Opalesque Sovereign Wealth Funds Briefing http://www.opalesque.com/SWF_Briefing Thu, 02 Jul 2015 02:19:42 +0000 http://wordpress.org/?v=2.5.1 en KazMunaiGas seeks to sell 50 pct of Kashagan stake to SWF http://www.opalesque.com/SWF_Briefing/?p=17778 http://www.opalesque.com/SWF_Briefing/?p=17778#comments Thu, 02 Jul 2015 02:19:42 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17778 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17778>Article Link</a> Kazakh state oil company KazMunaiGas (KMG) said on Wednesday it plans to sell 50 percent of its stake in the Kashagan oilfield to the sovereign wealth fund Samruk-Kazyna and use the proceeds to reduce its debt. (more…)

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Head of State Oil Fund of Azerbaijan remains in Supervisory Board of VTB Bank http://www.opalesque.com/SWF_Briefing/?p=17777 http://www.opalesque.com/SWF_Briefing/?p=17777#comments Thu, 02 Jul 2015 02:19:27 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17777 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17777>Article Link</a> The Executive Director of the State Oil Fund of Azerbaijan (SOFAZ) Shahmar Movsumov was elected to the new Supervisory Board of VTB Bank, where he has been serving as an independent member since June 28, 2013. (more…)

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Norway Oil Fund Asked to Divest Coca-Cola Shares http://www.opalesque.com/SWF_Briefing/?p=17776 http://www.opalesque.com/SWF_Briefing/?p=17776#comments Thu, 02 Jul 2015 02:18:58 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17776 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17776>Article Link</a> Activists from India and Norway are calling on Norway’s Government Pension Fund Global – the world’s largest sovereign wealth fund – to exclude the Coca-Cola company from its investment portfolio because of the company’s irresponsible water management practices in India. The Government Pension Fund Global (the Fund), with a market value of 6,970 billion Norwegian Kroner (US$ 890 billion), has close to US$ 1 billion invested in the Coca-Cola company alone, and also has shares in other Coca-Cola related companies. (more…)

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Japan’s priciest land plot hits 22-yr high even as national prices slip http://www.opalesque.com/SWF_Briefing/?p=17774 http://www.opalesque.com/SWF_Briefing/?p=17774#comments Thu, 02 Jul 2015 02:18:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17774 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17774>Article Link</a> Japan’s priciest plot of land hit a 22-year high even as nationwide prices notched a seven-year slide, widening the divide between major cities and the outlying regions, a government survey showed on Wednesday. Japan’s market is already crowded with large foreign investors such as U.S. buyout firm Blackstone Group and Singapore’s sovereign wealth fund GIC Pte. (more…)

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Korea Sovereign Wealth Fund Plans to Increase Alternative Assets http://www.opalesque.com/SWF_Briefing/?p=17775 http://www.opalesque.com/SWF_Briefing/?p=17775#comments Thu, 02 Jul 2015 02:18:39 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17775 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17775>Article Link</a> South Korea’s $84.7 billion sovereign wealth fund plans to increase investments in real estate, private equity and infrastructure, according to its chairman. Korea Investment Corp. will raise its allocation for alternative investments to 15 percent by year-end from 8 percent currently, and will aim for 50 percent over the next five years, Chairman Ahn Hongchul told reporters in Seoul Wednesday at a seminar celebrating its 10th anniversary. (more…)

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Dubai sovereign wealth fund sees profits surge 62% http://www.opalesque.com/SWF_Briefing/?p=17773 http://www.opalesque.com/SWF_Briefing/?p=17773#comments Thu, 02 Jul 2015 02:18:17 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17773 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17773>Article Link</a> Investment Corporation of Dubai (ICD), the emirate’s sovereign wealth fund has reported increased profits of $7.75 billion (AED28.5 billion) for 2014, up by 62 percent on the previous year. (more…)

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SAMA’s net foreign assets fall 1 to SR2.521 trillion http://www.opalesque.com/SWF_Briefing/?p=17772 http://www.opalesque.com/SWF_Briefing/?p=17772#comments Thu, 02 Jul 2015 02:18:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17772 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17772>Article Link</a> Net foreign assets at Saudi Arabian Monetary Agency fell to SR2.521 trillion (672.2 billion) in May down by 6.6 billion or 1.0 percent from the previous month as the kingdom continued to draw down reserves to cover a budget gap caused by cheap oil. Assets dropped by 8.1 percent from a year earlier to their lowest level since April 2013 central bank data showed. (more…)

