Opalesque Sovereign Wealth Funds Briefing http://www.opalesque.com/SWF_Briefing Fri, 25 Jul 2014 01:11:12 +0000 http://wordpress.org/?v=2.5.1 en New Zealand SWF to invest in catastrophe reinsurance http://www.opalesque.com/SWF_Briefing/?p=15647 http://www.opalesque.com/SWF_Briefing/?p=15647#comments Fri, 25 Jul 2014 01:11:12 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15647 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15647>Article Link</a> The New Zealand Super Fund (NZSF) is looking to invest in catastrophe risk insurance due to the sector’s cyclical nature and strong liquidity, according to Pablo Matias Sosa, senior investment strategist at the $22 billion sovereign wealth fund (SWF). (more…)

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Temasek divests New China Life stake in block http://www.opalesque.com/SWF_Briefing/?p=15646 http://www.opalesque.com/SWF_Briefing/?p=15646#comments Fri, 25 Jul 2014 01:10:45 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15646 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15646>Article Link</a> Singapore’s Temasek Holdings sold its stake in New China Life, China’s third largest insurer, on Thursday after launching a 78 million share block trade after the market close. (more…)

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Khazanah denies MAS-AAX merger http://www.opalesque.com/SWF_Briefing/?p=15645 http://www.opalesque.com/SWF_Briefing/?p=15645#comments Fri, 25 Jul 2014 01:10:32 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15645 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15645>Article Link</a> Speculation of Malaysian Airline System Bhd (MAS) being merged with a budget long haul carrier has been dismissed by Khazanah Nasional Bhd, which has a 69.4% stake in the ailing national carrier. (more…)

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Qatari Investment Authority weighs up Sainsbury swoop seven years after walking away from GBP10.6bn bid http://www.opalesque.com/SWF_Briefing/?p=15644 http://www.opalesque.com/SWF_Briefing/?p=15644#comments Fri, 25 Jul 2014 01:10:18 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15644 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15644>Article Link</a> It’s almost seven years since the Qatari Investment Authority walked away from its £10.6bn or £6 a share indicative bid for J Sainsbury, blaming its retreat on credit markets which made raising funding more expensive. It retained a 26 per cent stake and has remained a loyal shareholder. Until now. (more…)

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Abu Dhabi Investment Authority Likely to Acquire State Tower Namsan http://www.opalesque.com/SWF_Briefing/?p=15643 http://www.opalesque.com/SWF_Briefing/?p=15643#comments Fri, 25 Jul 2014 01:09:57 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15643 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15643>Article Link</a> The Abu Dhabi Investment Authority (ADIA), one of the three largest sovereign funds in the world, is emerging as a promising candidate for the acquisition of the State Tower Namsan located in Seoul. (more…)

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Goldman, ADIA Said to Weigh Joining Gavea in Snagged Fleury Deal http://www.opalesque.com/SWF_Briefing/?p=15642 http://www.opalesque.com/SWF_Briefing/?p=15642#comments Fri, 25 Jul 2014 01:09:44 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15642 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15642>Article Link</a> Goldman Sachs Group Inc’s private-equity arm and Abu Dhabi Investment Authority are considering joining Gavea Investimentos Ltda. in a bid for Brazilian medical-services company Fleury SA, people with knowledge of the matter said. (more…)

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Fitch Affirms Mubadala Development Company PJSC at ‘AA’; Outlook Stable http://www.opalesque.com/SWF_Briefing/?p=15641 http://www.opalesque.com/SWF_Briefing/?p=15641#comments Fri, 25 Jul 2014 01:09:32 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15641 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15641>Article Link</a> Fitch Ratings has affirmed Mubadala Development Company PJSC’s (Mubadala) Long-term Issuer Default Rating (IDR), senior unsecured rating at ‘AA’ and Short-term IDR at ‘F1+’. The Outlook on the Long-term IDR is Stable. (more…)

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Norway Fund’s Top Russia Holding Include VTB, GAZ Auto http://www.opalesque.com/SWF_Briefing/?p=15640 http://www.opalesque.com/SWF_Briefing/?p=15640#comments Fri, 25 Jul 2014 01:09:17 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15640 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15640>Article Link</a> Norway’s $890 billion sovereign wealth fund, the world’s biggest, has said it’s reassessing its investments in Russia as the European Union considers expanding sanctions against the country. (more…)

