Opalesque Sovereign Wealth Funds Briefing http://www.opalesque.com/SWF_Briefing Thu, 26 Mar 2015 03:13:53 +0000 http://wordpress.org/?v=2.5.1 en Norway’s oil fund, TIAA-CREF buy another Washington property http://www.opalesque.com/SWF_Briefing/?p=17165 http://www.opalesque.com/SWF_Briefing/?p=17165#comments Thu, 26 Mar 2015 03:13:53 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17165 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17165>Article Link</a> Norway’s sovereign wealth fund and U.S. financial services group TIAA-CREF have bought a Washington D.C. property in a deal valuing the site at $307 million, the fund said on Wednesday. (more…)

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Will Norway divest from giant Indian firm because of the Amazon? http://www.opalesque.com/SWF_Briefing/?p=17164 http://www.opalesque.com/SWF_Briefing/?p=17164#comments Thu, 26 Mar 2015 03:13:41 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17164 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17164>Article Link</a> In 2010 the Council on Ethics for Norway’s “Government Pension Fund Global” (GPFG) recommended that the GPFG divest its holdings from giant Indian conglomerate Reliance Industries, which last year The Economist magazine described as “India’s biggest private firm (measured by profits).” (more…)

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In Africa, SWFs Seek to Bridge Infrastructure Gap — And Make Money Too http://www.opalesque.com/SWF_Briefing/?p=17163 http://www.opalesque.com/SWF_Briefing/?p=17163#comments Thu, 26 Mar 2015 03:13:29 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17163 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17163>Article Link</a> Across sub-Saharan Africa, sovereign wealth funds are stepping in to provide capital for big infrastructure projects. There are major risks — but the profits could be huge. The town of Bagamoyo, on Tanzania’s sun-drenched Indian Ocean coast, is a quiet seaport with a history of maritime trade. But it could be about to get a lot busier. (more…)

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GIC bids to cash in on hot sector with $900m sell-off http://www.opalesque.com/SWF_Briefing/?p=17162 http://www.opalesque.com/SWF_Briefing/?p=17162#comments Thu, 26 Mar 2015 03:13:15 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17162 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17162>Article Link</a> The Government of Singapore Investment Corporation is undertaking preparations to bring its $900 million Australian industrial and logistics property portfolio to market as it looks to capitalise on the surge in values in the sector. The group is poised to launch a portfolio offering in mid-2015 that could span about 25 properties across Australia, making it the ­nation’s largest direct industrial property portfolio sale. (more…)

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Paladin Energy raises additional $50m from CIC http://www.opalesque.com/SWF_Briefing/?p=17161 http://www.opalesque.com/SWF_Briefing/?p=17161#comments Thu, 26 Mar 2015 03:13:00 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17161 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17161>Article Link</a> Paladin Energy has raised an additional $US50 million by issuing convertible bonds to a unit of sovereign wealth fund China Investment Corporation (CIC). The proceeds will provide the company with additional funding flexibility. (more…)

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Hutch agrees to buy O2, talks to SWFs http://www.opalesque.com/SWF_Briefing/?p=17160 http://www.opalesque.com/SWF_Briefing/?p=17160#comments Thu, 26 Mar 2015 03:12:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17160 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17160>Article Link</a> Li Ka-shing-controlled Hutchison Whampoa has agreed to pay up to £10.25 billion ($15.2 billion) for UK mobile phone firm O2. The deal announced on Wednesday with Spanish parent Telefonica will create the UK’s biggest mobile operator, once O2 is merged with Hutchison 3G UK, and marks Hutchison Whampoa’s largest acquisition ever, as Hong Kong’s richest man Li doubles down on investments in Europe. (more…)

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Radical financial steps for the government: Setup a sovereign wealth fund http://www.opalesque.com/SWF_Briefing/?p=17159 http://www.opalesque.com/SWF_Briefing/?p=17159#comments Thu, 26 Mar 2015 03:12:18 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17159 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17159>Article Link</a> We may have already missed the windfall opportunity from the mining boom to collect a significant amount of wealth, but there’s no time like the present to set up a sovereign wealth fund to benefit future generations such as the one established by Norway. Using proceeds from off-shore oil over 25 years, the fund is now worth more than US$1 trillion. The government is limited what it can take from the fund, so it continues to grow. (more…)

