Opalesque Sovereign Wealth Funds Briefing http://www.opalesque.com/SWF_Briefing Thu, 25 Aug 2016 01:16:56 +0000 http://wordpress.org/?v=2.5.1 en Norway’s sovereign wealth fund supports proposed spin-off in Svenska Cellulosa http://www.opalesque.com/SWF_Briefing/?p=20508 http://www.opalesque.com/SWF_Briefing/?p=20508#comments Thu, 25 Aug 2016 01:16:56 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20508 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20508>Article Link</a> Based upon the terms and conditions in Svenska Cellulosa’s statement and our expectation of sound corporate governance practices in delivery of the proposed spin-off, it is our intention to support the proposal when put to shareholder vote at the next Annual General Meeting. Our final approval will be confirmed once we have reviewed all documentation available to shareholders prior to the next Annual General Meeting. (more…)

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Africa’s friends reviewed - A case study of sovereign wealth funds http://www.opalesque.com/SWF_Briefing/?p=20507 http://www.opalesque.com/SWF_Briefing/?p=20507#comments Thu, 25 Aug 2016 01:16:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20507 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20507>Article Link</a> Over the years, Africa has had many friends or those who claim to be friends, but who among these is betting her funds on the continent? It’s one thing to hand out grants and another to bet citizens’ funds in a cause or economy you believe in. Going by sovereign wealth funds, Norway is betting a lot on the African continent. (more…)

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Qatari Sovereign Wealth Fund Buys a Stake in the Empire State Building http://www.opalesque.com/SWF_Briefing/?p=20506 http://www.opalesque.com/SWF_Briefing/?p=20506#comments Thu, 25 Aug 2016 01:16:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20506 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20506>Article Link</a> The fund has announced a U.S. investment push of $35 billion in five years. The owner of the Empire State Building has sold 9.9% of its company to a Qatari sovereign wealth fund. The Empire State Realty Trust announced Qatar Investment Authority’s $622 million acquisition on Tuesday afternoon. (more…)

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Qatar fund invests $622 mln in owner of Empire State Building http://www.opalesque.com/SWF_Briefing/?p=20505 http://www.opalesque.com/SWF_Briefing/?p=20505#comments Thu, 25 Aug 2016 01:16:16 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20505 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20505>Article Link</a> Qatar Investment Authority (QIA), the Gulf state’s investment arm, has invested $622 million in the owner of the Empire State Building in New York. The investment gives QIA a 9.9 percent stake in Empire State Realty Trust (ESRT), a listed New York-based trust which manages a portfolio of office and retail properties in Manhattan and the greater New York metropolitan area, ESRT said in a press statement published on their website on Tuesday. (more…)

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NY State Of Mind: Qatar Wealth Fund Buys Empire State Building Stake http://www.opalesque.com/SWF_Briefing/?p=20504 http://www.opalesque.com/SWF_Briefing/?p=20504#comments Thu, 25 Aug 2016 01:15:55 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20504 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20504>Article Link</a> The sovereign wealth fund Qatar Investment Authority purchased a 9.9% stake in the Empire State Building’s owner, Empire State Realty Trust (ESRT). As Bloomberg’s David Levitt reports, the fund bought 29.6 million newly issued Class A common shares at $21 each, or a $622 million investment. The shares also come with voting interest. (more…)

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Qatar Wealth Fund Buys 9.9% Stake in Empire State Building Owner http://www.opalesque.com/SWF_Briefing/?p=20503 http://www.opalesque.com/SWF_Briefing/?p=20503#comments Wed, 24 Aug 2016 03:25:49 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20503 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20503>Article Link</a> Qatar Investment Authority, the sovereign wealth fund of the Middle Eastern country, bought a 9.9 percent interest in Empire State Realty Trust, owner of New York’s Empire State Building. (more…)

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Qatar’s financial position ‘will remain strong over next decade’ http://www.opalesque.com/SWF_Briefing/?p=20502 http://www.opalesque.com/SWF_Briefing/?p=20502#comments Wed, 24 Aug 2016 03:25:39 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20502 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20502>Article Link</a> Qatar, whose budget will turn back to surplus in 2017, will remain in one of the strongest fiscal positions in the world over the next decade and continue to hold massive financial buffers through its sovereign wealth fund (SWF), according to BMI. “Qatar’s sovereign position will remain one of the strongest in the world,” BMI said, forecasting that the budget surplus is expected to be QR5.3bn in 2017. (more…)

