Opalesque Sovereign Wealth Funds Briefing http://www.opalesque.com/SWF_Briefing Tue, 28 Jun 2016 01:24:03 +0000 http://wordpress.org/?v=2.5.1 en Sujoy Bose appointed CEO of Indian sovereign wealth fund NIIF http://www.opalesque.com/SWF_Briefing/?p=20100 http://www.opalesque.com/SWF_Briefing/?p=20100#comments Tue, 28 Jun 2016 01:24:03 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20100 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20100>Article Link</a> Sujoy Bose was on Monday appointed CEO of India’s maiden Rs 40,000 crore sovereign wealth fund NIIF. At present he is the Director and Global Co-Head of Infrastructure and Natural Resources at Washington-based International Finance Corporation. IFC is the private sector lending arm of the World Bank. (more…)

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New Zealand Super set to pursue factor investing http://www.opalesque.com/SWF_Briefing/?p=20099 http://www.opalesque.com/SWF_Briefing/?p=20099#comments Tue, 28 Jun 2016 01:23:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20099 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20099>Article Link</a> New Zealand Superannuation Fund is turning to factor-based strategies to squeeze better long-term returns from the roughly 75% of its NZ$30.3 billion ($21.4 billion) portfolio invested now in passive strategies. (more…)

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1MDB: Malaysia’s stunning financial scandal http://www.opalesque.com/SWF_Briefing/?p=20098 http://www.opalesque.com/SWF_Briefing/?p=20098#comments Tue, 28 Jun 2016 01:23:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20098 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20098>Article Link</a> Malaysia has been rocked for more than a year by a financial scandal involving Prime Minister Najib Razak, a state investment firm, and an alleged frenzy of embezzlement stunning in its scope and complexity. (more…)

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QIA Said to Weigh Pulling Credit Suisse London Office Sale http://www.opalesque.com/SWF_Briefing/?p=20097 http://www.opalesque.com/SWF_Briefing/?p=20097#comments Tue, 28 Jun 2016 01:23:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20097 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20097>Article Link</a> The Qatar Investment Authority is considering abandoning the sale of 1 Cabot Square, an office building in London’s Canary Wharf financial district leased to Credit Suisse Group AG, according to two people with knowledge of the matter. (more…)

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Kuwait’s finance min expresses confidence in UK investments http://www.opalesque.com/SWF_Briefing/?p=20096 http://www.opalesque.com/SWF_Briefing/?p=20096#comments Tue, 28 Jun 2016 01:23:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20096 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20096>Article Link</a> Kuwaiti Finance Minister Anas Al-Saleh said on Monday that the Gulf Arab kingdom’s investments in Britain were “high-quality and long-term”, state news agency KUNA reported. (more…)

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Norway’s sovereign wealth fund files complaint against VW over emissions scandal http://www.opalesque.com/SWF_Briefing/?p=20095 http://www.opalesque.com/SWF_Briefing/?p=20095#comments Tue, 28 Jun 2016 01:22:57 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20095 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20095>Article Link</a> Norway’s sovereign wealth fund has filed a complain against Volkswagen as part of a joint legal action following the carmaker’s emissions scandal. (more…)

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The State Oil Fund of the Republic of Azerbaijan successfully completes implementation of SimCorp Dimension http://www.opalesque.com/SWF_Briefing/?p=20094 http://www.opalesque.com/SWF_Briefing/?p=20094#comments Tue, 28 Jun 2016 01:22:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20094 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20094>Article Link</a> SimCorp, a leading provider of investment management solutions and services for the global financial services industry, today announced that The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has successfully completed the implementation of SimCorp Dimension. (more…)

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SWFs: Investing Directly and Creating Value http://www.opalesque.com/SWF_Briefing/?p=20093 http://www.opalesque.com/SWF_Briefing/?p=20093#comments Tue, 28 Jun 2016 01:22:29 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20093 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20093>Article Link</a> Today, when sovereign wealth funds (SWFs) put assets into alternative investments, they are more likely to be direct, rather than passive, investors. One of Canada’s largest pension funds recently bought a significant minority stake in Allflex Group, the global leader in animal monitoring technology, joining Allflex’s leading shareholder, private equity firm BC Partners. (more…)