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Do Sovereign Fund Direct Private Investments Deliver Value? http://www.opalesque.com/SWF_Briefing/?p=17158 http://www.opalesque.com/SWF_Briefing/?p=17158#comments Wed, 25 Mar 2015 03:32:26 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17158 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17158>Article Link</a> As sovereign funds boost direct private equity and venture capital investment, new research suggests that they may be missing out on returns. In a recent long-term study, sovereign wealth funds’ and other institutions’ direct investments in venture capital. (more…)

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Sovereign wealth funds: What does it take to succeed? http://www.opalesque.com/SWF_Briefing/?p=17157 http://www.opalesque.com/SWF_Briefing/?p=17157#comments Wed, 25 Mar 2015 03:32:12 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17157 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17157>Article Link</a> Norway’s sovereign wealth fund, the country’s collective bank account now valued at $1 trillion and built from off-shore oil reserves, is often held up as a prime example of how such funds can succeed. The usual rule: make prudent investments, stick to them, be transparent and watch the money grow exponentially. (more…)

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Hutchison to buy UK mobile network O2 for £10.25 billion, “in talks with GIC on investing in enlarged business” http://www.opalesque.com/SWF_Briefing/?p=17156 http://www.opalesque.com/SWF_Briefing/?p=17156#comments Wed, 25 Mar 2015 03:31:59 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17156 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17156>Article Link</a> Billionaire Li Ka-shing’s Hutchison Whampoa Ltd. agreed to acquire Telefonica’s O2 unit in the U.K. for more than £10.25 billion (S$20.80 billion) to create the country’s biggest wireless provider by customers. The price includes an initial sum of £9.25 billion in cash, with the remainder to be paid when certain financial targets are met, Telefonica said Tuesday. (more…)

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CIC Makes Strategic Investment in Uranium Mining Company http://www.opalesque.com/SWF_Briefing/?p=17155 http://www.opalesque.com/SWF_Briefing/?p=17155#comments Wed, 25 Mar 2015 03:31:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17155 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17155>Article Link</a> Currently, China has 27 nuclear reactors under construction. The Asian giant’s nuclear programme possessed 18 GW of nuclear energy capacity in 2014, determined to hit 58 GW by 2020. The demand from China, India and the Middle East are elevating uranium prices, catching up to pre-Fukushima levels. (more…)

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Social security fund reports 139 bln yuan investment yields http://www.opalesque.com/SWF_Briefing/?p=17154 http://www.opalesque.com/SWF_Briefing/?p=17154#comments Wed, 25 Mar 2015 03:31:32 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17154 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17154>Article Link</a> China’s social security fund gained 139 billion yuan (22.7 billion U.S. dollars) from investment in 2014, with an 11.4 percent return on investment, the National Council for Social Security Fund said on Tuesday. The rate of return outperformed the 6.2-percent return rate in 2013. (more…)

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NZ Superfund CIO Whineray on Change and Risk http://www.opalesque.com/SWF_Briefing/?p=17153 http://www.opalesque.com/SWF_Briefing/?p=17153#comments Wed, 25 Mar 2015 03:31:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17153 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17153>Article Link</a> New Zealand Superannuation Fund(NZ Super) was founded in 2001 as a means to help smooth the tax burden associated with rising universal pension costs among the island nation’s generations. Later, it helped pioneer an innovative portfolio management policy to “tilt” toward better prospects within its allocation strategy. With $21.5 billion in assets under management, the fund is viewed as an exemplar of governance and investment acumen among sovereign wealth funds. (more…)

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Sack MAS, Khazanah bosses instead of staff, unions say http://www.opalesque.com/SWF_Briefing/?p=17152 http://www.opalesque.com/SWF_Briefing/?p=17152#comments Wed, 25 Mar 2015 03:31:06 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17152 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17152>Article Link</a> Six worker unions demanded that top officials of Malaysia Airlines (MAS) and owner Khazanah Nasional be removed in place of the 6,000 workers that will be made redundant in the flag carrier’s restructuring. (more…)

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Qatar has big investment plans for India http://www.opalesque.com/SWF_Briefing/?p=17151 http://www.opalesque.com/SWF_Briefing/?p=17151#comments Wed, 25 Mar 2015 03:30:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17151 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17151>Article Link</a> The Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, told TOI on the eve of his summit with Narendra Modi - the Prime Minister’s first with a leader of the Arab world - that his energy-rich country wanted to invest big in India. “I know that the new government is taking a number of initiatives, especially in business and investment, which is very interesting and encouraging from our point of view. We trust the Indian economy. So we will invest in India.” (more…)

