Opalesque Sovereign Wealth Funds Briefing http://www.opalesque.com/SWF_Briefing Wed, 03 Sep 2014 03:00:05 +0000 http://wordpress.org/?v=2.5.1 en Norway’s Oil Fund, Prologis Buy Property in Madrid, Barcelona http://www.opalesque.com/SWF_Briefing/?p=15854 http://www.opalesque.com/SWF_Briefing/?p=15854#comments Wed, 03 Sep 2014 03:00:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15854 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15854>Article Link</a> Norges Bank Investment Management, which manages the world’s biggest sovereign wealth fund, bought a portfolio of real estate in Madrid and Barcelona through a joint venture with Prologis Inc. (PLD). Prologis European Logistics Partners Sarl bought more than 1.6 million square feet of logistics facilities and development land in the two Spanish cities from SABA Parques Logisticos, Prologis said. (more…)

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Norway’s oil fund buys logistics properties in Spain http://www.opalesque.com/SWF_Briefing/?p=15853 http://www.opalesque.com/SWF_Briefing/?p=15853#comments Wed, 03 Sep 2014 02:59:52 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15853 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15853>Article Link</a> Norway’s sovereign wealth fund has acquired a 50 percent stake in a series of Spanish logistics properties for 242 million euros ($317.6 mln) through its joint venture with Prologis, the fund said on Tuesday. (more…)

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Russia Funnels More Billions Into its Sovereign Wealth Funds http://www.opalesque.com/SWF_Briefing/?p=15852 http://www.opalesque.com/SWF_Briefing/?p=15852#comments Wed, 03 Sep 2014 02:59:38 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15852 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15852>Article Link</a> Russia’s two oil revenue-funded sovereign wealth funds swelled by 353.3 billion rubles ($9.4 billion) last month to reach combined reserves of 6.54 trillion rubles ($177 billion), boosting the state’s financial firepower as the West applies the economic screws on Russia over the Ukraine crisis. (more…)

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Russia Mulls Ring-Fencing SWF from Sanctions http://www.opalesque.com/SWF_Briefing/?p=15851 http://www.opalesque.com/SWF_Briefing/?p=15851#comments Wed, 03 Sep 2014 02:59:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15851 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15851>Article Link</a> The $10 billion Russian Direct Investment Fund (RDIF) could be transferred from state ownership to the country’s central bank to avoid economic sanctions that may be applied over the Ukraine conflict. (more…)

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‘Priority investors’ sell Royal Mail shares http://www.opalesque.com/SWF_Briefing/?p=15850 http://www.opalesque.com/SWF_Briefing/?p=15850#comments Wed, 03 Sep 2014 02:59:06 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15850 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15850>Article Link</a> Many of the “priority investors” in Royal Mail, brought in supposedly to remain long term, stable holders of the privatised service, quietly sold millions of their shares over the summer. The Independent’s analysis of share trading data shows priority firms JPMorgan, Schroders and Abu Dhabi’s sovereign wealth fund also slashed their holdings in recent months. The Kuwait Investment Authority, another sovereign wealth fund, sold more than £8m of shares. It remains a major investor. (more…)

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Focus on Ghana’s handling oil revenue http://www.opalesque.com/SWF_Briefing/?p=15849 http://www.opalesque.com/SWF_Briefing/?p=15849#comments Wed, 03 Sep 2014 02:58:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15849 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15849>Article Link</a> Ghana’s Petroleum Revenue Management Act was passed more than a year after the first oil was pumped from the country’s Jubilee Field. The law outlines clear mechanisms for collecting and distributing petroleum revenue. It specifies what percentage should help fund the annual budget, what should be set aside for future generations and what should be invested for a rainy day. (more…)

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Khazanah’s restructuring hits at right target for MAS http://www.opalesque.com/SWF_Briefing/?p=15848 http://www.opalesque.com/SWF_Briefing/?p=15848#comments Wed, 03 Sep 2014 02:58:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15848 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15848>Article Link</a> Khazanah Nasional’s recovery plan for Malaysia Airlines (MAS) may be the start of the new beginning for the airline, says RHB Research. It said on Tuesday the plan raised key concerns which had always weighed on MAS’ performance while showing the commitment of the related parties to revive the airline. (more…)