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Sovereign funds continue to pull billions from asset managers http://www.opalesque.com/SWF_Briefing/?p=20092 http://www.opalesque.com/SWF_Briefing/?p=20092#comments Mon, 27 Jun 2016 02:51:52 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20092 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20092>Article Link</a> Sovereign wealth funds have pulled billions of dollars from asset managers for the seventh consecutive quarter, piling further pressure on an industry battling falling profits and disappointing performance. (more…)

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Norway $860-billion wealth fund repeats will remain long-term investor in UK regardless of Brexit http://www.opalesque.com/SWF_Briefing/?p=20091 http://www.opalesque.com/SWF_Briefing/?p=20091#comments Mon, 27 Jun 2016 02:51:39 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20091 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20091>Article Link</a> Repeats that it will remain a long-term investor in Britain regardless of Brexit vote outcome. Is following the situation after Brexit vote.
Britain is the fund’s second-largest country holding after the United States, representing 10.2 percent of its total value at end-2015………………………………………..Full Article: Source

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Norway’s wealth fund files complaint against Volkswagen http://www.opalesque.com/SWF_Briefing/?p=20090 http://www.opalesque.com/SWF_Briefing/?p=20090#comments Mon, 27 Jun 2016 02:51:16 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20090 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20090>Article Link</a> Norway’s $850-billion sovereign wealth fund, the world’s largest, has filed a complaint against Volkswagen, as part of a joint legal action following the carmaker’s emissions scandal, the fund said in a statement. (more…)

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The Future Fund emerges in Port of Melbourne bid http://www.opalesque.com/SWF_Briefing/?p=20089 http://www.opalesque.com/SWF_Briefing/?p=20089#comments Mon, 27 Jun 2016 02:51:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20089 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20089>Article Link</a> The Future Fund, Australia’s $117 billion sovereign wealth fund, is believed to be seeking to buy a 20 per cent stake in the Australia’s largest shipping container terminal, the Port of Melbourne. (more…)

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Singapore GIC is prepared for a period of heightened market uncertainty post-Brexit http://www.opalesque.com/SWF_Briefing/?p=20088 http://www.opalesque.com/SWF_Briefing/?p=20088#comments Mon, 27 Jun 2016 02:50:51 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20088 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20088>Article Link</a> Singapore’s sovereign wealth fund GIC said on Friday it runs a long-term and diversified portfolio even though about 7 per cent of its portfolio is invested in the United Kingdom, making it the most exposed among Asian state investors after Britain’s shock exit from the European Union (EU). (more…)

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UAE’s net investment outstrips external debt: Moody’s http://www.opalesque.com/SWF_Briefing/?p=20087 http://www.opalesque.com/SWF_Briefing/?p=20087#comments Mon, 27 Jun 2016 02:50:44 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20087 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20087>Article Link</a> The UAE benefits from a large positive net international investment position (IIP) that is far higher than its aggregate external debt, Moody’s Investors Service said. “Although not officially published, historical financial flows, sovereign wealth fund [SWF] assets and external debt data suggest that UAE’s net IIP may be as high as 130 per cent of the country’s gross domestic product [GDP], ranking the country in the top quartile globally,” said Moody’s. (more…)

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Qatar shows its economic resilience and much more http://www.opalesque.com/SWF_Briefing/?p=20086 http://www.opalesque.com/SWF_Briefing/?p=20086#comments Mon, 27 Jun 2016 02:50:26 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20086 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20086>Article Link</a> The amount raised in May is considered the biggest-ever bond issued by any government in the Middle East. Not surprisingly, the achievement serves as a vote of confidence by international investors concerning the Qatari economy’s prospects notwithstanding the oil prices. (more…)

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Qatar fund buying Balmain shows Middle Eastern investors’ hunger for luxury labels http://www.opalesque.com/SWF_Briefing/?p=20085 http://www.opalesque.com/SWF_Briefing/?p=20085#comments Mon, 27 Jun 2016 02:50:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20085 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20085>Article Link</a> The acquisition of Balmain, the Paris fashion house, by Mayhoola for Investments, a Qatar-based fund, is the latest sign of Middle Eastern investors’ appetite for luxury goods. The spree makes sense: that region’s market is probably the best suited to the industry’s business model and culture today. (more…)