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Qatar’s QIA to join Swiss travel retailer Dufry in bid for WDF http://www.opalesque.com/SWF_Briefing/?p=17150 http://www.opalesque.com/SWF_Briefing/?p=17150#comments Wed, 25 Mar 2015 03:30:38 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17150 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17150>Article Link</a> Qatar Investment Authority and Swiss travel retailer Dufry are teaming up to bid for Italian travel retailer World Duty Free (WDF), which belongs to the Benetton family, two sources familiar with the matter told Reuters on Monday. “QIA and Dufry have a joint bid for WDF,” said a senior banker in Doha familiar with the matter. (more…)

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Norway’s Sovereign Wealth Fund Holds Lessons For Canada http://www.opalesque.com/SWF_Briefing/?p=17149 http://www.opalesque.com/SWF_Briefing/?p=17149#comments Tue, 24 Mar 2015 01:49:45 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17149 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17149>Article Link</a> In Stavanger, a quaint, seaside city on Norway’s coast, a local newspaper publishes a series called “The Oil Kids” that reports on the lifestyles of wealthy second-generation beneficiaries of Norway’s offshore oil riches. “If you compare to our parents or grandparents which built this country, I think we’re a little bit spoiled,” admits Bjorn Knudsen, whose father worked for a large North Sea oil company. (more…)

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Norway’s Government Pension Fund is on top of the world http://www.opalesque.com/SWF_Briefing/?p=17148 http://www.opalesque.com/SWF_Briefing/?p=17148#comments Tue, 24 Mar 2015 01:49:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17148 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17148>Article Link</a> A glance at the largest sovereign wealth fund – Norway’s Government Pension Fund Global. GPF assets have grown an annualized 20.3% in the 10 years ended Dec. 31. The fund increased its real estate allocation to 2.2% of assets in 2014 and officials say they “will continue to expand the portfolio in the years ahead.” (more…)

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For SWFs, is “Doing Good” Bad for Stakeholders? http://www.opalesque.com/SWF_Briefing/?p=17147 http://www.opalesque.com/SWF_Briefing/?p=17147#comments Tue, 24 Mar 2015 01:49:17 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17147 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17147>Article Link</a> Sovereign wealth funds are increasingly screening their portfolios based on so-called social criteria. Does that hurt returns? Does it change corporate behavior? And does that matter? As sovereign wealth fund assets surge, more investments are being screened for so-called environmental, social and governance (ESG) criteria. Norges Bank Investment Management (NBIM), which oversees Norway’s $861 billion. (more…)

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Norway’s $870bn sovereign fund to invest in Asian real estate http://www.opalesque.com/SWF_Briefing/?p=17146 http://www.opalesque.com/SWF_Briefing/?p=17146#comments Tue, 24 Mar 2015 01:49:06 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17146 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17146>Article Link</a> Norway’s Government Pension Fund Global (GPFG), the world’s biggest sovereign wealth fund, now plans to add Asian properties to its global real estate portfolio. To begin with, the $870bn (£583.5bn, €799.6bn) wealth fund will target commercial real estate in Singapore and Tokyo, according to Karsten Kallevig, head of real estate investments at the Oslo-based fund. (more…)

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Norway sovereign wealth fund eyeing real estate in Tokyo, Singapore http://www.opalesque.com/SWF_Briefing/?p=17145 http://www.opalesque.com/SWF_Briefing/?p=17145#comments Tue, 24 Mar 2015 01:48:56 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17145 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17145>Article Link</a> Norway’s wealth fund is making final preparations for its first Asian real estate investment as it builds a portfolio of properties in the world’s biggest cities. After scouring Asia for investment opportunities, the $870 billion fund, built from Norway’s oil revenue, has narrowed its search to Singapore and Tokyo, said Karsten Kallevig, head of real estate investments at the Oslo-based fund. (more…)

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GIC, Exeter Property Group form European real estate partnership http://www.opalesque.com/SWF_Briefing/?p=17144 http://www.opalesque.com/SWF_Briefing/?p=17144#comments Tue, 24 Mar 2015 01:48:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17144 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17144>Article Link</a> Singapore sovereign wealth fund GIC formed a €300 million ($328 million) real estate partnership with Exeter Property Group, said a joint news release from the fund and real estate manager. Exeter will “acquire and actively manage the assets and implement value-add strategies including development and redevelopment to generate stable, long-term income returns,” the news release said. (more…)