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Russia Said to Prepare Transfer of $10 Billion Fund Out of Sanctions’ Reach http://www.opalesque.com/SWF_Briefing/?p=15847 http://www.opalesque.com/SWF_Briefing/?p=15847#comments Tue, 02 Sep 2014 03:47:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15847 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15847>Article Link</a> Russia is preparing to transfer the ownership of a $10 billion sovereign wealth fund to the central bank from a sanctioned state-development lender, according to two people with knowledge of the plan. (more…)

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Putin says spending from Russia’s sovereign fund can’t be raised http://www.opalesque.com/SWF_Briefing/?p=15846 http://www.opalesque.com/SWF_Briefing/?p=15846#comments Tue, 02 Sep 2014 03:46:57 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15846 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15846>Article Link</a> Russia cannot spend more of the $83 billion parked in its National Wealth Fund (NWF), President Vladimir Putin said on Monday, after the government recently raised the cap on how much of the fund can be used for domestic investments. Spending pressure on the government has increased as a result of the Ukraine crisis, which has led several Russian companies to request state finance to compensate for the closure of western capital markets. (more…)

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Future Fund names CIO, mulls staff additions http://www.opalesque.com/SWF_Briefing/?p=15845 http://www.opalesque.com/SWF_Briefing/?p=15845#comments Tue, 02 Sep 2014 03:46:33 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15845 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15845>Article Link</a> Australia’s $94 billion sovereign wealth fund has promoted internally to fill the role of chief investment officer vacated by David Neal when he became managing director on August 4. The Future Fund is also likely to add two investment posts to its 40-strong team in the next few months. (more…)

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Brigade, Singapore’s GIC to invest $248 mln in Indian property sector http://www.opalesque.com/SWF_Briefing/?p=15844 http://www.opalesque.com/SWF_Briefing/?p=15844#comments Tue, 02 Sep 2014 03:46:17 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15844 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15844>Article Link</a> Indian developer Brigade Enterprises and Singapore’s sovereign wealth fund GIC Pte Ltd have agreed to jointly invest 15 billion rupees ($248 million) in residential real estate projects in south India, the companies said. Brigade and GIC will invest in acquiring land and building homes and for mixed-use projects, the companies said in a statement on Monday. (more…)

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GIC joins 2 lead investors to fund North Sea oil firm http://www.opalesque.com/SWF_Briefing/?p=15843 http://www.opalesque.com/SWF_Briefing/?p=15843#comments Tue, 02 Sep 2014 03:45:57 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15843 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15843>Article Link</a> The Republic’s sovereign wealth fund, GIC, is investing in a new North Sea oil-and-gas exploration and production company, Siccar Point Energy Limited. Affiliates of heavyweights - Blue Water Energy and Blackstone Energy Partners - are pumping in an initial investment of up to US$500 million in the new firm, making it one of the largest ever private equity investments in North Sea oil. (more…)

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GIC invests in Siccar Point Energy http://www.opalesque.com/SWF_Briefing/?p=15842 http://www.opalesque.com/SWF_Briefing/?p=15842#comments Tue, 02 Sep 2014 03:45:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15842 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15842>Article Link</a> GIC, the Singapore sovereign wealth fund, is investing in Siccar Point Energy, a new North Sea-focused oil company based in Aberdeen, Scotland. Private equity funds Blue Water Energy and Blackstone Energy Partners are leading the investment of up to US$500 million (S$624 million). Siccar Point plans to participate across the full value chain, from exploration through to production. For a start, it will focus on opportunities in the UK Continental Shelf. (more…)

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Superman, Yoda, change crusader: GIC’s Lim Siong Guan http://www.opalesque.com/SWF_Briefing/?p=15841 http://www.opalesque.com/SWF_Briefing/?p=15841#comments Tue, 02 Sep 2014 03:45:32 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15841 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15841>Article Link</a> He may be the group president of Singapore sovereign wealth fund GIC, but Mr Lim Siong Guan rides the MRT to work. He alights at Raffles Place, then walks about 20 minutes to GIC’s office in Robinson Road for the exercise. If he needs a postage stamp or has any errand of a personal nature, he queues for it himself instead of bothering his secretary. (more…)

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Khazanah unveils Malaysia Airlines’ 12-point restructuring plan http://www.opalesque.com/SWF_Briefing/?p=15840 http://www.opalesque.com/SWF_Briefing/?p=15840#comments Tue, 02 Sep 2014 03:45:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15840 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15840>Article Link</a> Malaysia Airlines majority shareholder, Khazanah Nasional Berhad, has outlined its proposed 12-point restructuring plan aimed at developing a new, profitable, market-driven airline by 2017. The announcement came just a day after Malaysia Airlines posted a second-quarter net loss of MYR305.7million (USD95.1million) exacerbated by the MH17 and MH370 tragedies. (more…)