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Libya wealth fund claimant denounces UN-backed govt’s plan http://www.opalesque.com/SWF_Briefing/?p=20501 http://www.opalesque.com/SWF_Briefing/?p=20501#comments Wed, 24 Aug 2016 03:25:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20501 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20501>Article Link</a> A claimant to the chairmanship of Libya’s $67 billion sovereign fund on Monday denounced the appointment by the country’s United Nations-backed government of a panel to run the fund, saying he had not been formally asked to step down. (more…)

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Libyan Investment Authority issue statement regarding the Interim Steering Committee http://www.opalesque.com/SWF_Briefing/?p=20500 http://www.opalesque.com/SWF_Briefing/?p=20500#comments Wed, 24 Aug 2016 03:25:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20500 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20500>Article Link</a> Abdulmagid Breish, Chairman and Chief Executive Officer of the Libyan Investment Authority (LIA), takes note of the purported appointment by the Tobruk-based Board of Trustees of Mr Ali Shamekh as chief executive officer of the Tobruk parallel operation. Mr Breish also takes note of the presentation by Mr Hassan Bouhadi of his resignation as purported chairman of the Tobruk parallel operation. (more…)

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Turkey’s $200 Billion Wealth Fund to Finance Transport Projects http://www.opalesque.com/SWF_Briefing/?p=20499 http://www.opalesque.com/SWF_Briefing/?p=20499#comments Wed, 24 Aug 2016 03:24:49 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20499 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20499>Article Link</a> Turkey’s proposed national wealth fund, which could total as much as $200 billion, will finance projects including airports, seaports, roads and railroads across the country, according to a government minister. (more…)

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China Central Huijin To Name Insurance Executive Bai Tao As General Manager http://www.opalesque.com/SWF_Briefing/?p=20498 http://www.opalesque.com/SWF_Briefing/?p=20498#comments Wed, 24 Aug 2016 03:24:37 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20498 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20498>Article Link</a> China Central Huijin Investment Ltd. is to appoint Bai Tao, a vice president at China Life Insurance Co., Ltd., as its general manager, Caixin Media reported citing people familiar with the matter. Bai Tao, 52, will also become vice general manager at Central Huijin’s parent company, China Investment Corp, in a routine arrangement. (more…)

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Azer Fund sells nearly $50mln to banks http://www.opalesque.com/SWF_Briefing/?p=20497 http://www.opalesque.com/SWF_Briefing/?p=20497#comments Wed, 24 Aug 2016 03:24:23 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20497 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20497>Article Link</a> The State Oil Fund of Azerbaijan (SOFAZ) sold $46 million to 25 banks through an auction held by the Central Bank of Azerbaijan (CBA) Aug. 23, SOFAZ said in a message. (more…)

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U.K. Property Values? They Are Anyone’s Guess http://www.opalesque.com/SWF_Briefing/?p=20496 http://www.opalesque.com/SWF_Briefing/?p=20496#comments Wed, 24 Aug 2016 03:24:07 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20496 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20496>Article Link</a> Most agree commercial real estate is down since Brexit, but estimates differ over how much. Property broker CBRE estimated that property values across the U.K. fell 3.3% in July. Data-firm MSCI Inc. said values fell 2.8%. (more…)

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Turkey: Sovereign Wealth Fund to be fully transparent http://www.opalesque.com/SWF_Briefing/?p=20495 http://www.opalesque.com/SWF_Briefing/?p=20495#comments Tue, 23 Aug 2016 01:26:03 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20495 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20495>Article Link</a> Finance Minister Naci Ağbal said that the Turkish Sovereign Wealth Fund (SWF) was prepared in accordance with the best international practices and it will not be drawn from the current budget. (more…)