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GIC: Investors Should Unite Against Short Termism http://www.opalesque.com/SWF_Briefing/?p=17143 http://www.opalesque.com/SWF_Briefing/?p=17143#comments Tue, 24 Mar 2015 01:48:33 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17143 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17143>Article Link</a> The CIO of one of the world’s largest asset pools has called on fellow institutional investors to help persuade asset managers of the benefit of extending their horizons. In a paper published last week, GIC CIO Lim Chow Kiat said one of the major issues hampering the multi-billion dollar fund was many asset managers’ focus on short-term liquidity and performance. This stance, he said, was not being challenged enough by many of the world’s largest investors. (more…)

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Brigade, GIC Singapore acquire HUL’s property arm http://www.opalesque.com/SWF_Briefing/?p=17142 http://www.opalesque.com/SWF_Briefing/?p=17142#comments Tue, 24 Mar 2015 01:48:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17142 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17142>Article Link</a> Brigade Group has acquired Brooke Bond Real Estate Pvt Ltd, which has 11.39 hectares of land in Bengaluru, though Brigade Properties, its joint venture with GIC Singapore, for an undisclosed amount. Brooke Bond Real Estate is a subsidiary of consumer goods company Hindustan Unilever Ltd (HUL). (more…)

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GIC-Brigade JV buys site in Bangalore to develop it into IT special economic zone http://www.opalesque.com/SWF_Briefing/?p=17141 http://www.opalesque.com/SWF_Briefing/?p=17141#comments Tue, 24 Mar 2015 01:48:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17141 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17141>Article Link</a> Singapore sovereign wealth fund GIC’s joint venture with Indian property developer Brigade Group has acquired a landmark site in Brookefields, Whitefield in Bangalore and plans to develop it into an IT special economic zone of more than three million square feet. (more…)

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QIA ‘in joint bid for travel retailer’ http://www.opalesque.com/SWF_Briefing/?p=17140 http://www.opalesque.com/SWF_Briefing/?p=17140#comments Tue, 24 Mar 2015 01:47:54 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17140 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17140>Article Link</a> Qatar Investment Authority (QIA) and Swiss travel retailer Dufry are teaming up to bid for Italian travel retailer World Duty Free (WDF), which belongs to the Benetton family, two sources familiar with the matter told Reuters yesterday. (more…)

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Sovereign wealth funds start to leak oil http://www.opalesque.com/SWF_Briefing/?p=17139 http://www.opalesque.com/SWF_Briefing/?p=17139#comments Mon, 23 Mar 2015 02:42:00 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17139 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17139>Article Link</a> Norway’s $850bn oil fund has performed a remarkable impression of the proverbial 800-pound gorilla in the past decade. It snapped up 1.3 per cent of the world’s equity market capitalisation and 0.9 per cent of the fixed income market, as well as dabbling in property, as its assets surged sevenfold. (more…)

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Biggest Wealth Fund Targets Tokyo for Next Real Estate Purchase http://www.opalesque.com/SWF_Briefing/?p=17138 http://www.opalesque.com/SWF_Briefing/?p=17138#comments Mon, 23 Mar 2015 02:41:45 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17138 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17138>Article Link</a> Norway’s sovereign wealth fund is looking at Tokyo or Singapore for its first real estate investment in Asia as the investor expands globally. “That’s where we think we’ll start,” Karsten Kallevig, the chief investment officer of real estate at the Oslo-based fund, said in an interview after a speech in the Norwegian capital. “If we’re really successful there, then maybe we can add a third and a fourth and a fifth city at some point.” (more…)

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No Risk Too Big as Bond Traders Plot Escape From Negative Yields http://www.opalesque.com/SWF_Briefing/?p=17137 http://www.opalesque.com/SWF_Briefing/?p=17137#comments Mon, 23 Mar 2015 02:41:33 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17137 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17137>Article Link</a> In the negative-yield vortex that is the European bond market, investors are discovering just what lengths they’re willing to go to generate returns. Norway’s $870 billion sovereign wealth fund said this month that it added Nigeria and lifted its share of lower-rated company debt to the highest since at least 2006. Allianz SE, Europe’s biggest insurer, is shifting from German bunds to bulk up on mortgages. JPMorgan Asset Management is buying speculative-grade corporate debt to boost returns. (more…)

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GIC chief laments investors’ short-term perspective http://www.opalesque.com/SWF_Briefing/?p=17136 http://www.opalesque.com/SWF_Briefing/?p=17136#comments Mon, 23 Mar 2015 02:41:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17136 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17136>Article Link</a> Asset owners could work together to forge a greater focus on long-term investments, according to the CIO for the Government of Singapore Investment Corporation (GIC). In a new research paper, the sovereign wealth fund’s chief investment officer said he was keen for long-term partnerships with external managers. (more…)