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Kuwait parliament approves budget with $27 billion deficit http://www.opalesque.com/SWF_Briefing/?p=17771 http://www.opalesque.com/SWF_Briefing/?p=17771#comments Thu, 02 Jul 2015 02:17:53 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17771 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17771>Article Link</a> Kuwait’s parliament on Wednesday approved a state budget for the current fiscal year that envisages a budget deficit of 8.18 billion dinars ($27.0 billion) - nearly half total spending - because of low oil prices. (more…)

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Sovereign wealth fund buys big in Barangaroo http://www.opalesque.com/SWF_Briefing/?p=17770 http://www.opalesque.com/SWF_Briefing/?p=17770#comments Thu, 02 Jul 2015 02:17:36 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17770 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17770>Article Link</a> One of the world’s largest sovereign wealth funds has acquired an interest in Barangaroo Tower 1 in Sydney. Qatar Investment Authority (QIA) has acquired a 37.5 per cent interest in the A$2 billion International Tower 1 at Barangaroo South in Sydney. (more…)

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SWFs emerge as winners of Airport Commission decision http://www.opalesque.com/SWF_Briefing/?p=17769 http://www.opalesque.com/SWF_Briefing/?p=17769#comments Thu, 02 Jul 2015 02:17:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17769 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17769>Article Link</a> Chinese, Qatari, Canadian and Spanish infrastructure investors are set to become the big winners from the recommendation by Sir Howard Davies to build a new £18 billion runway at Heathrow. (more…)

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Permanent Fund names ‘temporary’ director, boosts her salary http://www.opalesque.com/SWF_Briefing/?p=17768 http://www.opalesque.com/SWF_Briefing/?p=17768#comments Thu, 02 Jul 2015 02:17:13 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17768 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17768>Article Link</a> Valerie Mertz, chief financial officer of the Alaska Permanent Fund Corp., has been named the temporary executive director following the resignation of long-time executive director Mike Burns. Mertz had been filling in for Burns on an interim basis since June 1, but that interim appointment had been scheduled to expire Tuesday. (more…)

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China Investment Weighs German Gas-Station Operator http://www.opalesque.com/SWF_Briefing/?p=17767 http://www.opalesque.com/SWF_Briefing/?p=17767#comments Wed, 01 Jul 2015 01:57:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17767 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17767>Article Link</a> China Investment Corp. is in the running to buy a German highway rest-stop and gasoline-station company that could be valued at about €3 billion, or $3.37 billion, which would be by far the largest Chinese acquisition in Germany, according to people familiar with the matter. The potential bid is the latest sign of the sovereign-wealth fund’s ambitions to boost direct investments in overseas assets. (more…)

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Sovereign wealth funds are likely to be the main driver of growth in alternative assets http://www.opalesque.com/SWF_Briefing/?p=17766 http://www.opalesque.com/SWF_Briefing/?p=17766#comments Wed, 01 Jul 2015 01:57:33 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17766 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17766>Article Link</a> Investments in alternative asset classes will reach $15.3 trillion by 2020, driven by demand from emerging sovereign wealth fund investors, PricewaterhouseCoopers (PwC) has predicted. Its report—“Alternative Asset Management in 2020: Fast Forward to Centre Stage” —said demand for sustainable long-term returns would drive more investors away from mainstream equity and fixed-income investments. (more…)

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SOFAZ reveals revenues from ACG, Shah Deniz fields http://www.opalesque.com/SWF_Briefing/?p=17765 http://www.opalesque.com/SWF_Briefing/?p=17765#comments Wed, 01 Jul 2015 01:57:14 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17765 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17765>Article Link</a> Azerbaijan’s state oil fund SOFAZ has earned $113.33 billion from 2001 to June 1, 2015 by developing the giant Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea. (more…)

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UAE, Saudi sovereign wealth funds among world’s largest http://www.opalesque.com/SWF_Briefing/?p=17764 http://www.opalesque.com/SWF_Briefing/?p=17764#comments Wed, 01 Jul 2015 01:57:00 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17764 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17764>Article Link</a> Sovereign wealth funds (SWF) in the GCC are among the world’s largest, with the United Arab Emirates and Saudi Arabia leading the way in second and third place, respectively, just behind Norway. The Scandinavian country’s Government Pension Fund currently holds the world’s largest sovereign wealth fund with $882 billion in assets, according to SWF Institute’s the latest rankings. (more…)