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Norway’s State-Run Investment Fund May Sell $8B Of Russian Assets http://www.opalesque.com/SWF_Briefing/?p=15639 http://www.opalesque.com/SWF_Briefing/?p=15639#comments Fri, 25 Jul 2014 01:09:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15639 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15639>Article Link</a> Norway, whose government-managed investment fund is worth more than $900 billion, is considering selling its Russian-based investments, totaling as much as $8 billion, as the European Union mulls new sanctions against Russia following the downing of Malaysia Airlines Flight MH17 last week. (more…)

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Western Threats Mean Little to Putin http://www.opalesque.com/SWF_Briefing/?p=15638 http://www.opalesque.com/SWF_Briefing/?p=15638#comments Fri, 25 Jul 2014 01:08:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15638 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15638>Article Link</a> Russia has become deeply unpopular, even toxic. Europe and the U.S. are working non-stop on new economic sanctions, the world’s biggest sovereign wealth fund is thinking of cutting its $8 billion Russia investment, and in Holland some people are calling for the deportation of Russian President Vladimir Putin’s daughter. (more…)

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World’s Biggest Wealth Fund Among Reach Energy Investors http://www.opalesque.com/SWF_Briefing/?p=15637 http://www.opalesque.com/SWF_Briefing/?p=15637#comments Thu, 24 Jul 2014 03:28:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15637 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15637>Article Link</a> Malaysia’s Reach Energy Bhd. has attracted investors including Norway’s $890 billion sovereign wealth fund in an initial public offering to fund its acquisitions of oil and gas fields. orges Bank Investment Management, the world’s largest sovereign wealth fund, is among cornerstone buyers in the 750 million-ringgit ($237 million) IPO of Reach Energy, Managing Director Shahul Hamid Mohd Ismail said in a July 21 interview. (more…)

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Norway sovereign fund buys into Reach Energy IPO http://www.opalesque.com/SWF_Briefing/?p=15636 http://www.opalesque.com/SWF_Briefing/?p=15636#comments Thu, 24 Jul 2014 03:28:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15636 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15636>Article Link</a> Malaysia’s Reach Energy Bhd has attracted investors including Norway’s US$890 billion (RM2.82 trillion) sovereign wealth fund in an initial public offering (IPO) to fund its acquisitions of oil and gas fields. (more…)

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World’s biggest wealth fund reviews US$8 billion Russian holdings http://www.opalesque.com/SWF_Briefing/?p=15635 http://www.opalesque.com/SWF_Briefing/?p=15635#comments Thu, 24 Jul 2014 03:27:57 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15635 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15635>Article Link</a> Norway’s US$890 billion (RM2.82 trillion) sovereign wealth fund, the world’s biggest, is reassessing its holdings in Russia as the European Union considers expanding sanctions against the country. Since the July 17 downing of Malaysia Airlines flight MH17 by a missile that the US says was probably supplied by the Russian military, sentiment toward assets based in Russia has soured further. (more…)

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Goldman, Khazanah among investors nearing Huarong deal http://www.opalesque.com/SWF_Briefing/?p=15634 http://www.opalesque.com/SWF_Briefing/?p=15634#comments Thu, 24 Jul 2014 03:27:42 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15634 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15634>Article Link</a> Goldman Sachs and private equity firm Warburg Pincus are among the investors nearing a deal to buy an up to 20% stake in China Huarong Asset Management Ltd for about US$2bil (RM6.25bil), seeking a share in the profitable business of bad loan management in China. (more…)

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Saudi state investment fund to set up new companies http://www.opalesque.com/SWF_Briefing/?p=15633 http://www.opalesque.com/SWF_Briefing/?p=15633#comments Thu, 24 Jul 2014 03:27:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15633 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15633>Article Link</a> Saudi Arabia’s Public Investment Fund (PIF) aims to establish companies in areas including housing, petrochemicals and technology as it expands its investments locally and overseas, Finance Minister Ibrahim al-Assaf said. (more…)