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Libya sovereign fund claimant denounces U.N.-backed govt’s management plan http://www.opalesque.com/SWF_Briefing/?p=20494 http://www.opalesque.com/SWF_Briefing/?p=20494#comments Tue, 23 Aug 2016 01:25:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20494 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20494>Article Link</a> A claimant to the chairmanship of Libya’s $67 billion sovereign fund on Monday denounced the appointment by the country’s United Nations-backed government of a panel to run the fund, saying he had not been formally asked to step down. (more…)

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Preserving the UAE’s wealth requires the right balance http://www.opalesque.com/SWF_Briefing/?p=20493 http://www.opalesque.com/SWF_Briefing/?p=20493#comments Tue, 23 Aug 2016 01:25:37 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20493 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20493>Article Link</a> The largest Abu Dhabi sovereign wealth fund, the Abu Dhabi Investment Authority (Adia), recently announced its results with the 20-year average return dropping to 6.5 per cent from 7.4 per cent and the 30-year average dropping to 7.5 per cent from 8.4 per cent the previous year. (more…)

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New Zealand SWF awards factor investing mandates to Northern Trust http://www.opalesque.com/SWF_Briefing/?p=20492 http://www.opalesque.com/SWF_Briefing/?p=20492#comments Tue, 23 Aug 2016 01:25:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20492 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20492>Article Link</a> The New Zealand Superannuation (NZ Super) fund has appointed Northern Trust Asset Management to manage two new factor investing mandates, extending a relationship first established in 2007, the sovereign wealth fund (SWF) announced. (more…)

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1MDB-linked Leonardo DiCaprio pulls out of Hilary Clinton fundraiser http://www.opalesque.com/SWF_Briefing/?p=20491 http://www.opalesque.com/SWF_Briefing/?p=20491#comments Tue, 23 Aug 2016 01:25:09 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20491 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20491>Article Link</a> Leonardo DiCaprio has abruptly dropped out of hosting a US$33,400-per-guest (S$45,200-per-guest) fundraiser lunch for Democratic presidential nominee Hillary Clinton at his Hollywood Hills home — just days before the event scheduled on Tuesday. (more…)

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Will Shahrol be made the 1MDB scapegoat? http://www.opalesque.com/SWF_Briefing/?p=20490 http://www.opalesque.com/SWF_Briefing/?p=20490#comments Tue, 23 Aug 2016 01:24:55 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20490 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20490>Article Link</a> Former 1MDB chief executive officer Shahrol Halmi will likely be made the scapegoat in the multi-billion ringgit 1MDB scandal if police restrict their investigations as ordered by the cabinet, Petaling Jaya Utara MP Tony Pua says. (more…)

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Former Falcon Chairman and Abu Dhabi Official Arrested in 1MBD Probe-Report http://www.opalesque.com/SWF_Briefing/?p=20489 http://www.opalesque.com/SWF_Briefing/?p=20489#comments Tue, 23 Aug 2016 01:24:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20489 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20489>Article Link</a> The former head of Abu Dhabi’s sovereign wealth fund was arrested in Abu Dhabi as part of a graft investigation into Malaysian state fund 1MDB, according to a report. Meanwhile, an elusive Malaysian at the heart of the probe may have been spotted off Hong Kong. (more…)

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Chinese takeover approach for Liverpool: Report http://www.opalesque.com/SWF_Briefing/?p=20488 http://www.opalesque.com/SWF_Briefing/?p=20488#comments Tue, 23 Aug 2016 01:24:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20488 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20488>Article Link</a> Premier League giants Liverpool are the target of an £800-million (US$1 billion, €924 million) takeover bid backed by the Chinese government, British newspaper the Sunday Times reported. China Everbright, a state-backed financial firm, are leading the bid, backed by the country’s main sovereign wealth fund, the China Investment Corporation (CIC), the paper said. (more…)

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China Sovereign Fund to Pursue Vale Iron Ore Streaming Deal http://www.opalesque.com/SWF_Briefing/?p=20487 http://www.opalesque.com/SWF_Briefing/?p=20487#comments Mon, 22 Aug 2016 01:49:32 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20487 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20487>Article Link</a> China Investment Corp., the $814 billion sovereign fund, is leading a Chinese investor group in talks for a multibillion-dollar iron-ore streaming deal with Brazil’s Vale SA, people familiar with the matter said. (more…)