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Asian titans move outside for specialist investments http://www.opalesque.com/SWF_Briefing/?p=15839 http://www.opalesque.com/SWF_Briefing/?p=15839#comments Tue, 02 Sep 2014 03:45:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15839 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15839>Article Link</a> Growing allocations to alternatives and multiasset strategies have left the sovereign wealth funds and national pension plans that dominate Asia’s institutional investor landscape relying more on external money managers to manage their portfolios. (more…)

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Kuwait Investment Authority: Why we must invest in Morocco? http://www.opalesque.com/SWF_Briefing/?p=15838 http://www.opalesque.com/SWF_Briefing/?p=15838#comments Tue, 02 Sep 2014 03:44:52 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15838 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15838>Article Link</a> The Kuwait Investment Authority is a Kuwaiti sovereign fund manager surpluses Kuwaiti state, primarily related to oil exports. Established in 1953, it remains today one of the 10 largest sovereign wealth fund in the world. ‘All over the 6 countries of the Gulf Cooperation Council’ GCC ‘, there is an objective belief that Morocco is now a single economic power in the Maghreb facing Africa. (more…)

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GIC’s US$104m music bet raises hopes for regional start-ups http://www.opalesque.com/SWF_Briefing/?p=15837 http://www.opalesque.com/SWF_Briefing/?p=15837#comments Mon, 01 Sep 2014 03:48:32 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15837 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15837>Article Link</a> Singapore sovereign wealth fund GIC’s US$104 million investment in Taiwan’s KKBOX has raised hopes about investor appetite for start-ups, and comes as the music streaming industry is becoming a force to be reckoned with. GIC said on Thursday that it had taken an equity investment in KKBOX, a Taiwan music streaming service that claims more than 10 million users in Taiwan, Japan, Hong Kong, Singapore, Malaysia and Thailand. (more…)

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Khazanah denies RM6 billion as bailout in MAS turnaround http://www.opalesque.com/SWF_Briefing/?p=15836 http://www.opalesque.com/SWF_Briefing/?p=15836#comments Mon, 01 Sep 2014 03:48:18 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15836 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15836>Article Link</a> The RM6 billion to be injected into troubled Malaysia Airlines (MAS) is not a bailout, said state national fund Khazanah Nasional Berhad, as it unveiled a massive revamp today to turn the national carrier around. Khazanah managing director Tan Sri Azman Mokhtar said the money can be recovered when the flag carrier is projected to attain profitability by the end of 2017, and when it prepares for relisting between 2018 and 2020. (more…)

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New GPIF investment manager drawn to cheap Japan mid-caps http://www.opalesque.com/SWF_Briefing/?p=15835 http://www.opalesque.com/SWF_Briefing/?p=15835#comments Mon, 01 Sep 2014 03:48:04 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15835 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15835>Article Link</a> A new investment manager responsible for a small chunk of the $1.2 trillion portfolio held by Japan’s giant public pension fund says it expects to buy stocks in midsize companies that appear cheap relative to the broader market and have decades of steady profits. (more…)

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Mumtalakat training push for executives http://www.opalesque.com/SWF_Briefing/?p=15834 http://www.opalesque.com/SWF_Briefing/?p=15834#comments Mon, 01 Sep 2014 03:47:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15834 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15834>Article Link</a> Bahrain Mumtalakat Holding Company (Mumtalakat), the investment arm of Bahrain, has launched the Mumtalakat-INSEAD International Directors Programme, in partnership with international business school INSEAD. It is a corporate governance training initiative for its nominee directors appointed to the boards of its portfolio companies. (more…)

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Kazakhstan inks additional contracts with Russia for imports of fuel and lubricants http://www.opalesque.com/SWF_Briefing/?p=15833 http://www.opalesque.com/SWF_Briefing/?p=15833#comments Mon, 01 Sep 2014 03:47:37 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15833 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15833>Article Link</a> KazMunaiGas Onimderi (KMGO) is taking all necessary measures for a smooth selling of oil products at the filling stations of KazMunaiGas, and to saturate the retail market of fuel and lubricants. (more…)