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Kazkommertsbank will buy back shares at $5.2 per GDR http://www.opalesque.com/SWF_Briefing/?p=15632 http://www.opalesque.com/SWF_Briefing/?p=15632#comments Thu, 24 Jul 2014 03:27:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15632 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15632>Article Link</a> Kazkommertsbank offered Samruk-Kazyna and minority shareholders to repurchase 79 million common shares at 475 tenge per share, or $5.2 per GDR (P/B of 1.0x). The buyback will reduce outstanding shares by 10.2%, a half of Samruk-Kazyna’s stake of 21.2%. KKB will spend only T37.6bn on the repurchase, constrained by a clause in the company’s law, which limits buyout expenses to no more than 10% of its book equity (T376.6bn at the end of March 2014). (more…)

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Philippines should divert reserves to form a SWF, says BSP’s Medalla http://www.opalesque.com/SWF_Briefing/?p=15631 http://www.opalesque.com/SWF_Briefing/?p=15631#comments Thu, 24 Jul 2014 03:26:58 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15631 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15631>Article Link</a> The increasing level of political and economic stability in the Philippines means the country’s central bank should move a portion of its reserves into a sovereign wealth fund (SWF) based on a pension-fund model, according to Felipe Medalla, member of the monetary board of the Central Bank of the Philippines (BSP). (more…)

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Taiwan: Central bank turns down sovereign wealth fund idea http://www.opalesque.com/SWF_Briefing/?p=15629 http://www.opalesque.com/SWF_Briefing/?p=15629#comments Wed, 23 Jul 2014 02:29:17 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15629 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15629>Article Link</a> The central bank yesterday rejected suggestions that it use the nation’s foreign-exchange reserves to establish a sovereign wealth fund, saying the two differ in operations and objectives. Local media reported last week that former minister without portfolio Schive Chi had called for the establishment of a sovereign wealth fund to better manage the nation’s forex reserves, raise their profitability and help narrow the nation’s deficit. (more…)

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Assets of Azerbaijani State Oil Fund exceed $37 billion http://www.opalesque.com/SWF_Briefing/?p=15627 http://www.opalesque.com/SWF_Briefing/?p=15627#comments Wed, 23 Jul 2014 02:28:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15627 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15627>Article Link</a> The revenues of the State Oil Fund of Azerbaijan amounted to 6,493.6 million AZN and expenses - 5,163.1 million AZN in the first half of 2014, the fund reported. (more…)

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Kazkommertsbank Plans $205 Million Buyback From State http://www.opalesque.com/SWF_Briefing/?p=15626 http://www.opalesque.com/SWF_Briefing/?p=15626#comments Wed, 23 Jul 2014 02:27:56 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15626 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15626>Article Link</a> Kazkommertsbank, Kazakhstan’s largest lender, plans to spend 37.6 billion tenge ($205 million) on buying back part of a stake acquired by sovereign wealth fund Samruk-Kazyna at the height of the financial crisis. (more…)

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Norges Bank to acquire US office assets worth nearly $1bn http://www.opalesque.com/SWF_Briefing/?p=15625 http://www.opalesque.com/SWF_Briefing/?p=15625#comments Wed, 23 Jul 2014 02:27:42 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15625 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15625>Article Link</a> Norges Bank Investment Management (NBIM), which manages Norway’s sovereign wealth fund, is in talks to buy two office buildings in the US for $915m (€677m), according to sources. The properties in Boston and San Francisco are being bought in joint ventures with US insurer MetLife and TIAA-CREF, respectively. (more…)

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IL&FS Transportation Networks to raise up to $166M via QIP, convertible bonds http://www.opalesque.com/SWF_Briefing/?p=15624 http://www.opalesque.com/SWF_Briefing/?p=15624#comments Wed, 23 Jul 2014 02:27:29 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15624 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15624>Article Link</a> IL&FS Transportation Networks Ltd, a subsidiary of IL&FS that develops and manages toll roads, has received the board approval to raise up to Rs 1,000 crore ($165.9 million) through further issue of equity shares of the company, the company said in a stock market disclosure. It is backed by StanChart IL&FS Asia Infrastructure Growth Fund, Bessemer Venture Partners and Norwegian sovereign wealth fund Government Pension Fund Global. (more…)