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Investment Corporation of Dubai profit up 63% on core business growth http://www.opalesque.com/SWF_Briefing/?p=17763 http://www.opalesque.com/SWF_Briefing/?p=17763#comments Wed, 01 Jul 2015 01:56:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17763 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17763>Article Link</a> Investment Corporation of Dubai (ICD) posted a 63 per cent profit increase last year amid growth in its core businesses, a gain from the transfer of Dubai Aluminium’s assets to Emirates Global Aluminium and a partial sale of its equity in the London Stock Exchange. (more…)

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Saudi central bank May net foreign reserves drop 1% to $672bn http://www.opalesque.com/SWF_Briefing/?p=17762 http://www.opalesque.com/SWF_Briefing/?p=17762#comments Wed, 01 Jul 2015 01:56:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17762 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17762>Article Link</a> Assets dropped by 8.1 per cent from a year earlier to their lowest level since April 2013, central bank data showed. Net foreign assets at Saudi Arabia’s central bank fell to SAR 2.521 trillion ($672.2 billion) in May, down by $6.6bn or 1.0 per cent from the previous month as the kingdom continued to draw down reserves to cover a budget gap caused by cheap oil. (more…)

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GIC unit to purchase Chennai land parcel for $86m http://www.opalesque.com/SWF_Briefing/?p=17761 http://www.opalesque.com/SWF_Briefing/?p=17761#comments Wed, 01 Jul 2015 01:56:23 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17761 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17761>Article Link</a> Brigade Properties, a joint venture platform between realtor Brigade Group and Singaporean sovereign wealth fund GIC, will be purchasing a Chennai land parcel from Kansai Nerolac Paints for $86 million. The property is 15.86 acres and located in Perungudi, a Chennai suburb. (more…)

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ENGIE and China Investment Corporation (CIC) Signed MoU http://www.opalesque.com/SWF_Briefing/?p=17760 http://www.opalesque.com/SWF_Briefing/?p=17760#comments Wed, 01 Jul 2015 01:56:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17760 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17760>Article Link</a> On the occasion of Chinese Premier Li Keqiang’s visit to France, Gérard Mestrallet, Chairman and CEO of ENGIE, signed a MOU with Ding Xuedong, Chairman and CEO of China Investment Corporation (CIC) in Paris. Premier Li and French Prime Minister Manuel Valls were present at the signing ceremony. Through their new agreement, ENGIE and CIC reinforce their cooperation in the following areas: (more…)

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Wealth Funds Back More Startups, Locking in Matterport and Proterra http://www.opalesque.com/SWF_Briefing/?p=17759 http://www.opalesque.com/SWF_Briefing/?p=17759#comments Wed, 01 Jul 2015 01:55:57 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17759 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17759>Article Link</a> Mountain View-based Matterport, a company that focuses on virtual reality, raised US$ 30 million in Series C financing from a group of investors. Leading the round was Qualcomm Ventures, a venture unit of Qualcomm Incorporated. Other investors are Singapore’s GIC Private Limited, Lux Capital, DCM Ventures, Felicis Ventures, Greylock Partners, Navitas Capital, AMD Ventures, AME Cloud Ventures, iGlobe Partners, Rothenberg Ventures, Luminari Capital, Sling Media founder Blake Krikorian, and Crate & Barrel founder Gordon Segal. (more…)

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Abu Dhabi Fund Boosts Mining Deals With Trafigura Venture http://www.opalesque.com/SWF_Briefing/?p=17758 http://www.opalesque.com/SWF_Briefing/?p=17758#comments Tue, 30 Jun 2015 02:48:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17758 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17758>Article Link</a> Abu Dhabi-backed investment fund Mubadala Development Co. is buying a 50 percent stake in Trafigura Beheer BV’s Spanish copper business as part of an agreement to create a joint venture to invest in base metals mining. (more…)

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President gazettes wealth fund Statutory Instrument http://www.opalesque.com/SWF_Briefing/?p=17757 http://www.opalesque.com/SWF_Briefing/?p=17757#comments Tue, 30 Jun 2015 02:48:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17757 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17757>Article Link</a> President Mugabe has gazetted a Statutory Instrument that gives effect to the Sovereign Wealth Fund that is expected to go a long way in reserving income from the country’s finite mineral resources for the benefit of future generations. The gazetting of the SI followed the gazetting of the Sovereign Wealth Fund of Zimbabwe Act (SWFZA) in November last year. (more…)