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Norwegian pension fund dumps Petrobras over corruption http://www.opalesque.com/SWF_Briefing/?p=20084 http://www.opalesque.com/SWF_Briefing/?p=20084#comments Fri, 24 Jun 2016 03:28:30 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20084 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20084>Article Link</a> Norway’s largest pension fund has blacklisted Petrobras over concerns that the state-controlled oil company at the centre of a Brazilian bribery scandal is prone to further corruption problems beyond its home market. (more…)

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More public listings needed to boost growth - Norway’s wealth fund http://www.opalesque.com/SWF_Briefing/?p=20083 http://www.opalesque.com/SWF_Briefing/?p=20083#comments Fri, 24 Jun 2016 03:28:17 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20083 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20083>Article Link</a> Developed economies must reverse a two-decade decline in stock market listings to attract investment and revive growth, Norway’s $870 billion sovereign wealth fund, the world’s largest, said on Wednesday. (more…)

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Azerbaijan’s Oil Fund sells another $50 million through Central Bank’s auction http://www.opalesque.com/SWF_Briefing/?p=20082 http://www.opalesque.com/SWF_Briefing/?p=20082#comments Fri, 24 Jun 2016 03:27:58 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20082 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20082>Article Link</a> The State Oil Fund of Azerbaijan (SOFAZ) has appeared today at the foreign exchange auction of the Central Bank as a seller. According to SOFAZ, today it has applied for sale of $50 million and sold them. (more…)

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BSI Bank appeals regulator’s 1MDB sanctions http://www.opalesque.com/SWF_Briefing/?p=20081 http://www.opalesque.com/SWF_Briefing/?p=20081#comments Fri, 24 Jun 2016 03:27:45 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20081 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20081>Article Link</a> Swiss-based private bank BSI is taking the country’s financial regulator to court to appeal “unlawful and disproportionate sanctions” imposed last month in relation to the bank’s business with the Malaysian sovereign wealth fund 1MDB. (more…)

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Temasek draws diversified crowd to PE-backed CFO http://www.opalesque.com/SWF_Briefing/?p=20080 http://www.opalesque.com/SWF_Briefing/?p=20080#comments Fri, 24 Jun 2016 03:27:34 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20080 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20080>Article Link</a> Singapore sovereign investment arm Temasek Holdings executed a landmark transaction this week with its $1.1bn Astrea III securitization backed by cashflows generated by private equity funds. But despite the rarity of the deal and the difficulty in coming up with a price gauge, Temasek managed to expand the appeal of the product to a more diversified investor base. (more…)

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GIC’s Betty Tay appointed to HFSB http://www.opalesque.com/SWF_Briefing/?p=20079 http://www.opalesque.com/SWF_Briefing/?p=20079#comments Fri, 24 Jun 2016 03:27:18 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20079 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20079>Article Link</a> The Hedge Fund Standards Board (HFSB), the global standard-setting body for the hedge fund industry, has appointed Managing Director and Head of the External Managers Department at GIC Betty Tay to its board of directors.The board also established the Asia Pacific Committee (APAC Committee). (more…)

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Can a new owner take ‘Balmania’ to the next level? http://www.opalesque.com/SWF_Briefing/?p=20078 http://www.opalesque.com/SWF_Briefing/?p=20078#comments Fri, 24 Jun 2016 03:25:41 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20078 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20078>Article Link</a> So, Mayhoola for Investments — the Qatari sovereign wealth fund that owns Valentino, Anya Hindmarch and Pal Zileri, and that is backed by Qatar’s royal family — has bought Balmain, the Paris fashion house backed by the Kardashians (well, not exactly backed, but they are its biggest cheerleaders). This could have big repercussions on what we all wear. (more…)