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CIC may buy Liverpool for $1bn http://www.opalesque.com/SWF_Briefing/?p=20486 http://www.opalesque.com/SWF_Briefing/?p=20486#comments Mon, 22 Aug 2016 01:49:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20486 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20486>Article Link</a> Premier League giants Liverpool are the target of an 800 million pounds ($1 billion, 924 million euros) takeover bid backed by the Chinese government, British newspaper the Sunday Times reported. China Everbright, a state-backed financial firm, are leading the bid, backed by the country’s main sovereign wealth fund, the China Investment Corporation (CIC), the paper said. (more…)

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1MDB linchpin Khadem Al Qubaisi arrested by Abu Dhabi authorities http://www.opalesque.com/SWF_Briefing/?p=20485 http://www.opalesque.com/SWF_Briefing/?p=20485#comments Mon, 22 Aug 2016 01:49:00 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20485 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20485>Article Link</a> Abu Dhabi authorities have arrested Khadem Al Qubaisi, who authorities say is a key figure in an alleged multi-billion-dollar fraud related to a Malaysian sovereign wealth fund. (more…)

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Multiple reshuffles stir up Libyan sovereign wealth fund http://www.opalesque.com/SWF_Briefing/?p=20484 http://www.opalesque.com/SWF_Briefing/?p=20484#comments Mon, 22 Aug 2016 01:48:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20484 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20484>Article Link</a> The Libyan Investment Authority is undergoing drastic changes, as key members resigned last week followed by Libya’s unity government appointing a new management team for the country’s main sovereign wealth fund Monday. The Presidency Council of the Tripoli-based Government of National Accord on Monday appointed a steering committee to temporarily assume the leadership of the LIA, Libya’s largest state fund worth approximately $67 billion. (more…)

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Why Nigerian state governments must establish sovereign wealth funds http://www.opalesque.com/SWF_Briefing/?p=20483 http://www.opalesque.com/SWF_Briefing/?p=20483#comments Mon, 22 Aug 2016 01:48:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20483 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20483>Article Link</a> Successive Nigerian governments failed to save or invest a part of their earnings. No individual or government that spends all their income during times of plenty should expect everything to be well in times of famine. (more…)

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Kazakhstan woos investors with stakes in national assets http://www.opalesque.com/SWF_Briefing/?p=20482 http://www.opalesque.com/SWF_Briefing/?p=20482#comments Mon, 22 Aug 2016 01:48:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20482 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20482>Article Link</a> Kazakhstan is looking to attract Singaporean investors with stakes up for grabs in seven of its core state-owned enterprises. The country’s sovereign wealth fund, Samruk-Kazyna, is managing the privatisation of the companies. Except for Air Astana, where plans are under discussion, it intends to sell up to 25 per cent of each enterprise. (more…)

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Don’t Try to Buy Dollars in Azerbaijan’s Capital http://www.opalesque.com/SWF_Briefing/?p=20481 http://www.opalesque.com/SWF_Briefing/?p=20481#comments Mon, 22 Aug 2016 01:48:14 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20481 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20481>Article Link</a> Dollar sales in the Azeri capital have all but seized up as demand from households still reeling after two devaluations last year leaves most banks running on empty, with the manat plunging the most globally against the U.S. currency on Friday. The sovereign wealth fund known as Sofaz offers only $50 million in auctions held twice a week, which hasn’t been enough to supply banks. (more…)

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SOFAZ reveals income from largest oil project http://www.opalesque.com/SWF_Briefing/?p=20480 http://www.opalesque.com/SWF_Briefing/?p=20480#comments Fri, 19 Aug 2016 03:44:42 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20480 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20480>Article Link</a> Revenues of Azerbaijan’s state oil fund SOFAZ from the project on development of the Azeri-Chirag-Gunashli (ACG) block of oil and gas fields totaled $119.779 billion from early 2001 to August 1, 2016, the Fund told Trend. (more…)