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Chinese Fund Vies for German Gas-Station Operator http://www.opalesque.com/SWF_Briefing/?p=17756 http://www.opalesque.com/SWF_Briefing/?p=17756#comments Tue, 30 Jun 2015 02:48:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17756 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17756>Article Link</a> China Investment Corp. is in the running to buy a German highway rest-stop and gasoline-station company that could be valued at about €3 billion, or $3.35 billion, which would be by far the largest Chinese acquisition in Germany, according to people familiar with the matter. (more…)

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China to transfer $322 billion in pension funds to NSSF http://www.opalesque.com/SWF_Briefing/?p=17755 http://www.opalesque.com/SWF_Briefing/?p=17755#comments Tue, 30 Jun 2015 02:48:07 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17755 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17755>Article Link</a> The Chinese government will reportedly centralise management of about 2 trillion RMB (US$322 billion) in local authority retirement assets under the supplementary pension supervisory body, the National Council for Social Security Fund (NSSF). Reuters cited industry sources as saying that China’s State Council would transfer local pension assets to the NSSF. (more…)

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Brigade-GIC to buy Rs550 cr Chennai plot http://www.opalesque.com/SWF_Briefing/?p=17754 http://www.opalesque.com/SWF_Briefing/?p=17754#comments Tue, 30 Jun 2015 02:47:55 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17754 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17754>Article Link</a> Brigade Properties Pvt. Ltd, a joint venture between Brigade Enterprises Ltd and sovereign wealth fund Government of Singapore Investment Corp. Pte Ltd (GIC), is set to buy a 15.8 acre plot in Chennai’s Perungudi area for Rs.550 crore from Kansai Nerolac Paints Ltd, the companies said on Monday. (more…)

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Temasek participates in Airbnb’s $1.5bn round http://www.opalesque.com/SWF_Briefing/?p=17753 http://www.opalesque.com/SWF_Briefing/?p=17753#comments Tue, 30 Jun 2015 02:47:42 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17753 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17753>Article Link</a> Singapore’s sovereign wealth fund (SWF) Temasek Holdings has participated in home-rental service Airbnb Inc’s latest venture round, in which it raised $1.5 billion from 12 private equity firms. The deal values Airbnb at $25.5 billion, according to the report from the Wall Street Journal. (more…)

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NZ super loses direct head, wins performance kudos http://www.opalesque.com/SWF_Briefing/?p=17752 http://www.opalesque.com/SWF_Briefing/?p=17752#comments Tue, 30 Jun 2015 02:47:24 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17752 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17752>Article Link</a> The New Zealand Superannuation Fund (NZS) is searching for a new head of NZ direct investments following the resignation of incumbent, Michael Gleissner, last week. Gleissner, who joined NZS two years ago, “is leaving to focus on family commitments and consulting activities”, a spokesperson for the almost $30 billion fund said. (more…)

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Canada’s Ivanhoe invests in Chinese warehouses http://www.opalesque.com/SWF_Briefing/?p=17751 http://www.opalesque.com/SWF_Briefing/?p=17751#comments Tue, 30 Jun 2015 02:47:07 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17751 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17751>Article Link</a> The real estate arm of Canada’s second-largest pension fund said on Monday it will invest up to $180 million in Chinese warehouse properties, joining other institutional investors that are seeking to profit from China’s burgeoning e-commerce sector. (more…)

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Swedish investors attack governance record of Norway’s oil fund http://www.opalesque.com/SWF_Briefing/?p=17750 http://www.opalesque.com/SWF_Briefing/?p=17750#comments Mon, 29 Jun 2015 00:25:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17750 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17750>Article Link</a> Norway’s oil fund has come under attack from several of Sweden’s largest investors over concerns that the world’s biggest sovereign wealth fund is not applying rigorous oversight to the companies it invests in. The criticism levelled at Norges Bank Investment Management (NBIM), which manages the oil fund’s $912bn of assets, comes in response to its perceived indifference to one of the biggest financial scandals in Sweden in recent history. (more…)