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Libyan Fund Official Had Never Heard of Goldman ‘In My Life’ http://www.opalesque.com/SWF_Briefing/?p=20077 http://www.opalesque.com/SWF_Briefing/?p=20077#comments Thu, 23 Jun 2016 03:24:30 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20077 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20077>Article Link</a> A Libyan official who helped review billion-dollar investments with Goldman Sachs Group Inc. said he had never heard of the bank or the word derivative before joining the country’s $60 billion-dollar sovereign wealth fund in 2007. (more…)

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Fashion house Balmain sold to Qatar’s Mayhoola sovereign wealth fund http://www.opalesque.com/SWF_Briefing/?p=20076 http://www.opalesque.com/SWF_Briefing/?p=20076#comments Thu, 23 Jun 2016 03:24:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20076 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20076>Article Link</a> The Qatari investment fund that owns the Italian Valentino label will take over the French fashion house Balmain, which has become a favourite of film stars, the adviser for the acquisition has announced. (more…)

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World’s 2nd-Biggest Sovereign Fund Sees Oil Glut Until Mid-2017 http://www.opalesque.com/SWF_Briefing/?p=20075 http://www.opalesque.com/SWF_Briefing/?p=20075#comments Thu, 23 Jun 2016 03:23:52 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20075 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20075>Article Link</a> The global oil glut will probably persist until at least next summer as markets take time to absorb excess crude in storage, according to the head of research at the world’s second-largest sovereign wealth fund. (more…)

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More public listings needed to boost growth - Norway’s wealth fund http://www.opalesque.com/SWF_Briefing/?p=20074 http://www.opalesque.com/SWF_Briefing/?p=20074#comments Thu, 23 Jun 2016 03:23:26 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20074 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20074>Article Link</a> Developed economies must reverse a two-decade decline in stock market listings to attract investment and revive growth, Norway’s $870 billion sovereign wealth fund, the world’s largest, said on Wednesday. (more…)

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GIC said to be selling two Paris buildings http://www.opalesque.com/SWF_Briefing/?p=20073 http://www.opalesque.com/SWF_Briefing/?p=20073#comments Thu, 23 Jun 2016 03:23:12 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20073 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20073>Article Link</a> Singapore sovereign wealth fund GIC is in talks to sell two buildings in the Paris central business district valued at about €500 million (S$756 million) to Societe Generale’s insurance unit, according to people with knowledge of the discussions. (more…)

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GIC, Blackstone among investors interested in DLF’s rental arm stake http://www.opalesque.com/SWF_Briefing/?p=20072 http://www.opalesque.com/SWF_Briefing/?p=20072#comments Thu, 23 Jun 2016 03:23:01 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20072 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20072>Article Link</a> Global investors that have submitted expressions of interest for acquiring a stake in realty firm DLF Ltd’s rental arm include both sovereign wealth funds such as Government of Singapore Investment Corp. Pte Ltd (GIC), Abu Dhabi Investment Authority (ADIA) and Canada Pension Plan Investment Board (CPPIB), and private equity firm Blackstone Group Lp. (more…)

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Temasek’s unit issues $510 mln private equity bonds in Singapore http://www.opalesque.com/SWF_Briefing/?p=20071 http://www.opalesque.com/SWF_Briefing/?p=20071#comments Thu, 23 Jun 2016 03:22:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20071 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20071>Article Link</a> A unit of Singapore state investor Temasek Holdings issued on Wednesday $510 million worth of bonds backed by cash flows from 34 private equity funds. The bonds, which were subscribed more than eight times, were aimed at tapping investors in private equity beyond the traditional base of a select group of wealthy individuals. (more…)

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India eases foreign investment rules for airlines http://www.opalesque.com/SWF_Briefing/?p=20070 http://www.opalesque.com/SWF_Briefing/?p=20070#comments Wed, 22 Jun 2016 03:44:04 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20070 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20070>Article Link</a> India eased rules for foreign investment in the country’s aviation sector in a bid to boost air travel and develop new airports in Asia’s third-largest economy. Indian carrier IndiGo’s CEO Akbar Al Baker had earlier said Qatar attempted to invest at the time of IndiGo’s IPO but government regulations and lack of time prevented the country’s sovereign wealth fund from doing so. (more…)