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Malaysian Airlines faces bankruptcy or going private http://www.opalesque.com/SWF_Briefing/?p=15623 http://www.opalesque.com/SWF_Briefing/?p=15623#comments Wed, 23 Jul 2014 02:27:16 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15623 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15623>Article Link</a> Malaysian Airline System Bhd., reeling from its second disaster in four months, is likely near the end of its days as a publicly traded company. The company plans to present a revival plan to its state-run parent Khazanah Nasional Bhd. this week, people familiar with the matter said Monday, asking not to be identified because the talks are private. The options range from Khazanah taking Malaysian Air private to bankruptcy, according to one of the people, with both routes involving a delisting. (more…)

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Optimising fortunes of Nigeria’s Sovereign Wealth Fund http://www.opalesque.com/SWF_Briefing/?p=15622 http://www.opalesque.com/SWF_Briefing/?p=15622#comments Wed, 23 Jul 2014 02:27:04 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15622 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15622>Article Link</a> In many parts of the world, Sovereign Wealth Fund (SWF) has become an effective tool to transform the economic landscape and development aspirations of countries, especially those endowed with enormous oil wealth or other commodities. However, in their quest to attain Eldorado, some have succeeded, while a good number have burnt their fingers. (more…)

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Qatar’s stake in Glencore in focus http://www.opalesque.com/SWF_Briefing/?p=15621 http://www.opalesque.com/SWF_Briefing/?p=15621#comments Wed, 23 Jul 2014 02:26:52 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15621 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15621>Article Link</a> A curious stock exchange filing suggesting that Qatar Holding had trimmed its stake in Glencore drew attention to the FTSE 100 commodities giant. The sovereign wealth fund is the biggest shareholder in Glencore and played a key role in its takeover of Xstrata in 2012 when, as the bid target’s second-largest investor, it initially opposed the blockbuster deal. (more…)

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Qatar-backed retailers in war against fake goods http://www.opalesque.com/SWF_Briefing/?p=15620 http://www.opalesque.com/SWF_Briefing/?p=15620#comments Wed, 23 Jul 2014 02:26:38 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15620 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15620>Article Link</a> From Harrods to Louis Vuitton, a number of iconic brands owned or part-owned by Qatar have recently come out in force against the increasing spread of fake goods. Qatar Holding bought Harrods, the Knightsbridge London store, in 2010 for a reported £1.5bn ($2.4bn) from Egyptian businessman Mohamed Al Fayed and has spent around £250m upgrading the legendary retailer. (more…)

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Alaska Permanent Fund hires four Non-U.S. stock managers http://www.opalesque.com/SWF_Briefing/?p=15619 http://www.opalesque.com/SWF_Briefing/?p=15619#comments Wed, 23 Jul 2014 02:26:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15619 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15619>Article Link</a> The APFC has awarded four active Non-U.S. developed markets stock mandates at the conclusion of a several-month search. The mandates are for $100 million each, with a target date of July 25. Selective rebalancing within the Permanent Fund’s stock portfolio will provide the funds for the new mandates, and no managers will be terminated. (more…)

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BRICS Bank Is Mostly a Jointly Managed Sovereign Wealth Fund http://www.opalesque.com/SWF_Briefing/?p=15618 http://www.opalesque.com/SWF_Briefing/?p=15618#comments Tue, 22 Jul 2014 03:48:45 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15618 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15618>Article Link</a> Because the credit ratings of Brazil, Russia, South Africa and India are not robust enough to command borrowing on the capital markets at relatively low rates, and it is only China’s economy among the BRICS that can currently support massive borrowing on the capital markets to enable relatively low-interest lending, it again points to the BRICS Bank being a SWF-like entity. (more…)

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Azerbaijan’s Oil Fund compensates investment losses from Ukrainian crisis http://www.opalesque.com/SWF_Briefing/?p=15617 http://www.opalesque.com/SWF_Briefing/?p=15617#comments Tue, 22 Jul 2014 03:48:26 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15617 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15617>Article Link</a> The State Oil Fund of Azerbaijan (SOFAZ) has overcome the negative effects of the crisis around Ukraine. SOFAZ reports that in the 1st quarter the Fund had investment losses on shares of Russian companies, relating to the events around the Ukraine and in the 2nd quarter the Fund received revenue of AZN 118.8 million from asset management. (more…)