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China to let NSSF manage $322 billion in local pension funds http://www.opalesque.com/SWF_Briefing/?p=17749 http://www.opalesque.com/SWF_Briefing/?p=17749#comments Mon, 29 Jun 2015 00:25:30 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17749 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17749>Article Link</a> China’s cabinet has approved plans for the manager of the country’s biggest pension fund to manage pension funds worth about 2 trillion yuan ($322 billion) for local authorities, two industry sources with direct knowledge of the matter said. China is trying to strengthen its pension system to meet the huge demographic challenge of an already-shrinking working-age population as it looks to turn the economy into one driven by consumption and services rather than investment and exports. (more…)

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China’s Silk Road infrastructure fund explores investment exit strategies http://www.opalesque.com/SWF_Briefing/?p=17748 http://www.opalesque.com/SWF_Briefing/?p=17748#comments Mon, 29 Jun 2015 00:25:18 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17748 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17748>Article Link</a> China’s US$40 billion Silk Road infrastructure fund will use stock market listings and government transfers as exit strategies for divesting, in order to ensure financial returns from its investments, its chairwoman says. “When we make an investment decision, we will design an exit channel for it,” Jin Qi, the fund’s chief executive, told the Lujiazui Forum in Shanghai yesterday. (more…)

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New Zealand Superannuation Fund Hailed As World’s Top Performing Wealth Fund By JPMorgan http://www.opalesque.com/SWF_Briefing/?p=17747 http://www.opalesque.com/SWF_Briefing/?p=17747#comments Mon, 29 Jun 2015 00:25:06 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17747 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17747>Article Link</a> The New Zealand Superannuation Fund has been hailed as world’s top performing wealth fund by JPMorgan. Having generated returns of more than 17 percent a year, the nearly NZ$30 billion New Zealand Superannuation Fund is ahead of all its global counterparts, which have published figures, according to the analysis published in the Financial Times. New Zealand’s Super Fund was set up in 2001 to pay for the costs of superannuation entitlements of New Zealanders. (more…)

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Qatar Investment Authority may join race for $1bn Barangaroo tower http://www.opalesque.com/SWF_Briefing/?p=17746 http://www.opalesque.com/SWF_Briefing/?p=17746#comments Mon, 29 Jun 2015 00:24:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17746 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17746>Article Link</a> Sydney’s Barangaroo precinct is taking shape as local developers and heavyweight international funds jostle for the last elements of the harbourside urban regeneration project. As Barangaroo South developer Lend Lease and the NSW government last Friday announced the 500th apprentice at the $6 billion office, apartment and leisure precinct, the industry was awash with talk that global real estate trophy-hunter, the Qatar Investment Authority, was targeting the final $1 billion office tower. (more…)

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Alwaleed welcomes wealth fund deal http://www.opalesque.com/SWF_Briefing/?p=17745 http://www.opalesque.com/SWF_Briefing/?p=17745#comments Mon, 29 Jun 2015 00:24:37 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17745 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17745>Article Link</a> A consortium of France’s big companies led by the CDCIC International Capital the International investment arm of Caisse des Depots France’s Sovereign Wealth Fund has announced that they have approved an investment in Kingdom Holding Company (KHC) which is chaired by Prince Alwaleed bin Talal. (more…)

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Sovereign Wealth Funds Active In Hedge Fund Space: Preqin http://www.opalesque.com/SWF_Briefing/?p=17744 http://www.opalesque.com/SWF_Briefing/?p=17744#comments Mon, 29 Jun 2015 00:24:26 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17744 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17744>Article Link</a> Sovereign wealth funds have become increasingly active in the hedge fund space, with a steadily increasing allocation to the asset class, notes Preqin. In its June 2015 Hedge Fund Spotlight report titled: “Sovereign Wealth Funds Investing in Hedge Funds”, Preqin highlights that during stock market volatility, hedge funds offer a favorable alternative in offering uncorrelated returns to traditional markets and opportunities worldwide. (more…)

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Alternative investment growth to boom in next five years http://www.opalesque.com/SWF_Briefing/?p=17743 http://www.opalesque.com/SWF_Briefing/?p=17743#comments Mon, 29 Jun 2015 00:24:14 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17743 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17743>Article Link</a> The alternative investment industry, which includes hedge funds, private equity and real assets, is expected to grow fivefold to at least $13.6 trillion (£8.65 trillion) in the next half decade, professional services firm PwC said in a report released on Sunday. (more…)

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Does Sub-Saharan Africa Need A Sovereign Wealth Fund? http://www.opalesque.com/SWF_Briefing/?p=17742 http://www.opalesque.com/SWF_Briefing/?p=17742#comments Fri, 26 Jun 2015 02:35:52 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17742 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17742>Article Link</a> On June 27, 14 African central bank governors will be meeting in Switzerland to discuss the formation of a sovereign wealth fund that they hope will help cushion member countries in times of commodity price weaknesses, Xinhua reported. (more…)

