fund capital expenditure. Instead it is looking at equity financing from financial sponsors………………………………………..Full Article: Source

Singapore commodities firm Olam International Ltd, backed by Singapore state investor Temasek Holdings Pte Ltd, which came under attack last November by short-seller Muddy Waters LLC, said it has begun a review of its business including it priorities, capital spending and free cash flow generation targets.
“The review is expected to be completed within the next three months after which a suitable announcement will be made,” Olam said in a statement after reporting its quarterly results………………………………………..Full Article: Source

The New Zealand Superannuation Fund has beaten the cost of debt by $346 million over nine years, according to a new analysis. That “modest achievement” was not enough to justify the risks run by the Government’s Super Fund, according to an analysis by the Retirement Policy and Research Centre co-director Michael Littlewood.
The research centre is based at Auckland University. In the past, Littlewood has said the now-$20 billion Super Fund should be carefully dismantled and superannuation payments returned to the original pay-as-you-go model………………………………………..Full Article: Source

Nigeria plans to increase its sovereign wealth fund fivefold to $5 billion within three years, Minister of State for Finance Yerima Ngama said.
Differences between Nigeria’s federal government and state governors, which have delayed additional transfers to the fund, may be resolved soon by expanding the representation of the states on the board of the sovereign wealth authority, Ngama said today in an interview in London. “Once we look at the board and say, ok, state governors, bring your own representatives on the board, I think it will solve it.”……………………………………….Full Article: Source

A recovery in world share markets helped boost the investment returns earned by the Future Fund, Australia’s $82 billion sovereign wealth fund, by more than 12 per cent last year.
In its latest portfolio update, the fund reported today that it had generated returns of 12.8 per cent over the 2012 calendar year - considerably higher than the 7.9 percent annual return achieved over the past three years and the 5.3 per cent average annual return over the past five years. The fund has now returned an annual average rate of 5.4 per cent since it began in May 2006…………………………………….Full Article: Source

Kazakh President Nursultan Nazarbayev has ordered the re-privatisation this year of three banks bailed out by the state’s national wealth fund, the presidential news service said on Monday.
As a result of injecting billions of dollars in aid during the global financial crisis the Samruk-Kazyna fund now owns over 97 percent of BTA, the country’s third-largest bank by assets, 67 percent of Alliance Bank , the eighth-largest lender, and 79.9 percent of Temirbank, 13th in order of size among the country’s 38 banks…………………………………….Full Article: Source

Denmark’s €83bn public pension fund ATP made a return of 9% in 2012, with most of it coming from hedging interest-rates and inflation, demonstrating the need for pension funds of to cover these risks in a “challenging” market environment.
ATP’s chairman Jørgen Søndergaard and acting chief executive Henrik Gade Jepsen said in this morning’s results statement that they expected low interest-rates and low growth to persist during 2013. They said: “Large imbalances continue to affect the world economy, and there are still significant risks in the financial markets. Investors face an elevated risk level, while the low interest rates also mean low return prospects. ATP is therefore expecting 2013 to be another challenging year. With this in mind, ATP will continue to maintain a cautious approach to investments.”……………………………………….Full Article: Source

Kazakhstan’s sovereign wealth fund said it’s seeking to cut the share of deposits it has in foreign banks and provide more liquidity to domestic lenders.
Banks hold 2.9 trillion tenge ($19 billion) for companies owned by the Samruk-Kazyna fund, while 24 percent of that amount is deposited in foreign banks, Deputy Chief Executive Officer Yelena Bakhmutova told reporters in Almaty. The fund plans to cut the share in foreign banks to 10 percent of total deposits in two years, she said………………………………………..Full Article: Source

The number on every Alaskan’s mind was announced Tuesday morning by Revenue Commissioner Bryan Butcher in Anchorage. This year’s Alaska Permanent Fund dividend payout is $878. The dividend will be distributed to eligible Alaska residents on Oct. 4.
Altogether, there were 677,333 Alaska PFD applicants this year, and about 646,805 should qualify, Butcher said. The amount of money disbursed will be a little over $567 million. The oldest applicant was 107 years old, and the youngest was born “minutes before” the qualification deadline on December 31, 2011………………………………………..Full Article: Source