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1MDB: So where did the money go? http://www.opalesque.com/SWF_Briefing/?p=17135 http://www.opalesque.com/SWF_Briefing/?p=17135#comments Mon, 23 Mar 2015 02:41:03 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17135 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17135>Article Link</a> At its annual report launch last week, Bank Negara deputy governor gave a relatively healthy assessment of the country’s economy. So glowing was the report, however, that several members of the audience felt compelled to ask his opinion of 1MDB, the proverbial elephant in the room. (more…)

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Future Fund Names Infrastructure Chief http://www.opalesque.com/SWF_Briefing/?p=17134 http://www.opalesque.com/SWF_Briefing/?p=17134#comments Mon, 23 Mar 2015 02:40:49 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17134 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17134>Article Link</a> Australia’s sovereign wealth fund has promoted an internal candidate to lead its growing infrastructure and timberland portfolio. Wendy Norris, who joined the Future Fund in 2010, has replaced Raphael Arndt at the helm of the $8 billion portfolio, the institution has announced. Arndt was promoted to CIO in September last year. (more…)

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Abu Dhabi’s Invest AD Shifts Funds to Egypt as Stability Returns http://www.opalesque.com/SWF_Briefing/?p=17133 http://www.opalesque.com/SWF_Briefing/?p=17133#comments Mon, 23 Mar 2015 02:40:34 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17133 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17133>Article Link</a> Abu Dhabi asset manager Invest AD, part of Abu Dhabi Investment Council, said it’s boosting investments in Egypt on expectation that the country’s renewed political stability and economic reform will help drive growth. The North African country now accounts for 35 percent of Invest AD’s $50 million Africa equity fund, up from 10 to 15 percent last year, portfolio manager Sherif Salem said in an interview. Nigeria is 5 percent, down from 30 to 35 percent. (more…)

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LIA Board of directors convene first 2015 meeting regarding Libyan investments around the world http://www.opalesque.com/SWF_Briefing/?p=17132 http://www.opalesque.com/SWF_Briefing/?p=17132#comments Fri, 20 Mar 2015 01:46:51 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17132 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17132>Article Link</a> The Board of Directors of the Libyan Investment Authority (LIA) convened their first 2015 meeting in Malta early this week to discuss Libyan investments around the world. The Libyan Investment Authority was established in August 2006 after the Libyan government decided to consolidate six extra-budgetary funds financed by its oil revenues under one sovereign wealth fund. The value of the investment fund is estimated by the LIA at US$ 67 billion. (more…)

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Minerals-Backed SWFs Show Their Mettle as Coal, Copper Prices Plummet http://www.opalesque.com/SWF_Briefing/?p=17131 http://www.opalesque.com/SWF_Briefing/?p=17131#comments Fri, 20 Mar 2015 01:46:39 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17131 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17131>Article Link</a> State-owned investors funded by mineral and metals mining revenue are suffering as prices fall. Fiscal prudence may see them through. As petroleum prices tumble, the world’s attention is focused on those sovereign wealth funds associated with hydrocarbons. (more…)

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NZ Super underlines long-term views amid criticism http://www.opalesque.com/SWF_Briefing/?p=17130 http://www.opalesque.com/SWF_Briefing/?p=17130#comments Fri, 20 Mar 2015 01:46:26 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17130 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17130>Article Link</a> The chief executive of the New Zealand Superannuation Fund, Adrian Orr, has reiterated his ‘unshakeable belief’ in taking a long-term view for investment. It comes after - although not in response to - media criticism of losses the fund suffered in a loan investment to a Portuguese bank. (more…)

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Singapore fund declares big Dollar General stake http://www.opalesque.com/SWF_Briefing/?p=17129 http://www.opalesque.com/SWF_Briefing/?p=17129#comments Fri, 20 Mar 2015 01:45:55 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17129 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17129>Article Link</a> A major global investment firm doesn’t appear too worried about the prospects for Dollar General following its failed bid for rival Family Dollar and the pending retirement of Chairman and CEO Rick Dreiling and CFO David Tehle. GIC Private, the former Government of Singapore Investment Corp., this week declared a 5.0 percent stake in Goodlettsville-based Dollar General. (more…)

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Ghana to use part of $600m sovereign wealth fund to manage shortfall in crude revenue http://www.opalesque.com/SWF_Briefing/?p=17128 http://www.opalesque.com/SWF_Briefing/?p=17128#comments Thu, 19 Mar 2015 02:40:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17128 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17128>Article Link</a> The Minister of Finance, Seth Terkper says the country would use part of its sovereign wealth fund, which has accumulated $600 million to manage current economic challenges brought about by the shortfall in projected oil revenue. Speaking at the opening of the Financing the Future Conference in Accra, Ghana, March 17, 2015, he said the stabilisation fund has accumulated $600 million so far. (more…)