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Zimbabwe: Huge Task Ahead for SWF Board http://www.opalesque.com/SWF_Briefing/?p=17741 http://www.opalesque.com/SWF_Briefing/?p=17741#comments Fri, 26 Jun 2015 02:35:34 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17741 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17741>Article Link</a> Finance Minister Patrick Chinamasa last week announced the appointment of a board for the Sovereign Wealth Fund (SWF), managed by the National Indigenisation and Economic Empowerment Board (NIEEB) which is currently subject of a Parliamentary enquiry on how it handled several indigenisation deals. (more…)

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Malaysia fund’s $4.5 bln rescue may weigh on Abu Dhabi’s IPIC http://www.opalesque.com/SWF_Briefing/?p=17740 http://www.opalesque.com/SWF_Briefing/?p=17740#comments Fri, 26 Jun 2015 02:35:23 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17740 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17740>Article Link</a> The $4.5 billion rescue of a struggling Malaysian state fund is good news for the government in Kuala Lumpur but will load Abu Dhabi’s International Petroleum Investment Co with extra debt that may worry investors in its bonds. (more…)

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LPC-CVC and Temasek to back Alvogen buy with existing $700 million loan http://www.opalesque.com/SWF_Briefing/?p=17739 http://www.opalesque.com/SWF_Briefing/?p=17739#comments Fri, 26 Jun 2015 02:35:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17739 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17739>Article Link</a> European private equity fund CVC and Singaporean sovereign wealth fund Temasek are seeking to keep an existing $700 million leveraged loan financing for Alvogen in place to back their acquisition of a controlling stake in the pharmaceutical firm, banking sources said on Thursday. (more…)

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Super Fund kudos shows Govt folly http://www.opalesque.com/SWF_Briefing/?p=17738 http://www.opalesque.com/SWF_Briefing/?p=17738#comments Fri, 26 Jun 2015 02:34:59 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17738 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17738>Article Link</a> JPMorgan’s hat tip to the New Zealand Superannuation Fund was PR manna from heaven after all the hoo-haa a few months back over its ill-fated Portuguese excursion. Research by JPMorgan Asset Management found the Super Fund has been the world’s best-performing sovereign wealth fund over the past five years, with annual investment returns of 17 per cent. (more…)

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President Aliyev approves SOFAZ budget http://www.opalesque.com/SWF_Briefing/?p=17737 http://www.opalesque.com/SWF_Briefing/?p=17737#comments Fri, 26 Jun 2015 02:34:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17737 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17737>Article Link</a> President Ilham Aliyev has signed a decree on the budget of Azerbaijan’s state oil fund SOFAZ for 2014. According to the document signed on June 24, the president approved the implementation of the SOFAZ budget with its revenues at over 12.731 billion manats and expenditures at over 10.117 billion manats. (more…)

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How Capitalists Can Do Well While Doing Good http://www.opalesque.com/SWF_Briefing/?p=17736 http://www.opalesque.com/SWF_Briefing/?p=17736#comments Fri, 26 Jun 2015 02:34:33 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17736 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17736>Article Link</a> Sovereign-wealth funds in Norway and New Zealand, as well as pension funds like the California Public Employees’ Retirement System and Denmark’s ATP, integrate ESG into their investment decisions. (more…)

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Responsible investment: Vice versus nice http://www.opalesque.com/SWF_Briefing/?p=17735 http://www.opalesque.com/SWF_Briefing/?p=17735#comments Fri, 26 Jun 2015 02:34:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17735 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17735>Article Link</a> The movement to divest from fossil fuels has some powerful friends. Last month Norway’s sovereign wealth fund, the world’s biggest, announced that it would sell all its stock in coal companies, following an example set by several big university endowments, such as Stanford’s. (more…)

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Fossil-fuel divestment: No smoking http://www.opalesque.com/SWF_Briefing/?p=17734 http://www.opalesque.com/SWF_Briefing/?p=17734#comments Fri, 26 Jun 2015 02:34:01 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17734 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17734>Article Link</a> The critics are right that it is hard to detect much impact from divestment campaigns on firms’ cost of capital. The first recruits to the fossil-fuel campaign were charities and universities with relatively small investments. Its biggest coup came earlier this year, when Norway’s vast sovereign-wealth fund resolved to sell its investments in coal and the dirtiest forms of oil production. (more…)