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SOFAZ transfers 4 883.8 mln manats in January-June 2014 http://www.opalesque.com/SWF_Briefing/?p=15616 http://www.opalesque.com/SWF_Briefing/?p=15616#comments Tue, 22 Jul 2014 03:48:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15616 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15616>Article Link</a> Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-June, 2014 reached 6 493.6 mln. manats, while budget expenditures constituted 5 163.1 mln. manats. (more…)

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Azerbaijan Oil Fund’s assets exceed $37.6 bn and gold assets – 30.1 tons http://www.opalesque.com/SWF_Briefing/?p=15615 http://www.opalesque.com/SWF_Briefing/?p=15615#comments Tue, 22 Jul 2014 03:47:59 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15615 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15615>Article Link</a> The State Oil Fund of Azerbaijan (SOFAZ) announces about growth of its assets by 4.86% in the first half of 2014. According to the SOFAZ, its assets as of July 1, 2014 has grown by 4.86% compared to the beginning of 2014 ($35.877 bn) and stood at $37.6 bn. (more…)

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Major sovereign wealth fund investors to gather at Dubai event http://www.opalesque.com/SWF_Briefing/?p=15614 http://www.opalesque.com/SWF_Briefing/?p=15614#comments Tue, 22 Jul 2014 03:47:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15614 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15614>Article Link</a> Over 100 institutional investors from around the world, such as sovereign wealth funds, pension funds and family groups, as well as senior management of major companies from the Middle East and Africa, will gather to discuss their growth funding and competitive strategies at an upcoming conference in Dubai. (more…)

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Oman Fund Working To Rescue Bulgaria’s Corpbank http://www.opalesque.com/SWF_Briefing/?p=15613 http://www.opalesque.com/SWF_Briefing/?p=15613#comments Tue, 22 Jul 2014 03:47:33 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15613 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15613>Article Link</a> The Omani sovereign wealth fund is potentially a key player in Bulgaria’s banking crisis because it owns 30 per cent of Corpbank, which it bought in 2009. Bulgarian Finance Minister Petar Chobanov spoke to the head of Oman’s State General Reserve Fund (SGRF) last week about the prospect of it helping out after a planned state bailout of the bank ran into opposition in Bulgaria’s parliament. (more…)

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Malaysia Airlines ‘determined to rebuild trust’ after MH17 disaster http://www.opalesque.com/SWF_Briefing/?p=15612 http://www.opalesque.com/SWF_Briefing/?p=15612#comments Tue, 22 Jul 2014 03:46:32 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15612 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15612>Article Link</a> Malaysia Airlines has pleaded with Australians not to desert it and says the Malaysian government will ensure its long-term future. The carrier has also defended itself after confirming that it diverted a London to Kuala Lumpur flight over Syrian airspace when its usual route over Ukraine was closed in the wake of last week’s shooting down of MH17. (more…)

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Oman SWF mulling Bulgarian bank rescue http://www.opalesque.com/SWF_Briefing/?p=15611 http://www.opalesque.com/SWF_Briefing/?p=15611#comments Mon, 21 Jul 2014 03:22:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15611 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15611>Article Link</a> Bulgarian finance ministry officials held talks on Friday with Oman’s sovereign wealth fund on the chances of recapitalising the fourth-largest Bulgarian bank, CCB, which is on the brink of collapse. (more…)

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Oman fund working to rescue Bulgaria’s Corpbank-source http://www.opalesque.com/SWF_Briefing/?p=15610 http://www.opalesque.com/SWF_Briefing/?p=15610#comments Mon, 21 Jul 2014 03:22:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15610 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15610>Article Link</a> An Omani sovereign wealth fund and other shareholders in Bulgaria’s Corporate Commercial Bank are seeking to stabilise the troubled lender and hope a feasible plan will be put together within three months, a fund source told Reuters on Sunday. (more…)

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Bulgaria speaks to shareholder Oman about Corpbank rescue http://www.opalesque.com/SWF_Briefing/?p=15609 http://www.opalesque.com/SWF_Briefing/?p=15609#comments Mon, 21 Jul 2014 03:22:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15609 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15609>Article Link</a> Bulgaria’s finance minister spoke to the head of Oman’s sovereign wealth fund on Friday about help for Corporate Commercial Bank and said the government now hoped to engineer a private rescue rather than a state bailout of the failing bank. (more…)