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World’s Biggest Wealth Fund Says U.S. Corporate Debt Boom Ending http://www.opalesque.com/SWF_Briefing/?p=15832 http://www.opalesque.com/SWF_Briefing/?p=15832#comments Fri, 29 Aug 2014 01:53:01 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15832 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15832>Article Link</a> The head of debt investment at Norway’s $880 billion sovereign wealth fund, the world’s largest, said a rally in U.S. corporate bonds may be coming to an end. (more…)

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Singapore’s GIC reduces stake in Parkson http://www.opalesque.com/SWF_Briefing/?p=15831 http://www.opalesque.com/SWF_Briefing/?p=15831#comments Fri, 29 Aug 2014 01:52:44 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15831 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15831>Article Link</a> Parkson Holdings Bhd announced via Bursa that Singapore’s sovereign wealth fund, GIC Private Ltd, ceased to be a substantial shareholder in the company. GIC sold 5.74 million shares or 0.5% on the open market, leaving it with a 4.57% interest in Parkson. According to Bursa filings, GIC had been continually selling the company’s shares since April. (more…)

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GIC makes huge investment in KKBOX http://www.opalesque.com/SWF_Briefing/?p=15830 http://www.opalesque.com/SWF_Briefing/?p=15830#comments Fri, 29 Aug 2014 01:52:32 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15830 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15830>Article Link</a> The Government of Singapore Investment Corp (GIC) has invested US$104 million in the popular Taiwan-based music streaming service KKBOX Inc. The investment plans to boost KKBOX’s business across Asia, the two sides said. (more…)

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Even at reduced levels, the oil dividend provides a significant fillip to Alaska’s income. http://www.opalesque.com/SWF_Briefing/?p=15829 http://www.opalesque.com/SWF_Briefing/?p=15829#comments Fri, 29 Aug 2014 01:52:21 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15829 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15829>Article Link</a> The Alaska Permanent Fund was founded in 1976 as a basin to hold “at least 25 percent of all mineral lease rentals, royalties, royalty sales proceeds, federal mineral revenue-sharing payments and bonuses received by the state.” Its beneficiaries, according to the state constitution, were to be “Alaska and all present and future generations of Alaskans.” (more…)

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Direct Institutional Investors: Why Sovereign Wealth Funds and Pensions are Important http://www.opalesque.com/SWF_Briefing/?p=15828 http://www.opalesque.com/SWF_Briefing/?p=15828#comments Fri, 29 Aug 2014 01:52:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15828 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15828>Article Link</a> The Sovereign Wealth Fund Institute (SWFI) tracks direct public asset owner investment flows. Public asset owners are becoming bigger players in the capital markets. Increasingly, public asset owners are increasing assets, investing more directly, hiring more internal staff and acquiring more services. Public funds, particularly sovereign wealth funds, have grown enormously over the past decade. (more…)

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GIC invests $130m in music streaming services provider KKBOX http://www.opalesque.com/SWF_Briefing/?p=15827 http://www.opalesque.com/SWF_Briefing/?p=15827#comments Thu, 28 Aug 2014 03:36:49 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15827 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15827>Article Link</a> GIC has invested US$104 million (S$130 million) in KKBOX, a provider of music streaming services in Asia, the two companies said in a joint statement on Wednesday. KKBOX, which was established in 2004 by a group of Taiwanese software programmers, will use the funds to expand overseas and improve its technology and service, said the company’s co-founder and chief executive Chris Lin. (more…)

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SOFAZ, UN Working Group on business and human rights discuss cooperation http://www.opalesque.com/SWF_Briefing/?p=15826 http://www.opalesque.com/SWF_Briefing/?p=15826#comments Thu, 28 Aug 2014 03:36:37 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15826 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15826>Article Link</a> Executive Director of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) Shahmar Movsumov met a delegation of the UN Working Group on business and human rights. During the meeting, Movsumov spoke about management of the fund`s resources, its investing activities and projects financed by SOFAZ. (more…)

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Estimated at $1,930, Alaska PFD big but no record http://www.opalesque.com/SWF_Briefing/?p=15825 http://www.opalesque.com/SWF_Briefing/?p=15825#comments Thu, 28 Aug 2014 03:36:21 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15825 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15825>Article Link</a> The annual Permanent Fund dividend that will be distributed to qualifying Alaskans in a little more than a month is projected to be worth $1,930.49, give or take $100, according to an analysis by Alaska Dispatch News. (more…)