Gov. Rick Perry gave his public blessing this week to use billions from the state’s emergency piggybank to build roads and secure water. Left unsaid was his belief that spending from the Rainy Day Fund shouldn’t stop there.
During his State of the State address Tuesday, Perry called for spending $3.7 billion from the politically thorny fund for one-time infrastructure projects. Not announced to a packed House chamber was that in his budget proposal sent to lawmakers that same day, Perry suggests using nearly another $1 billion from the fund in tax relief………………………………………..Full Article: Source

CVC Capital Partners Ltd., the private-equity firm whose investments include Formula One racing and Samsonite luggage, is targeting 9 billion euros ($12.2 billion) for one of the largest buyout pools currently being sought, according to three people familiar with the matter.
CVC, which last year sold a stake in itself to three sovereign-wealth funds, plans to remain private, unlike some of its U.S. competitors………………………………………..Full Article: Source

In what may appear to be an attempt to placate governors, who had been at daggers-drawn point with the Presidency, President Goodluck Jonathan Tuesday approved the distribution of $1billion from the Excess Crude Account (ECA) among the 36 States and the Federal Capital Territory (FCT).
This was one of the outcome of the first 2013 edition of the National Economic Council (NEC) presided over by Vice President Namadi Sambo Tuesday………………………………………..Full Article: Source

Rep. Jay Love, R-Montgomery, has filed legislation that would require the state to pay back $437 million borrowed from the Alabama Trust Fund by 2026.
The legislation would establish benchmarks for repayment of the money, taken to shore up the state’s troubled General Fund, which pays for most noneducation funding in the state. About $145 million was transferred from the ATF into the General Fund for the current fiscal year; additional transfers are scheduled for FY 2014 and FY 2015………………………………………..Full Article: Source

The State Oil Fund of Azerbaijan (SOFAZ) ensured formation of IFC Catalyst Fund in the amount of $280 million. The International Finance Corporation (IFC) reports that IFC Catalyst Fund focused on equity investments to support climate investments has already mobilized $280 million from the governments of Canada and the UK and the sovereign wealth fund of Azerbaijan. The IFC itself contributed $75 million to the fund.
In turn, SOFAZ announced that its investments in managed IFC Asset Management Company funds and co-financing of projects reached $150 million - $50 million was invested in 2013 in IFC Catalyst Fund and $100 million - in 2010 in the IFC African, Latin American, and Caribbean Fund………………………………………..Full Article: Source

The African Union (AU) has appealed to its member states with sovereign wealth funds in the Euro zone and the US to repatriate the funds to finance multi-billion-dollar investment plans aimed at fast-tracking trade and economic growth on the continent.
AU Commission Deputy Chairperson Erastus Mwencha said while current peacekeeping, infrastructure and education expansion programmes were financed by foreign aid, the AU was seeking more innovative ways to enable the African private sector to take ownership of most of the projects………………………………………..Full Article: Source

The government of the Falkland Islands has made a transfer of over 8 million pounds (£ 8.274 million) to the new Oil Development Reserve, a first step towards a ‘Sovereign Wealth Fund’ based on the Norwegian model it was explained at this week’s meeting of the Standing Finance Committee.
The Falkland Islands Government (FIG) was showing a surplus of £3.910 million compared to a revised budget surplus of £3.515 million, a favourable performance of £0.395 million in first six months of the 2012/13 financial year. This appeared less than anticipated, explained the FIG Management Accountant, due to the transfer of oil related taxation receipts to the Reserve………………………………………..Full Article: Source