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Imagining the world of Tony Blair, Middle East peace envoy http://www.opalesque.com/SWF_Briefing/?p=17127 http://www.opalesque.com/SWF_Briefing/?p=17127#comments Thu, 19 Mar 2015 02:39:56 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17127 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17127>Article Link</a> The Arab street was in uproar at the shock news of the departure of its favourite peace envoy. Young men and women, holding pictures of Tony Blair, marched through Arab capitals demanding his return. A #bringbackTony Twitter campaign rapidly gathered momentum. (more…)

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Orji: SWF Has ‘Good Year’ Tapping Dollar Investments http://www.opalesque.com/SWF_Briefing/?p=17126 http://www.opalesque.com/SWF_Briefing/?p=17126#comments Thu, 19 Mar 2015 02:39:42 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17126 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17126>Article Link</a> Nigeria’s $1.55 billion sovereign wealth fund (SWF) had a “good year” after weighting its investments toward dollar assets, according to Chief Executive Officer, Mr. Uche Orji. “Our currency position was great as we were very long the dollar,” Bloomberg quoted Orji, a former Goldman Sachs Incorporated banker and head of the Nigerian Sovereign Investment Authority to have said in an interview in Geneva. (more…)

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An alternative home for super http://www.opalesque.com/SWF_Briefing/?p=17125 http://www.opalesque.com/SWF_Briefing/?p=17125#comments Thu, 19 Mar 2015 02:39:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17125 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17125>Article Link</a> Saving for retirement is all about saving for the long term, so it is continually surprising to see the extent to which individual investors and advisers favour short-term, highly liquid assets in their portfolios. Large allocations to equities and cash are typical of self-managed funds and much higher than across the managed funds industry in general. (more…)

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An answer to Fund-Bank domination http://www.opalesque.com/SWF_Briefing/?p=17124 http://www.opalesque.com/SWF_Briefing/?p=17124#comments Thu, 19 Mar 2015 02:39:15 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17124 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17124>Article Link</a> The Asian Infrastructure Bank is gaining support with European countries signing up. Not surprisingly, US is sulking. Is the tide turning on the Asian Infrastructure Investment Bank, the new development bank being pushed by China to help plug Asia’s multi-trillion-dollar infrastructure financing deficit? (more…)

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Norway SWF owns shares in sanctioned Russian banks http://www.opalesque.com/SWF_Briefing/?p=17123 http://www.opalesque.com/SWF_Briefing/?p=17123#comments Thu, 19 Mar 2015 02:39:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17123 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17123>Article Link</a> The Government’s Pension Fund Global, currently worth over 7.000 billion Norwegian kroner (€796 billion), have invested 32.095 million kroner in Russia, mainly in oil- and gas and the banking sector. That is also the two sectors, in addition to the military industrial complex, that are highlighted in the EU and US sanctions regime against Moscow. (more…)

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More than 10,000 people call on Dutch pension fund to divest from fossil fuels http://www.opalesque.com/SWF_Briefing/?p=17122 http://www.opalesque.com/SWF_Briefing/?p=17122#comments Thu, 19 Mar 2015 02:38:51 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17122 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17122>Article Link</a> More than 10,000 people have called on the fifth largest pension fund in the world to divest from oil, coal and gas. Members of the Dutch pension fund ABP handed over a petition to the fund’s managers on Tuesday asking them to remove fossil fuel company holdings from its $360bn (£250bn) portfolio. (more…)

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Kazakhstan, Azerbaijan, Georgia and Turkey to set up joint transport company http://www.opalesque.com/SWF_Briefing/?p=17121 http://www.opalesque.com/SWF_Briefing/?p=17121#comments Thu, 19 Mar 2015 02:38:39 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17121 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17121>Article Link</a> Kazakhstan, Azerbaijan, Georgia and Turkey intend to set up a joint transport company for rail transport as part of TRACECA program, Ambassador of Kazakhstan to Azerbaijan Amangeldy Zhumabayev said. “The countries are currently preparing an agreement on transit transportation,” he said. “It will introduce a single tariff for the transportation of goods and simplify the registration of contracts to suppliers.” (more…)