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Norway’s oil fund pares UK property portfolio after Brexit vote http://www.opalesque.com/SWF_Briefing/?p=20479 http://www.opalesque.com/SWF_Briefing/?p=20479#comments Fri, 19 Aug 2016 03:44:15 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20479 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20479>Article Link</a> Norway’s $893-billion sovereign wealth fund cut the value of its UK property portfolio by 5 percent after Britain’s vote to leave the EU, and is concerned at the prospect that Brexit might limit free movement of goods, services and people, it said on Wednesday. (more…)

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Norway’s oil fund fends off Brexit to post positive return http://www.opalesque.com/SWF_Briefing/?p=20478 http://www.opalesque.com/SWF_Briefing/?p=20478#comments Fri, 19 Aug 2016 03:43:58 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20478 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20478>Article Link</a> Norway’s sovereign wealth fund, the world’s biggest, posted a positive return on Wednesday for the second quarter, despite market pressure from Britain’s decision to leave the EU. (more…)

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Norway’s SWF Up Despite 5% UK Real Estate Haircut http://www.opalesque.com/SWF_Briefing/?p=20477 http://www.opalesque.com/SWF_Briefing/?p=20477#comments Fri, 19 Aug 2016 03:43:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20477 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20477>Article Link</a> Norway’s sovereign wealth fund is worth 7,177 billion NOK (US$878 billion). It was up in the second quarter of 2016 by a steady 1.3%, in spite of its real estate holdings in the UK that Norge’s Bank Investment Management’s quarterly report says it reduced by 5 percent as of June 30th. (more…)

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Norway oil fund looks into trimming $520b stock portfolio http://www.opalesque.com/SWF_Briefing/?p=20476 http://www.opalesque.com/SWF_Briefing/?p=20476#comments Fri, 19 Aug 2016 03:43:32 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20476 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20476>Article Link</a> The world’s biggest sovereign wealth fund, long a backstop for global equity markets, is looking into potentially trimming its $520 billion (Dh1.9 trillion) stock portfolio as it tries to buy more properties and even move into infrastructure. (more…)

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Western Powers call Libyans to protect their sovereign fund http://www.opalesque.com/SWF_Briefing/?p=20475 http://www.opalesque.com/SWF_Briefing/?p=20475#comments Fri, 19 Aug 2016 03:43:21 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20475 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20475>Article Link</a> France, Germany, Italy, Spain, Britain and the United States governments called Libyans to back the Presidential Council (PC) of the Government of National Accord (GNA) and to protect and preserve the institutions of Finance and their integrity for the benefit of the country and the Libyan people. (more…)

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Western governments welcome panel to run Libyan wealth fund-Germany http://www.opalesque.com/SWF_Briefing/?p=20474 http://www.opalesque.com/SWF_Briefing/?p=20474#comments Fri, 19 Aug 2016 03:43:06 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20474 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20474>Article Link</a> The governments of France, Germany, Italy, Spain, Britain and the United States welcomed the appointment in Libya of an interim panel to run the country’s sovereign wealth fund, Germany’s foreign ministry said on Thursday. (more…)

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Turkey to set up €15mn sovereign wealth fund to support struggling economy http://www.opalesque.com/SWF_Briefing/?p=20473 http://www.opalesque.com/SWF_Briefing/?p=20473#comments Fri, 19 Aug 2016 03:42:53 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20473 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20473>Article Link</a> Turkey will set up a sovereign wealth fund with an initial capital of TRY50mn (€15mn), Economy Minister Namik Zeybekci said on August 17. Ankara will target to raise the fund’s size to $200bn at a later stage, Bloomberg reports. (more…)

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Key Figure in 1MDB Probe Is Arrested in Abu Dhabi http://www.opalesque.com/SWF_Briefing/?p=20472 http://www.opalesque.com/SWF_Briefing/?p=20472#comments Fri, 19 Aug 2016 03:42:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20472 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20472>Article Link</a> Abu Dhabi authorities have arrested Khadem Al Qubaisi, who authorities say is a key figure in an alleged multibillion-dollar fraud related to a Malaysian sovereign-wealth fund, according to people familiar with the matter. (more…)