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Khazanah okays MAS plan, awaits Cabinet approval http://www.opalesque.com/SWF_Briefing/?p=15824 http://www.opalesque.com/SWF_Briefing/?p=15824#comments Thu, 28 Aug 2014 03:36:06 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15824 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15824>Article Link</a> State asset manager Khazanah Nasional Bhd has approved the comprehensive restructuring plan for the loss-making Malaysia Airlines that will see up to 6,000 jobs disappear, say sources. The plan will be discussed by the Cabinet, a day after the Khazanah board had a meeting chaired by the sovereign wealth fund’s chairman Prime Minister Datuk Seri Najib Razak. (more…)

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Khazanah prepares to swing axe? http://www.opalesque.com/SWF_Briefing/?p=15823 http://www.opalesque.com/SWF_Briefing/?p=15823#comments Thu, 28 Aug 2014 03:35:45 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15823 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15823>Article Link</a> Malaysia Airlines (MAS) is reported to be considering axing up to 5,000 staff as part of its restructuring under sovereign wealth fund, Khazanah Nasional. This would amount to around a quarter of the carrier’s staff. The carrier is widely considered to be overstaffed, and was struggling well before the twin tragedies of this year. (more…)

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PNG Gas revenue flows http://www.opalesque.com/SWF_Briefing/?p=15822 http://www.opalesque.com/SWF_Briefing/?p=15822#comments Thu, 28 Aug 2014 03:35:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15822 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15822>Article Link</a> A total of 12 shipments of LNG gas have already left PNG shores, raking in almost US$600 million (K1.5 billion) in revenue for all the partners, including the government. Prime Minister Peter O’Neill told Parliament Wednesday,that the country has started the early export of LNG gas and to date 12 shipments have taken place with an estimated US$50 million per shipment. (more…)

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Singapore’s GIC sees tough investment climate in next decade http://www.opalesque.com/SWF_Briefing/?p=15821 http://www.opalesque.com/SWF_Briefing/?p=15821#comments Wed, 27 Aug 2014 04:19:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15821 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15821>Article Link</a> Singapore sovereign wealth fund GIC, which manages more than $100 billion of the city-state’s foreign reserves, warned in its annual report of a tough investment outlook over the next decade as global central banks withdraw ultra-easy monetary policies. According to GIC, prices of all major asset classes have been inflated by the massive stimulus measures, and now face weak future returns. (more…)

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Khazanah okays MAS plan, awaits Cabinet approval http://www.opalesque.com/SWF_Briefing/?p=15820 http://www.opalesque.com/SWF_Briefing/?p=15820#comments Wed, 27 Aug 2014 04:18:56 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15820 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15820>Article Link</a> State asset manager Khazanah Nasional Bhd has approved the comprehensive restructuring plan for the loss-making Malaysia Airlines that will see up to 6,000 jobs disappear, say sources. The plan will be discussed by the Cabinet today, a day after the Khazanah board had a meeting chaired by the sovereign wealth fund’s chairman Prime Minister Datuk Seri Najib Razak. (more…)

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Norway prospers as wealth fund value soars http://www.opalesque.com/SWF_Briefing/?p=15819 http://www.opalesque.com/SWF_Briefing/?p=15819#comments Wed, 27 Aug 2014 04:18:42 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15819 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15819>Article Link</a> Public spending could get a boost in Norway after it was revealed the country’s sovereign wealth fund could reach six trillion kroner ($973 billion), the Norwegian government said on Monday. The Norwegian oil fortune by the end of 2014 is estimated to grow several hundred billion kroner larger than the government predicted in May this year. Dagens Næringsliv reported on Monday the extra revenue is around 500 billion kroner above earlier estimates. (more…)

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Norway’s soaring oil fund gives government more spending power for 2015 http://www.opalesque.com/SWF_Briefing/?p=15818 http://www.opalesque.com/SWF_Briefing/?p=15818#comments Wed, 27 Aug 2014 04:18:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15818 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15818>Article Link</a> Norway’s sovereign wealth fund is growing far faster than expected, potentially leaving the government with more money to spend in next year’s budget, financial daily Dagens Naeringsliv reported on Tuesday. (more…)

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Ho Iat Seng: Consider options ahead of Macau sovereign fund http://www.opalesque.com/SWF_Briefing/?p=15817 http://www.opalesque.com/SWF_Briefing/?p=15817#comments Tue, 26 Aug 2014 03:37:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15817 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15817>Article Link</a> The President of the Legislative Assembly says that before a fund is created other options should be considered, as the first may be too risky. The President of the Legislative Assembly, Ho Iat Seng, said that if the government of Macau decides to create a sovereign wealth fund it must act very carefully, as times are very unstable for investment. (more…)