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Nigeria’s $1.55 bn SWF Has ‘Good Year’ Tapping Into Dollar Investments http://www.opalesque.com/SWF_Briefing/?p=17120 http://www.opalesque.com/SWF_Briefing/?p=17120#comments Wed, 18 Mar 2015 03:40:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17120 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17120>Article Link</a> Nigeria’s $1.55 billion sovereign wealth fund had a “good year” after weighting its investments toward dollar assets, according to Chief Executive Officer Uche Orji. “Our currency position was great as we were very long the dollar,” Orji, a former Goldman Sachs Group Inc. banker and head of the Nigerian Sovereign Investment Authority, said in an interview in Geneva on Monday. “It was the only game in town.” (more…)

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Greece to roll out SWF http://www.opalesque.com/SWF_Briefing/?p=17119 http://www.opalesque.com/SWF_Briefing/?p=17119#comments Wed, 18 Mar 2015 03:40:06 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17119 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17119>Article Link</a> Greece will shortly present a law to turn its privatisation agency into a wealth fund that will use proceeds to finance social welfare policies instead of reducing its public debt, the deputy finance minister said.The move could further strain relations between Prime Minister Alexis Tsipras’ new left-wing government and Greece’s international creditors, who want Athens to use the revenues to cut its huge debtload. (more…)

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Oil fund makes every Norwegian paper millionaires http://www.opalesque.com/SWF_Briefing/?p=17118 http://www.opalesque.com/SWF_Briefing/?p=17118#comments Wed, 18 Mar 2015 03:39:55 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17118 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17118>Article Link</a> The Government Pension Fund Global is now worth more than 7.000 billion kroner (€796 billion). If divided on the 5,2 million Norwegians, each one would have 1,35 million. That is five times the annual net income of a Swede. Despite the crash in oil price recently, the Norwegian sovereign fund returned 10,6 percent on the fund’s equity portfolio in 2014. (more…)

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Norges Bank adds support to movement for ‘three and three’ proxy access in US http://www.opalesque.com/SWF_Briefing/?p=17117 http://www.opalesque.com/SWF_Briefing/?p=17117#comments Wed, 18 Mar 2015 03:39:42 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17117 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17117>Article Link</a> World’s largest sovereign wealth fund joins CalSTRS, BlackRock and ISS in push for proxy access. Norges Bank, which manages Norway’s $900 bn Government Pension Fund, has thrown its support behind a growing movement in favor of proxy access in the US under the so-called three-and-three guidelines, joining other heavyweight investors such as CalSTRS and proxy advisers such as ISS. (more…)

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UN backing fossil fuel divestment campaign http://www.opalesque.com/SWF_Briefing/?p=17116 http://www.opalesque.com/SWF_Briefing/?p=17116#comments Wed, 18 Mar 2015 03:39:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17116 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17116>Article Link</a> In early March, the City of Oslo, capital of Norway, announced that they would be divesting $7 million (£4.7m) worth of coal assets from its pension fund. Norway announced last December that it would begin excluding the most harmful of climate offenders from its $870 billion (£589bn) sovereign wealth fund on a “case-by-case basis”. (more…)

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Kazakhstan, Azerbaijan, Georgia and Turkey to set up joint transport company http://www.opalesque.com/SWF_Briefing/?p=17115 http://www.opalesque.com/SWF_Briefing/?p=17115#comments Wed, 18 Mar 2015 03:39:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17115 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17115>Article Link</a> Kazakhstan, Azerbaijan, Georgia and Turkey intend to set up a joint transport company for rail transport as part of TRACECA program, Ambassador of Kazakhstan to Azerbaijan Amangeldy Zhumabayev said. (more…)

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1MDB support letter as good as guarantee, says DAP http://www.opalesque.com/SWF_Briefing/?p=17114 http://www.opalesque.com/SWF_Briefing/?p=17114#comments Wed, 18 Mar 2015 03:38:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17114 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17114>Article Link</a> Putrajaya’s letter of support to debt-laden 1Malaysia Development Bhd is tantamount to a guarantee on the loans taken by the fund, the DAP said today.Party publicity chief Tony Pua said although all ministers had insisted that the loans guaranteed by the federal government amounted to only RM5.8 billion, the actual figure was more than RM16 billion of the sovereign wealth fund’s RM42 billion debt. (more…)

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Norway fund turns green, exits coal stocks http://www.opalesque.com/SWF_Briefing/?p=17113 http://www.opalesque.com/SWF_Briefing/?p=17113#comments Tue, 17 Mar 2015 03:52:24 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17113 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17113>Article Link</a> The $850-billion Norwegian Government Pension Fund, the world’s largest sovereign wealth fund, has sold off almost all of its holdings of Indian coal and power stocks such as Coal India, Adani Power, GVK Infra and NTPC, Lanco Infratech, CESC and Monnet Ispat, among others, during 2014, citing risks posed to climate, according to the list of sovereign fund’s holdings available with dna said. (more…)