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Court Papers Link DiCaprio Fund to Malaysia Finance Scandal http://www.opalesque.com/SWF_Briefing/?p=20471 http://www.opalesque.com/SWF_Briefing/?p=20471#comments Fri, 19 Aug 2016 03:42:29 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20471 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20471>Article Link</a> Actor Leonardo DiCaprio’s environmentally focused charitable fund has been caught up in the federal investigation of a massive embezzlement case involving Malaysian sovereign-wealth fund 1MDB, writes The Hollywood Reporter. (more…)

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Temasek sells telco shares to Singtel for $2.47b http://www.opalesque.com/SWF_Briefing/?p=20470 http://www.opalesque.com/SWF_Briefing/?p=20470#comments Fri, 19 Aug 2016 03:42:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20470 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20470>Article Link</a> Singapore investment firm Temasek Holdings has agreed to sell Singtel a 21 per cent stake in Intouch Holdings, the Thai telecoms conglomerate formerly known as Shin Corp. Temasek will also sell its entire 7.4 per cent stake in India’s Bharti Telecom to Singtel. (more…)

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Sovereign Funds Hold Steady on Private Equity Allocation http://www.opalesque.com/SWF_Briefing/?p=20469 http://www.opalesque.com/SWF_Briefing/?p=20469#comments Fri, 19 Aug 2016 03:42:06 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20469 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20469>Article Link</a> Traditionally, public pensions have been a reliant source of capital for private equity deals. However, sovereign wealth funds continue to gain ground in the private equity investor base, as assets steadily grow for the institutional investor class. The total sovereign fund allocation to private equity tepidly increased for the year ended June 30, 2016, for a number of reasons. (more…)

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Norway’s sovereign fund cuts value of UK property portfolio after Brexit http://www.opalesque.com/SWF_Briefing/?p=20468 http://www.opalesque.com/SWF_Briefing/?p=20468#comments Thu, 18 Aug 2016 01:36:42 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20468 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20468>Article Link</a> World’s largest sovereign fund reduces portfolio value by 5% saying there are question marks as to what EU vote means. Norway’s $893bn (£687bn) sovereign wealth fund has cut the value of its UK property portfolio by 5% after Britain’s vote to leave the EU. (more…)

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Norway Oil Fund Looks Into Trimming $520 Billion Stock Portfolio http://www.opalesque.com/SWF_Briefing/?p=20467 http://www.opalesque.com/SWF_Briefing/?p=20467#comments Thu, 18 Aug 2016 01:36:29 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20467 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20467>Article Link</a> The world’s biggest sovereign wealth fund, long a backstop for global equity markets, is looking into potentially trimming its $520 billion stock portfolio as it tries to buy more properties and even move into infrastructure. (more…)

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Norway’s sovereign wealth fund returns to prodit amid bond gains http://www.opalesque.com/SWF_Briefing/?p=20466 http://www.opalesque.com/SWF_Briefing/?p=20466#comments Thu, 18 Aug 2016 01:36:17 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20466 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20466>Article Link</a> Norway’s US$890 billion (S$1.19 trillion) sovereign wealth fund, the world’s biggest, returned to gains in the second quarter even as it warned low interest rates will put pressure on returns ahead amid rising withdrawals from the government. (more…)

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Norway’s sovereign wealth fund returns 1.3% in quarter http://www.opalesque.com/SWF_Briefing/?p=20465 http://www.opalesque.com/SWF_Briefing/?p=20465#comments Thu, 18 Aug 2016 01:36:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20465 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20465>Article Link</a> Norway’s Government Pension Fund Global, Oslo, returned 1.3% in the three months ended June 30, bolstering total assets by 1.4% to 7.18 trillion Norwegian kroner ($850 billion). In a financial update Wednesday, Norges Bank Investment Management, which runs the assets of the sovereign wealth fund, said the return was equivalent to a gain of 94 billion Norwegian kroner. (more…)

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How Brexit hit a non-EU member http://www.opalesque.com/SWF_Briefing/?p=20464 http://www.opalesque.com/SWF_Briefing/?p=20464#comments Thu, 18 Aug 2016 01:35:52 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20464 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20464>Article Link</a> Norway’s giant sovereign wealth fund has adjusted the value of its UK property holdings down 5%, blaming Brexit uncertainty.The wealth fund, the Government Pension Fund Gobal, run by Norges Bank Investment Management, has only a fraction of its £654 billion investments in property — 59.6% is in equities, 37.4% in fixed income and just 3.1% in real estate. (more…)