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Managing foreign exchange reserve risks; Taiwan to consider SWF? http://www.opalesque.com/SWF_Briefing/?p=15608 http://www.opalesque.com/SWF_Briefing/?p=15608#comments Mon, 21 Jul 2014 03:22:09 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15608 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15608>Article Link</a> Foreign exchange reserves hit a record high of US$423.45 billion in Taiwan in June and also set a new high of US$7.47 trillion in Asia. Seventy percent of the increase in foreign exchange reserves in 2013 were seen in Asia. The government, therefore, has to seriously consider measures to manage Taiwan’s huge foreign exchange reserves. We have previously suggested setting aside a part of the country’s foreign exchange reserves to establish a sovereign wealth fund. (more…)

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Sovereign fund could be answer for Taiwan http://www.opalesque.com/SWF_Briefing/?p=15607 http://www.opalesque.com/SWF_Briefing/?p=15607#comments Mon, 21 Jul 2014 03:21:57 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15607 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15607>Article Link</a> Not so long ago, a third-party investment manager handling government funds caused heavy losses for Taiwan’s Labor Pension and Labor Insurance funds. Now another market trader is suspected of speculating on shares with board members of an over-the-counter listed company, causing the pension fund to lose more than NT$60 million (US$2 million). (more…)

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State Oil Fund seeks insurer and cleaner for its skyscraper in Baku http://www.opalesque.com/SWF_Briefing/?p=15606 http://www.opalesque.com/SWF_Briefing/?p=15606#comments Mon, 21 Jul 2014 03:21:45 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15606 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15606>Article Link</a> The State Oil Fund of Azerbaijan (SOFAZ) is seeking for the insurer and the cleaner for its skyscraper in Baku. The Fund informs that two tender procedures have been announced for this purpose. Both tenders relate to the new SOFAZ administrative building at add: 111A, Heydar Aliyev Avenue, Baku (22 administrative floors, 2 technical floors and underground parking with total area of 35,834 sq m). (more…)

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Government Fund With Majority Malaysia Airlines Stake Considers Taking It Private http://www.opalesque.com/SWF_Briefing/?p=15605 http://www.opalesque.com/SWF_Briefing/?p=15605#comments Mon, 21 Jul 2014 03:21:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15605 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15605>Article Link</a> The government fund that owns a majority stake in Malaysia Airlines is increasingly leaning toward taking the company private, after the carrier lost a second plane in five months, according to people familiar with the matter. (more…)

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Japanese businessmen visit SOFAZ http://www.opalesque.com/SWF_Briefing/?p=15604 http://www.opalesque.com/SWF_Briefing/?p=15604#comments Mon, 21 Jul 2014 03:21:15 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15604 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15604>Article Link</a> A delegation of Japanese businessmen led by head of the Shimada Sonjuku company and President of Chiba University of Commerce Haruo Shimada has visited the State Oil Fund of Azerbaijan Republic (SOFAZ), AzerTag reports. (more…)

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Permal Group’s sovereign advisory head resigns http://www.opalesque.com/SWF_Briefing/?p=15603 http://www.opalesque.com/SWF_Briefing/?p=15603#comments Mon, 21 Jul 2014 03:21:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15603 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15603>Article Link</a> Andrew Rozanov resigned Wednesday as managing director and head of sovereign advisory in the London office of Permal Group, said Alastair Crabbe, a company spokesman, in an e-mail. Rozanov will not be replaced by the hedge funds-of-funds manager, which manages $22 billion. (more…)

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SOFAZ earns enormous profit from ACG, Shah Deniz projects http://www.opalesque.com/SWF_Briefing/?p=15602 http://www.opalesque.com/SWF_Briefing/?p=15602#comments Fri, 18 Jul 2014 03:19:57 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15602 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15602>Article Link</a> Azerbaijan’s state oil fund SOFAZ has gained over $102.8 billion from 2001 to July 1, 2014 by implementing the project of developing the giant Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea. (more…)