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Singapore’s GIC in final talks to buy Tokyo building for $2b: Sources http://www.opalesque.com/SWF_Briefing/?p=15816 http://www.opalesque.com/SWF_Briefing/?p=15816#comments Tue, 26 Aug 2014 03:37:37 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15816 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15816>Article Link</a> Singapore’s sovereign wealth fund is in talks to buy a Tokyo office tower for about 170 billion yen (S$2.04 billion), three people with knowledge of the deal said, in what would be Japan’s biggest property transaction since the financial crisis. (more…)

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Corpbank majority owner working with Oman wealth fund on restructuring plan http://www.opalesque.com/SWF_Briefing/?p=15815 http://www.opalesque.com/SWF_Briefing/?p=15815#comments Tue, 26 Aug 2014 03:37:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15815 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15815>Article Link</a> The majority owner of Bulgaria’s troubled Corporate Commercial Bank (Corpbank) said yesterday it was working with Oman’s sovereign wealth fund and other interested investors to restructure the lender. Corpbank’s fate has been in limbo since June, when a run on deposits prompted the central bank to seize control of it and close its operations, sparking the worst banking crisis in the poor Black Sea state since 1990s. (more…)

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Tanzania Sets Up Special Unit to Scrutinise Gas Revenues and Wealth Fund http://www.opalesque.com/SWF_Briefing/?p=15814 http://www.opalesque.com/SWF_Briefing/?p=15814#comments Tue, 26 Aug 2014 03:37:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15814 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15814>Article Link</a> Tanzania’s government is forming a special unit to monitor its natural resource revenues from major gas discoveries that promise to lift the country from poverty and free it from dependency on foreign aid in the coming decades. (more…)

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How Norway has avoided the ‘curse of oil’ http://www.opalesque.com/SWF_Briefing/?p=15813 http://www.opalesque.com/SWF_Briefing/?p=15813#comments Tue, 26 Aug 2014 03:36:54 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15813 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15813>Article Link</a> For while other countries have struck oil and then binged on the revenues, by contrast Norway is continuing to invest its oil and gas money in a giant sovereign wealth fund. The fund, worth about $800bn (£483bn), owns 1% of the entire world’s stocks, and is big enough to make every citizen a millionaire in the country’s currency, the kroner. In effect, it is a giant savings account. (more…)

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Norway Buys Yen Bonds as Local Pension Fund Cuts: Japan Credit http://www.opalesque.com/SWF_Briefing/?p=15812 http://www.opalesque.com/SWF_Briefing/?p=15812#comments Mon, 25 Aug 2014 04:24:18 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15812 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15812>Article Link</a> Norway’s wealth fund, the world’s biggest, is diving into Japanese sovereign bonds, even as Japan’s government retirement fund prepares to cut holdings. The Oslo-based Government Pension Fund Global increased Japanese sovereign allocations 15 percent to 160.8 billion kroner ($26 billion) in June from the end of 2013, its biggest debt holding after U.S. Treasuries, the investor said. (more…)

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China fund buys stake in FieldAware http://www.opalesque.com/SWF_Briefing/?p=15811 http://www.opalesque.com/SWF_Briefing/?p=15811#comments Mon, 25 Aug 2014 04:24:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15811 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15811>Article Link</a> Irish technology start-up FieldAware has secured a multi-million cash injection from the Chinese government. The China Investment Corporation, a sovereign wealth fund with $200bn in reserves, has snapped up a large stake in the Trinity College spin-off. (more…)

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Ho Iat Seng: Consider options ahead of Macau sovereign fund http://www.opalesque.com/SWF_Briefing/?p=15810 http://www.opalesque.com/SWF_Briefing/?p=15810#comments Mon, 25 Aug 2014 04:23:55 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15810 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15810>Article Link</a> The President of the Legislative Assembly says that before a fund is created other options should be considered, as the first may be too risky.The President of the Legislative Assembly, Ho Iat Seng, said that if the government of Macau decides to create a sovereign wealth fund it must act very carefully, as times are very unstable for investment. (more…)