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Property market fears as wealth fund slashes value of UK portfolio after Brexit http://www.opalesque.com/SWF_Briefing/?p=20463 http://www.opalesque.com/SWF_Briefing/?p=20463#comments Thu, 18 Aug 2016 01:35:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20463 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20463>Article Link</a> The world’s biggest sovereign wealth fund has added to fears over Britain’s property market as it slashed the value of its UK portfolio after the Brexit vote. Norway’s 7.18 trillion kroner (£669 billion) Global Government Pension Fund said it had cut the value of its UK property portfolio by 5% due to ” increased volatility and uncertainty” in the sector. (more…)

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Oslo ruffles feathers as it taps Norway’s oil fund http://www.opalesque.com/SWF_Briefing/?p=20462 http://www.opalesque.com/SWF_Briefing/?p=20462#comments Thu, 18 Aug 2016 01:35:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20462 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20462>Article Link</a> First withdrawal in decades stirs debate over fund’s future and how much level of risk it should take on. This year will prove to be a watershed for the world’s largest sovereign wealth fund as, for the first time in two decades, Norway’s $890bn oil fund will have money taken out by the government in Oslo. (more…)

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Wave of restructuring in oil sector reduces risk of losses on Norway’s $24bln fund http://www.opalesque.com/SWF_Briefing/?p=20461 http://www.opalesque.com/SWF_Briefing/?p=20461#comments Thu, 18 Aug 2016 01:35:07 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20461 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20461>Article Link</a> The worst could be over for investors in Norwegian oil service high yield bonds. After a wave of restructurings in an industry battered by falling crude prices, the risk for losses has now subsided, according to Lars Tronsgaard, who oversees bonds as deputy managing director at Norway’s 199 billion-krone ($24 billion) Folketrygdfondet. (more…)

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Norway’s wealth fund – key points http://www.opalesque.com/SWF_Briefing/?p=20460 http://www.opalesque.com/SWF_Briefing/?p=20460#comments Thu, 18 Aug 2016 01:34:53 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20460 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20460>Article Link</a> Norway’s $890bn oil fund – the world’s largest sovereign wealth fund – eked a 1.3 per cent return in the second quarter, despite market volatility in the wake of the Brexit vote. Here fastFT pulls out some key figures from its second quarter performance. (more…)

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Turkey’s Sovereign Wealth Fund bill approved by Parliament http://www.opalesque.com/SWF_Briefing/?p=20459 http://www.opalesque.com/SWF_Briefing/?p=20459#comments Thu, 18 Aug 2016 01:34:42 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20459 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20459>Article Link</a> Legislation to establish a management company for a Sovereign Wealth Fund (SWF), as well as amendments to various laws, was approved by the Parliamentary Planning and Budget Commission late on Tuesday. (more…)

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Singapore’s fiscal position to be unhurt from GIC’s, Temasek’s low returns http://www.opalesque.com/SWF_Briefing/?p=20458 http://www.opalesque.com/SWF_Briefing/?p=20458#comments Thu, 18 Aug 2016 01:34:26 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20458 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20458>Article Link</a> Conservative spending rules will safeguard it. Despite the lower real returns of state-run investment entities GIC and Temasek Holdings due to exposure to equities, Singapore’s fiscal position is foreseen to endure only a limited impact over the near to medium term. (more…)

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Singtel to buy Temasek stakes in InTouch, Bharti Telecom for S$2.47b http://www.opalesque.com/SWF_Briefing/?p=20457 http://www.opalesque.com/SWF_Briefing/?p=20457#comments Thu, 18 Aug 2016 01:33:57 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20457 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20457>Article Link</a> Singapore Telecommunications (Singtel) will raise its stakes in Thai telecom company Intouch Holdings and India’s Bharti Telecom for S$2.47 billion in total as part of its strategy to boost exposure to emerging markets. (more…)