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Singapore says no plan to manage pension money separately http://www.opalesque.com/SWF_Briefing/?p=15601 http://www.opalesque.com/SWF_Briefing/?p=15601#comments Fri, 18 Jul 2014 03:19:45 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15601 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15601>Article Link</a> Singapore’s government has clarified that there are no imminent plans for contributions to its Central Provident Fund (CPF) retirement scheme to be managed as a separate investment entity within the city state’s sovereign wealth fund (SWF). (more…)

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Will 1MDB go bust without asset revaluations? http://www.opalesque.com/SWF_Briefing/?p=15600 http://www.opalesque.com/SWF_Briefing/?p=15600#comments Fri, 18 Jul 2014 03:19:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15600 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15600>Article Link</a> The Finance Ministry must explain whether 1Malaysia Development Bhd (1MDB) may go bankrupt or even insolvent if they continue to rely on an Asset Revaluation Gain of RM2.7 billion to record a profit of RM778 million and ignores the rise in total debts to RM42.3 billion that nearly matches its total assets of RM44.7 billion. (more…)

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Abu Dhabi wealth fund eyes local hotel assets http://www.opalesque.com/SWF_Briefing/?p=15599 http://www.opalesque.com/SWF_Briefing/?p=15599#comments Fri, 18 Jul 2014 03:19:07 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15599 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15599>Article Link</a> One of the world’s largest sovereign wealth funds, the Abu Dhabi Investment Authority, could be searching for more property in Australia, according to the head of its hotel investments division. (more…)

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Tanzanian gas failure http://www.opalesque.com/SWF_Briefing/?p=15598 http://www.opalesque.com/SWF_Briefing/?p=15598#comments Fri, 18 Jul 2014 03:18:53 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15598 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15598>Article Link</a> Tanzania will probably miss an October 2015 deadline to present gas laws and legislation on a proposed sovereign wealth fund because of a dispute over the constitution and looming elections, Teneo Intelligence said. (more…)

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Dubai suspends trading in Arabtec shares http://www.opalesque.com/SWF_Briefing/?p=15597 http://www.opalesque.com/SWF_Briefing/?p=15597#comments Fri, 18 Jul 2014 03:18:24 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15597 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15597>Article Link</a> Dubai Financial Market has suspended trading in construction company Arabtec as the country’s regulator beefed up oversight of the company at the centre of the emirate’s rollercoaster ride over the past two months. (more…)

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ECA rises to $4.5bn as FG, States, LGs share N755.9bn in June http://www.opalesque.com/SWF_Briefing/?p=15596 http://www.opalesque.com/SWF_Briefing/?p=15596#comments Fri, 18 Jul 2014 03:18:06 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15596 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15596>Article Link</a> The Federation Accounts Allocation Committee (FAAC) yesterday shared a total distributable revenue amounting to about N755.95 billion among the three tiers of government for June as it emerged that the money, Excess Crude Account (ECA) kept to provide succour in rainy days had increased from about $3.6 billion to about $4.5 billion. (more…)

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Mubadala Petroleum signs Cooperation Agreement with Somalia http://www.opalesque.com/SWF_Briefing/?p=15595 http://www.opalesque.com/SWF_Briefing/?p=15595#comments Fri, 18 Jul 2014 03:17:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15595 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15595>Article Link</a> Mubadala Petroleum has signed a cooperation agreement with the Ministry of Petroleum and Mineral Resources of the Federal Republic of Somalia. Mubadala Petroleum is and upstream oil and gas exploration and production company, a subsidiary of Mubadala Development Company and 100 percent owned by the Government of Abu Dhabi. (more…)

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Bahamian govt in sovereign wealth fund plans http://www.opalesque.com/SWF_Briefing/?p=15594 http://www.opalesque.com/SWF_Briefing/?p=15594#comments Fri, 18 Jul 2014 03:17:27 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15594 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15594>Article Link</a> The Government’s draft oil exploration legislation contains provisions for the creation of a Bahamian sovereign wealth fund, which would receive all due multi-million dollar royalty payments on any ‘black gold’ under this nation’s water.He confirmed that provisions to create a Bahamian sovereign wealth fund, which would be owned and managed by the Government on the Bahamian people’s behalf, were among the legislation being drafted. (more…)