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India: Set up sovereign wealth fund to manage investments in PSUs http://www.opalesque.com/SWF_Briefing/?p=15809 http://www.opalesque.com/SWF_Briefing/?p=15809#comments Mon, 25 Aug 2014 04:23:41 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15809 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15809>Article Link</a> Apex public sector enterprises body SCOPE today suggested setting up a sovereign wealth fund to manage investments in state-owned units. “Globally, many countries have created sovereign wealth fund or sovereign holding structure for their state-owned enterprises for improving governance and deliverability. (more…)

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MAS Urged With Khazanah For Smooth Takeover http://www.opalesque.com/SWF_Briefing/?p=15808 http://www.opalesque.com/SWF_Briefing/?p=15808#comments Mon, 25 Aug 2014 04:23:30 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15808 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15808>Article Link</a> A Member of Parliament (MP) today appeals to Malaysia Airlines’ (MAS) workers especially its employees unions to give their full cooperation to Khazanah Nasional Bhd to ensure the takeover of MAS by Khazanah can proceed smoothly. Anuar Manap, MP of Sekijang, said it was critical for all interested parties in an effort to revive MAS to be in consensus, united and think of one objective – what is the best method to save MAS which is a symbol of national pride. (more…)

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Societe Generale’s Libya case to run to court http://www.opalesque.com/SWF_Briefing/?p=15807 http://www.opalesque.com/SWF_Briefing/?p=15807#comments Mon, 25 Aug 2014 04:23:12 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15807 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15807>Article Link</a> French bank has opted against getting $1.5bn bribery case stemming from Gaddafi days thrown out. Societe Generale has opted to allow a bribery case brought by Libya’s sovereign wealth fund to go to court, having previously indicated that it would attempt to have the case thrown out. (more…)

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Libyan sovereign wealth fund set to sue SocGen in alleged bribery case http://www.opalesque.com/SWF_Briefing/?p=15806 http://www.opalesque.com/SWF_Briefing/?p=15806#comments Mon, 25 Aug 2014 04:23:01 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15806 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15806>Article Link</a> Société Générale has decided against filing a summary judgment application in the UK High Court over its earlier plea to have a bribery-linked lawsuit filed against it by Libya’s sovereign wealth fund to be dismissed. (more…)

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Kuwait’s oil revenues masks inherent weakness http://www.opalesque.com/SWF_Briefing/?p=15805 http://www.opalesque.com/SWF_Briefing/?p=15805#comments Mon, 25 Aug 2014 04:22:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15805 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15805>Article Link</a> The credit rating agency Standard and Poor’s has made the right move in retaining Kuwait’s ratings, namely AA for the long-term and A-1 for short-term with a stable outlook. The assumptions were made on some significant data available with S&P. (more…)

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ORTEL: Create an American sovereign wealth fund http://www.opalesque.com/SWF_Briefing/?p=15804 http://www.opalesque.com/SWF_Briefing/?p=15804#comments Fri, 22 Aug 2014 03:33:00 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15804 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15804>Article Link</a> In America, the cradle of capitalism, we need to have a sovereign wealth fund. Capitalized with at least $1 trillion in the beginning, our fund should be the largest, most forward-looking and most successful one in the world. If run independently (without partisan influence) by credentialed managers who might contribute their service gratis, America’s Sovereign Wealth Fund would produce consistent and outsized rates of return on invested capital. (more…)

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Norway’s gargantuan sovereign wealth fund, by the numbers http://www.opalesque.com/SWF_Briefing/?p=15803 http://www.opalesque.com/SWF_Briefing/?p=15803#comments Fri, 22 Aug 2014 03:32:44 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15803 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15803>Article Link</a> Only 5 million people live in Norway, but thanks to the country’s careful management of its oil wealth, the country runs the largest sovereign wealth fund in the world. Everything about the fund is big. Very big. Reported assets, for example, totaled $890 billion at the end of June—that’s $178,000 for every Norwegian. And the fund holds around 1% of all the stocks and bonds in the world. (more…)

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World’s biggest wealth fund takes focus off emerging markets http://www.opalesque.com/SWF_Briefing/?p=15802 http://www.opalesque.com/SWF_Briefing/?p=15802#comments Fri, 22 Aug 2014 03:32:24 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15802 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15802>Article Link</a> Norway’s €663bn sovereign wealth fund, the world’s largest, is slowing its expansion into emerging markets as it scales back a two-year mission to tap into the fastest growing markets. “We are gradually picking up some new markets but at a less rapid pace than we did at the beginning of the year,” Yngve Slyngstad, the fund’s chief executive officer, said in Oslo. (more…)