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These are the world’s top 10 largest sovereign wealth funds http://www.opalesque.com/SWF_Briefing/?p=17733 http://www.opalesque.com/SWF_Briefing/?p=17733#comments Fri, 26 Jun 2015 02:33:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17733 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17733>Article Link</a> Number 1? Norway’s Government Pension Fund - Global with $882bn worth of assets. Be it China or Qatar, the world’s sovereign wealth funds are snapping up British assets every other day. But which are the world’s top 10 largest sovereign wealth funds? Take a look at this list by Sovereign Wealth Fund Institute. (more…)

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Renzi plans shake-up at Italy’s EUR400bn sovereign wealth fund http://www.opalesque.com/SWF_Briefing/?p=17732 http://www.opalesque.com/SWF_Briefing/?p=17732#comments Thu, 25 Jun 2015 00:39:44 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17732 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17732>Article Link</a> Matteo Renzi, Italy’s prime minister, is planning to extend his reformist agenda into Italian business and finance as he seeks a more aggressive mandate for the country’s €400bn sovereign wealth fund in an effort to spur growth and create jobs. (more…)

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Queen’s grant: Treasury still controls sovereign fund not Scots http://www.opalesque.com/SWF_Briefing/?p=17731 http://www.opalesque.com/SWF_Briefing/?p=17731#comments Thu, 25 Jun 2015 00:39:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17731 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17731>Article Link</a> Edinburgh’s takeover of Scottish Crown Estate assets may rile the royal household worried for its purse, but a misdirected fight could feed Scots’ republican instincts. The royal household is annoyed and appears to be picking a fight with Scotland’s government over the Queen’s share of the UK’s largest and most valuable property portfolio, the Crown Estate. (more…)

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African central bank governors to discuss sovereign wealth funds http://www.opalesque.com/SWF_Briefing/?p=17730 http://www.opalesque.com/SWF_Briefing/?p=17730#comments Thu, 25 Jun 2015 00:39:13 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17730 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17730>Article Link</a> Central bank governors drawn mainly from eastern and southern Africa will meet for a workshop to discuss the leveraging of sovereign wealth funds to establish economic stabilization on the continent. Reserve Bank of Zimbabwe John Mangudya will officially open the forum held in Switzerland on June 27, according to the forum’s organizer, the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI), which operates in 14 African countries. (more…)

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Nigerian Governors : Our problem with ECA, SWF http://www.opalesque.com/SWF_Briefing/?p=17729 http://www.opalesque.com/SWF_Briefing/?p=17729#comments Thu, 25 Jun 2015 00:39:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17729 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17729>Article Link</a> State governors yesterday said they were opposed to the continued existence of the Excess Crude Account and the Sovereign Wealth Fund (SWF) because both had been abused by the federal government. The chairman of the Nigeria Governors’ Forum and Zamfara State Governor Abdulazeez Yari, stated this while speaking with reporters after the governors met President Muhammadu Buhari. (more…)

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Qatar in $8bn bid to buy Formula One motor racing http://www.opalesque.com/SWF_Briefing/?p=17728 http://www.opalesque.com/SWF_Briefing/?p=17728#comments Thu, 25 Jun 2015 00:38:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17728 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17728>Article Link</a> A Qatari investment vehicle is working together with an American company to buy a multi-billion dollar stake in Formula One (F1) racing, according to a report by the Financial Times. Qatar Sports Investments (QSI) and RSE Ventures have teamed up to purchase a 35.5 percent share of F1 from its holding company CVC Capital Partners and the sport’s chief executive Bernie Ecclestone. (more…)

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How a US-Qatar takeover will take Formula 1 up a gear http://www.opalesque.com/SWF_Briefing/?p=17727 http://www.opalesque.com/SWF_Briefing/?p=17727#comments Thu, 25 Jun 2015 00:38:39 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17727 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17727>Article Link</a> Reports are emerging that America’s RSE Ventures, owner of the Miami Dolphins, and Qatar Sports Investments (QSI), a sovereign wealth fund, are seeking to acquire the 35.5% of F1 owned by CVC Capital Partners. It is being predicted that any such deal would be worth between $7 billion and $8 billion. (more…)