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Norwegian fund dumps Australian coal investments http://www.opalesque.com/SWF_Briefing/?p=17112 http://www.opalesque.com/SWF_Briefing/?p=17112#comments Tue, 17 Mar 2015 03:52:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17112 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17112>Article Link</a> The world’s richest sovereign wealth fund has rid itself of investments in Australian coal companies, highlighting the environmental impact of the production of the commodity. Norges Bank, manager of the $US850 billion Norwegian Government Pension Fund, has outlined the divestment of its interests in 14 coal miners around the world in 2014. (more…)

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Adani, Whitehaven, Peabody sold by Norway http://www.opalesque.com/SWF_Briefing/?p=17111 http://www.opalesque.com/SWF_Briefing/?p=17111#comments Tue, 17 Mar 2015 03:51:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17111 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17111>Article Link</a> Whitehaven Coal, America’s Peabody Energy and China’s Yanzhou Coal Mining are among a slew of coal mining and power companies dumped by Norway’s giant sovereign wealth fund during 2014. The divestments also include India’s Adani Power, which wants to build a giant coal mine in Queensland’s Galilee Basin, and large numbers of coal companies in developing India and Indonesia. (more…)

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Norwegian pension fund asks companies to reveal climate change strategies http://www.opalesque.com/SWF_Briefing/?p=17110 http://www.opalesque.com/SWF_Briefing/?p=17110#comments Tue, 17 Mar 2015 03:51:39 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17110 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17110>Article Link</a> The Norges Bank, manager of Norway’s Government Pension Fund, has called for companies it investment in to test their business strategies against global climate change efforts. According to WWF-Norway, if other funds follow suit it could be the start of the “tipping point” the world needs to stop financing polluting energy sources. (more…)

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Formula 1 owner and Singapore fund weighs Center Parcs deal http://www.opalesque.com/SWF_Briefing/?p=17109 http://www.opalesque.com/SWF_Briefing/?p=17109#comments Tue, 17 Mar 2015 03:51:27 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17109 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17109>Article Link</a> Formula One owner CVC Capital partners and Singapore’s sovereign wealth fund GIC have launched a joint bid of around £2.5bn for leisure group Center Parcs. The pair are one of several parties circling the group after its private equity owner Blackstone said it was considering an ownership overhaul yesterday, including “private or public equity or debt capital markets”. (more…)

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Sovereign wealth a major GCC asset http://www.opalesque.com/SWF_Briefing/?p=17108 http://www.opalesque.com/SWF_Briefing/?p=17108#comments Tue, 17 Mar 2015 03:51:14 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17108 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17108>Article Link</a> Despite the sharp decline in oil prices, especially during the second half of 2014, the GCC countries own huge sovereign wealth. It is remarkable that the wealth of Gulf sovereign wealth funds increased during the course of the year. According to Sovereign Wealth Fund Institute, which monitors sovereign wealth, sovereign wealth funds have registered steady growth during the past few years. (more…)

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Gulf sovereign wealth funds punching above their weight http://www.opalesque.com/SWF_Briefing/?p=17107 http://www.opalesque.com/SWF_Briefing/?p=17107#comments Tue, 17 Mar 2015 03:51:00 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17107 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17107>Article Link</a> According to the Sovereign Wealth Fund (SWF) Institute, GCC-based SWFs have a total of $2.6 trillion (Dh9.54 trillion) in assets — about 37 per cent of total SWF assets worldwide. Close to 80 per cent of SWF assets in GCC states are accounted for by three major players — the Abu Dhabi Investment Authority with $773 billion, foreign holdings at the Saudi Arabia Monetary Authority (SAMA) at $757 billion and the Kuwait Investment Authority with $548 billion. By assets, Adia and Sama are the second and third largest SWFs globally. (more…)

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Wealth funds eye GBP2.5bn Center Parcs http://www.opalesque.com/SWF_Briefing/?p=17106 http://www.opalesque.com/SWF_Briefing/?p=17106#comments Mon, 16 Mar 2015 03:40:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17106 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17106>Article Link</a> Singapore and Abu Dhabi’s sovereign wealth funds are thought to be among a group of institutions considering bidding for the holiday village operator Center Parcs. Blackstone, the American buyout group that has owned Center Parcs since 2006, has invited bids as it looks to offload the business. (more…)

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