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Norway sovereign fund up 3.3% in Q2 http://www.opalesque.com/SWF_Briefing/?p=15801 http://www.opalesque.com/SWF_Briefing/?p=15801#comments Fri, 22 Aug 2014 03:32:07 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15801 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15801>Article Link</a> Norway’s sovereign wealth fund, the world’s largest, returned 192 billion kroner (S$38.79 billion) in the second quarter as energy stocks and emerging markets led a rally amid turmoil in Iraq and Ukraine. The Government Pension Fund Global gained 3.3 per cent in the quarter, the Oslo-based investor said yesterday. The US$880 billion fund’s stock holdings returned 4 per cent and its bonds 2 per cent. Real estate returned 3 per cent. (more…)

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SOFAZ to invest in China’s market http://www.opalesque.com/SWF_Briefing/?p=15800 http://www.opalesque.com/SWF_Briefing/?p=15800#comments Fri, 22 Aug 2014 03:31:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15800 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15800>Article Link</a> Azerbaijan s state oil fund SOFAZ intends to invest in the Chinese market with the government debt securities, SOFAZ told Trend Agency on August 14. China as the second largest economy in the world remains an attractive market for the growing number of foreign investors. Prospects of the Chinese Yuan as an additional investment currency attract considerable interest of various categories of investors, including sovereign wealth funds. (more…)

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Russia Tensions May Hurt Norway Oil Fund Earnings http://www.opalesque.com/SWF_Briefing/?p=15799 http://www.opalesque.com/SWF_Briefing/?p=15799#comments Thu, 21 Aug 2014 03:15:39 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15799 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15799>Article Link</a> The effect on European equities of tensions between Russia and the West could pose a challenge to Norway’s $890 billion sovereign-wealth fund, its chief executive said Wednesday. Yngve Slyngstad also told The Wall Street Journal that the fund has retained its holdings in Russian banks and oil companies despite the tensions, and U.S. and European sanctions against Russia. (more…)

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Norway’s Wealth Fund Gains $31 Billion on Global Stock Surge http://www.opalesque.com/SWF_Briefing/?p=15798 http://www.opalesque.com/SWF_Briefing/?p=15798#comments Thu, 21 Aug 2014 03:15:26 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15798 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15798>Article Link</a> Norway’s sovereign wealth fund, the world’s largest, returned 192 billion kroner ($31 billion) in the second quarter as energy stocks and emerging markets led a rally amid turmoil in Iraq and Ukraine. The Government Pension Fund Global gained 3.3 percent in the quarter, the Oslo-based investor said today. The $880 billion fund’s stock holdings returned 4 percent and its bonds 2 percent. Real estate returned 3 percent. (more…)

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Norway to keep $8.2bn Russian assets – for now http://www.opalesque.com/SWF_Briefing/?p=15797 http://www.opalesque.com/SWF_Briefing/?p=15797#comments Thu, 21 Aug 2014 03:15:13 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15797 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15797>Article Link</a> Norway’s massive sovereign wealth fund yesterday announced that it was likely to hang on to its $8.2bn (£4.93bn) worth of Russian assets des­pite Western sanctions on Moscow. However, the $885bn fund – one of te world’s biggest investors said it did not plan further purchases because of political risk. (more…)

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Norway oil fund to double number of top executives http://www.opalesque.com/SWF_Briefing/?p=15796 http://www.opalesque.com/SWF_Briefing/?p=15796#comments Thu, 21 Aug 2014 03:14:55 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15796 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15796>Article Link</a> Norway’s $885bn oil fund is doubling the number of its senior executives in the latest sign it is restructuring itself to tackle its ever-increasing size and its shifting responsibilities as an investor. Norges Bank Investment Management, the arm of the Norwegian central bank that manages the fund, is creating a number of new positions to help manage its nascent property portfolio, as well as appointing three chief investment officers. (more…)

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Giant Norway Oil Fund Plans Bigger Push into Real Estate http://www.opalesque.com/SWF_Briefing/?p=15795 http://www.opalesque.com/SWF_Briefing/?p=15795#comments Thu, 21 Aug 2014 03:14:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15795 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15795>Article Link</a> Norway’s sovereign wealth fund is shaking up its leadership, doubling the number of top executives to 12 and hiring more staff as it prepares a significant boost to its investments in high-end office and retail properties in cities such as London, Paris, and New York. (more…)

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