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Government should restart contributions to NZ Super Fund http://www.opalesque.com/SWF_Briefing/?p=17726 http://www.opalesque.com/SWF_Briefing/?p=17726#comments Thu, 25 Jun 2015 00:38:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17726 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17726>Article Link</a> The New Zealand Superannuation Fund has been the world’s most successful sovereign wealth fund over the past five years. In that time, it has returned 17 per cent a year. Over the past three years, the going’s been even better, at 21 per cent. These are frankly extraordinary numbers – as fund chairman Gavin Walker said last week, if he saw an investment product promising such returns, “I would be thinking it was too good to be true”. (more…)

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Noble shares rise on buyback and China shareholder’s support http://www.opalesque.com/SWF_Briefing/?p=17725 http://www.opalesque.com/SWF_Briefing/?p=17725#comments Thu, 25 Jun 2015 00:38:12 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17725 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17725>Article Link</a> Shares of Noble Group rose after the company bought more stock and its second-largest shareholder, China’s sovereign wealth fund, voiced support for the company for the first time in the wake of criticism of its accounting practices. (more…)

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The state pension fund as a sovereign wealth fund http://www.opalesque.com/SWF_Briefing/?p=17724 http://www.opalesque.com/SWF_Briefing/?p=17724#comments Thu, 25 Jun 2015 00:37:57 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17724 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17724>Article Link</a> Sovereign wealth funds have been very holistic in their approach to strategic asset allocation. These funds think about the true risks for their clients (citizens) which is associated with the consumption and revenue pattern of their country. They truly have to think about portfolios that can weather ‘bad times” or market downturns because they are investing their country’s wealth. (more…)

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Current trends among GCC sovereign wealth funds http://www.opalesque.com/SWF_Briefing/?p=17723 http://www.opalesque.com/SWF_Briefing/?p=17723#comments Wed, 24 Jun 2015 00:42:09 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17723 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17723>Article Link</a> Swelled by oil revenues the region’s sovereign wealth funds remain among the biggest players in the asset management sector despite the recent drop off in oil prices. Mena Fund Manager looks at current trends among the state-owned funds. The sovereign wealth fund (SWF) sector has continued to grow in recent years. With coffers swelled by commodity revenues, the funds have branched out into new asset classes and sought out new investment opportunities. (more…)

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Things are not looking good for the mining industry http://www.opalesque.com/SWF_Briefing/?p=17722 http://www.opalesque.com/SWF_Briefing/?p=17722#comments Wed, 24 Jun 2015 00:41:58 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17722 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17722>Article Link</a> It is probably not news to most investors that the global mining industry is in trouble at this point. The Chinese, long one of the biggest buyers of mined commodities, are awash in steel, local debt, and ghost cities. Inevitably as sectors underperform, even the most stalwart investors will eventually get tired and jump ship. That appears to be happening now. (more…)

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Saudi Public Investment Fund acquires stake in S.Korea’s Posco http://www.opalesque.com/SWF_Briefing/?p=17721 http://www.opalesque.com/SWF_Briefing/?p=17721#comments Wed, 24 Jun 2015 00:41:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17721 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17721>Article Link</a> Clifford Chance advised the Saudi Public Investment Fund ( PIF ), the investment arm of the Saudi Government, on the acquisition of a 38% stake consisting of new and existing shares in Posco Engineering & Construction Co Ltd (Posco E&C), a leading Korean engineering and construction company with operations in Asia, the Middle East, South America and Europe. (more…)

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1MDB: Price paid for energy assets based on ‘long-term view’ http://www.opalesque.com/SWF_Briefing/?p=17720 http://www.opalesque.com/SWF_Briefing/?p=17720#comments Wed, 24 Jun 2015 00:41:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17720 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17720>Article Link</a> 1Malaysia Development Berhad (1MDB) debunked allegations made recently in the Wall Street Journal (WSJ) on its 2012 purchase of a power asset from Genting Group, saying the allegedly inflated price paid had not been driven by political considerations. (more…)

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How China’s race to reserve currency status will rock markets http://www.opalesque.com/SWF_Briefing/?p=17719 http://www.opalesque.com/SWF_Briefing/?p=17719#comments Wed, 24 Jun 2015 00:41:15 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17719 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17719>Article Link</a> The inclusion of the Chinese renminbi into the basket of IMF’s reserve currencies will radically transform global markets and developing countries’ central banks policies. That’s according to Ashmore’s head of research Jan Dehn, who shared his views during a press roundtable on Tuesday. (more…)

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