Alaska Permanent Fund Corp. returned 7.3% for the six months ended Dec. 31, including a 2.7% return for the quarter ended Dec. 31. The Alaska Permanent Fund returned 2.7% for the second quarter of fiscal year 2013 according to unaudited figures released today by the Corporation, ending on December 31 with a value of $43.7 billion. The Fund’s year-to-date return is 7.3%.
Non-U.S. stocks were the largest contributor to the Fund’s performance for the quarter and for the fiscal year-to-date. The Fund’s non-U.S. portfolio returned 5.8% for the quarter and 13.7% for the first six months of the fiscal year, while the global portfolio returned 3.7% and 11.0% for the respective periods. By comparison, the U.S. portfolio returned 0.7% for the quarter and 7.0% for the fiscal year-to-date………………………………………..Full Article: Source

Kazakhstan earmarked $ 10 billion out of the National Oil Fund [accumulating windfall oil revenues] to combat the financial crisis. However, the money has gone nowhere, a Tengrinews.kz journalist reports, citing President Nazarbayev as saying at a sitting in his Akorda Residence held to tally 2012 results.
“It’s easy to ask for money out of the National Oil Fund. The $ 10 billion allocated to combat the financial crisis is gone. There is no pay-off”, President said. According to President, “country’s banks are begging for the National Oil Fund’s money rather than working properly to earn money”………………………………………..Full Article: Source

The easing of fears over the European debt crisis and the state of China’s economy led to a boost in foreign stocks held by the Alaska Permanent Fund Corp. Officials with the corporation that oversees Alaska’s oil wealth portfolio says the fund ended the second quarter of the fiscal year with a return of 2.7 percent.
The corporation says the fund is up 7.3 percent for the year, and had a value Dec. 31 of $43.7 billion………………………………………..Full Article: Source

Azerbaijan’s State Oil Fund, known as Sofaz, said its assets grew 14.5 percent last year to $34.1 billion as of Jan. 1. Sofaz, established in 1999 to manage the Caspian Sea nation’s income from sales of oil and natural gas, transferred $12.6 billion to Azerbaijan’s state budget, according to a statement e-mailed by the Baku-based fund today.
The fund channeled $382 million to fund construction of housing for people displaced by the war with neighboring Armenia over the Nagorno-Karabakh region, according to the statement. It invested $255 million in reconstruction of the Samur-Absheron irrigation system and spent $152 million on the Baku-Tbilisi- Kars railway project, Sofaz said………………………………………..Full Article: Source

Korea Investment Corporation (KIC), South Korea’s sovereign wealth fund, saw its investment returns surpass benchmark last year as returns from stocks and bonds investment increased amid the persistent strategy to diversify portfolio from the long-term perspective, the sovereign fund said Monday.
KIC’s returns of investment from conventional assets such as stocks and bonds reached 11.83 percent in 2012, topping the benchmark yield of 11.17 percent, the sovereign wealth fund said in a statement. The figure was a rebound from a minus 3.32 percent yield tallied in the previous year, and it marked the highest in three years………………………………………..Full Article: Source

Russia will increase its rainy day Reserve Fund by a half, or 900 billion rubles ($29.3 billion), to reach a total of RUB2.8 trillion–slightly more than expected thanks to increased revenue from oil and gas, the finance ministry said on its website Monday.
The Fund should help even out any fiscal consequences of a potential drop in oil prices to $60-$70 per barrel–currently at almost $95 per barrel in Europe–said Julia Tsepliaeva, head of Market Economics Russia and CIS at BNP Paribas, in a research note………………………………………..Full Article: Source

Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia, reported a 24.3% jump in the net value of its investment portfolio in 2012 to a record 86.9 billion Malaysia ringgit ($28.9 billion.) Khazanah noted that its annual gains handily outpaced the 14.1% increase logged by the Malaysian stock market’s Kuala Lumpur Composite Index.
In an annual review released Thursday, Khazanah cited its property development investments in Malaysia’s southern-most state of Johor Bahru, bordering Singapore, as well as initial public offerings by portfolio companies IHH Healthcare Berhad and cable-TV network Astro Malaysia Holdings Berhad, as factors contributing to its annual gains………………………………………Full Article: Source