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Zaid files suit for the return of cash allegedly from 1MDB, SRC http://www.opalesque.com/SWF_Briefing/?p=20456 http://www.opalesque.com/SWF_Briefing/?p=20456#comments Thu, 18 Aug 2016 01:33:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20456 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20456>Article Link</a> Former minister in the prime minister’s department Datuk Zaid Ibrahim has filed a lawsuit against Datuk Seri Najib Razak and three others to recover the US$731 million (RM2.6 billion) and RM42 million allegedly banked into the prime minister’s accounts. (more…)

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World’s Biggest Wealth Fund Struggles With Market Pay Off http://www.opalesque.com/SWF_Briefing/?p=20455 http://www.opalesque.com/SWF_Briefing/?p=20455#comments Wed, 17 Aug 2016 02:11:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20455 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20455>Article Link</a> Norway’s $890 billion sovereign wealth fund, the world’s biggest, may have eked out a gain in second quarter as broad stock and bond indexes rose. The fund, which release its report on Wednesday, has had losses for three of the past four quarters, struggling to navigate market turbulence at the same time as it faces the first-ever withdrawals by the government. (more…)

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Abu Dhabi hires advisers for sovereign fund merger http://www.opalesque.com/SWF_Briefing/?p=20454 http://www.opalesque.com/SWF_Briefing/?p=20454#comments Wed, 17 Aug 2016 02:10:59 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20454 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20454>Article Link</a> Abu Dhabi’s government has hired Bain & Co and Landor Associates to advise on the merger of two of the oil-rich emirate’s biggest sovereign funds, a source familiar with the matter told Reuters. (more…)

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World’s largest sovereign-wealth fund may have hit its limit http://www.opalesque.com/SWF_Briefing/?p=20453 http://www.opalesque.com/SWF_Briefing/?p=20453#comments Wed, 17 Aug 2016 02:10:23 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20453 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20453>Article Link</a> After the Brexit, there has been evidence of large inflows of money into equity markets, and those inflows seem to discount valuation and growth concerns in favor of dividends that are higher than comparable interest attainable from near-term and midterm duration fixed income. (more…)

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How and why is Turkey launching an SWF? http://www.opalesque.com/SWF_Briefing/?p=20452 http://www.opalesque.com/SWF_Briefing/?p=20452#comments Wed, 17 Aug 2016 02:09:30 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20452 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20452>Article Link</a> There are a great number of examples to tell how the July 15 coup attempt will lead to a major transformation in Turkey. I think, however, one of the most important examples is the Sovereign Wealth Fund (SWF), which would not have been launched had Turkey not experienced the July 15 process. (more…)

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Libya’s U.N.-backed government appoints panel to run $67 billion wealth fund http://www.opalesque.com/SWF_Briefing/?p=20451 http://www.opalesque.com/SWF_Briefing/?p=20451#comments Wed, 17 Aug 2016 02:09:18 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20451 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20451>Article Link</a> Libya’s U.N.-backed government said on Monday it was appointing a five-member caretaker committee to run the country’s $67 billion (52.03 billion pounds) sovereign wealth fund. The Government of National Accord (GNA) said in a statement that the committee should not dispose of Libyan Investment Authority (LIA) assets and should protect the fund’s rights and follow all legal cases it is involved in. (more…)

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Libya’s Unity Government Appoints New Wealth Fund Leadership http://www.opalesque.com/SWF_Briefing/?p=20450 http://www.opalesque.com/SWF_Briefing/?p=20450#comments Wed, 17 Aug 2016 02:09:07 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20450 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20450>Article Link</a> Libya’s government appointed a steering committee to head the country’s $60 billion sovereign wealth fund, where rifts have hindered efforts to unite financial institutions in the fractured North African oil exporter. (more…)

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Korea’s VIP draws more invest from Norway’s sovereign fund http://www.opalesque.com/SWF_Briefing/?p=20449 http://www.opalesque.com/SWF_Briefing/?p=20449#comments Wed, 17 Aug 2016 02:08:55 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20449 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20449>Article Link</a> South Korea’s VIP Research& Management Co. came under the spotlight by drawing successive investment from Norway’s sovereign wealth fund, the world’s largest with assets $847.6 billion under management. (more…)

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