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Russian sovereign wealth fund launches Chinese webpages http://www.opalesque.com/SWF_Briefing/?p=15593 http://www.opalesque.com/SWF_Briefing/?p=15593#comments Thu, 17 Jul 2014 03:28:24 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15593 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15593>Article Link</a> The Russian Direct Investment Fund, a sovereign wealth fund, launched a Chinese version of its “Invest in Russia” information portal Wednesday. The portal is tailored for Chinese users and contains specific data on Sino-Russian economic, trade and investment cooperation. (more…)

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A world without water http://www.opalesque.com/SWF_Briefing/?p=15592 http://www.opalesque.com/SWF_Briefing/?p=15592#comments Thu, 17 Jul 2014 03:28:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15592 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15592>Article Link</a> Norway’s huge $890bn oil fund, the world’s biggest sovereign wealth fund, is one of several large investors urging companies to improve their reporting. It cites what Jan Thomsen, its chief risk officer, has described as “increasing water scarcity and adverse water-related events” that could affect its long-term returns. (more…)

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Qatar’s outward FDI increases to $8.02bn http://www.opalesque.com/SWF_Briefing/?p=15591 http://www.opalesque.com/SWF_Briefing/?p=15591#comments Thu, 17 Jul 2014 03:27:59 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15591 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15591>Article Link</a> Qatar’s outward foreign direct investment (FDI) flow surged to a huge $8.02bn last year, accounting for 14 percent of the country’s gross fixed capital formation or GFCF compared to 3.4 percent a year ago. (more…)

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NSIA gets transparent rating http://www.opalesque.com/SWF_Briefing/?p=15590 http://www.opalesque.com/SWF_Briefing/?p=15590#comments Thu, 17 Jul 2014 03:27:44 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15590 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15590>Article Link</a> The Nigerian Sovereign Investment Authority (NSIA) has received improved rating as sovereign wealth fund (SWF) by Linaburg-Maduell transparency index administered by Sovereign Wealth Institute. In the official statement announcing the second quarter ratings, the Institute singled out NSIA for special mention, stating that the NSIA has been upgraded to nine points out of a possible 10 from a score four in the previous rankings. (more…)

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Qatar Bank Masraf Gives JV Sale Details After Bourse Suspension http://www.opalesque.com/SWF_Briefing/?p=15589 http://www.opalesque.com/SWF_Briefing/?p=15589#comments Thu, 17 Jul 2014 03:27:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15589 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15589>Article Link</a> Qatari lender Masraf Al Rayan offered more detail into the sale of its stake in a real estate joint venture to a state fund on Tuesday, after the country’s stock exchange suspended the bank’s shares for a lack of clarity on the deal. (more…)

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BRICS Making a Bank, RDIF Gets Involved http://www.opalesque.com/SWF_Briefing/?p=15588 http://www.opalesque.com/SWF_Briefing/?p=15588#comments Wed, 16 Jul 2014 04:33:30 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15588 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15588>Article Link</a> The Russian Direct Investment Fund, or RDIF, will create a multi-billion dollar infrastructure investment fund together with sovereign wealth funds from the BRICS group of developing countries. he joint fund will invest in the equity capital of BRICS infrastructure projects, the RDIF said Monday on its website, adding that its international partners had pledged their support to the initiative. If final negotiations are successful, the RDIF said the fund should be active by the next BRICS summit in the Russian city of Ufa in summer 2015. (more…)

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GIC said to have backed out of Tokyo property deal http://www.opalesque.com/SWF_Briefing/?p=15587 http://www.opalesque.com/SWF_Briefing/?p=15587#comments Wed, 16 Jul 2014 04:33:16 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15587 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15587>Article Link</a> Singapore sovereign wealth fund GIC has backed out of buying a Tokyo property from Lone Star Funds due to a legal dispute over the property’s ownership, said people familiar with the transaction. (more…)

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Lone Star reopens Tokyo property deal as GIC talks stall http://www.opalesque.com/SWF_Briefing/?p=15586 http://www.opalesque.com/SWF_Briefing/?p=15586#comments Wed, 16 Jul 2014 04:33:01 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15586 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15586>Article Link</a> Global buyout firm Lone Star Funds is looking for buyers for a complex of buildings in central Tokyo after exclusive talks with Singapore’s sovereign wealth fund GIC Pte Ltd stalled due to a legal dispute over the property’s ownership, according to three people with direct knowledge of the matter. (more…)

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