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GIC said in talks to sell $756 mil Paris offices to SocGen http://www.opalesque.com/SWF_Briefing/?p=20069 http://www.opalesque.com/SWF_Briefing/?p=20069#comments Wed, 22 Jun 2016 03:43:52 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20069 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20069>Article Link</a> GIC, Singapore’s sovereign wealth fund, is in talks to sell two buildings in Paris’s central business district valued at about 500 million euros ($756 million) to Societe Generale’s insurance unit, according to people with knowledge of the discussions. (more…)

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Temasek pares stake in China Construction Bank http://www.opalesque.com/SWF_Briefing/?p=20068 http://www.opalesque.com/SWF_Briefing/?p=20068#comments Wed, 22 Jun 2016 03:43:38 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20068 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20068>Article Link</a> Temasek Holdings has pared its stake in China Construction Bank (CCB), the lender said in a filing to the Shanghai Stock Exchange. Temasek unit Fullerton Financial Holdings sold 555 million Hong Kong-listed shares of CCB at HK$5.01 (87 Singapore cents) apiece on June 16, for HK$2.78 billion in total. (more…)

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CCB shares little changed after Temasek cuts stake http://www.opalesque.com/SWF_Briefing/?p=20067 http://www.opalesque.com/SWF_Briefing/?p=20067#comments Wed, 22 Jun 2016 03:43:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20067 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20067>Article Link</a> Shares of China Construction Bank (CCB) are moving in a narrow range on the Hong Kong stock market. Selling of CCB shares increased after the bank on Monday announced that Temasek Holdings, a Singapore sovereign wealth fund, has sold 555 million CCB shares, or 0.22% of the bank’s outstanding shares. (more…)

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What You Need to Know About Abu Dhabi’s Plan for a Megabank http://www.opalesque.com/SWF_Briefing/?p=20066 http://www.opalesque.com/SWF_Briefing/?p=20066#comments Wed, 22 Jun 2016 03:43:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20066 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20066>Article Link</a> National Bank of Abu Dhabi PJSC and First Gulf Bank PJSC, the two largest banks in the oil-rich emirate of Abu Dhabi, said on Sunday that they’re in early stage merger talks. Given both NBAD and FGB’s ties to the government — NBAD is 69 percent owned by sovereign wealth fund Abu Dhabi Investment Council — political will is paramount to the deal’s successful conclusion. (more…)

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SOFAZ sells $50M at auction to local banks http://www.opalesque.com/SWF_Briefing/?p=20065 http://www.opalesque.com/SWF_Briefing/?p=20065#comments Wed, 22 Jun 2016 03:42:53 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20065 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20065>Article Link</a> The State Oil Fund of Azerbaijan (SOFAZ) sold $50 million to 28 banks through an auction held by the Central Bank of Azerbaijan (CBA), SOFAZ said June 21. (more…)

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Failure to create sovereign wealth fund ‘real missed opportunity’: NDP http://www.opalesque.com/SWF_Briefing/?p=20064 http://www.opalesque.com/SWF_Briefing/?p=20064#comments Wed, 22 Jun 2016 03:42:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20064 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20064>Article Link</a> The Saskatchewan government’s failure to act on a three-year-old report recommending the establishment of a sovereign wealth fund is a “real missed opportunity,” according to the interim leader of the Opposition NDP. (more…)

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Bahrain’s SWF has no plans to borrow this year-CEO http://www.opalesque.com/SWF_Briefing/?p=20063 http://www.opalesque.com/SWF_Briefing/?p=20063#comments Tue, 21 Jun 2016 03:27:03 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20063 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20063>Article Link</a> Bahrain’s sovereign wealth fund Mumtalakat plans to finance its projects this year using income from investments and will not seek loans or government assistance, its chief executive said. (more…)

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SOFAZ announces gold reserves portfolio http://www.opalesque.com/SWF_Briefing/?p=20062 http://www.opalesque.com/SWF_Briefing/?p=20062#comments Tue, 21 Jun 2016 03:26:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20062 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20062>Article Link</a> Currently, Azerbaijan’s state oil fund SOFAZ has no plans to convert purchased gold to other assets, as well as purchase additional gold, the Fund said. As for gold investments strategy, SOFAZ said these investments have been chosen for strategic purposes, but not short-term speculative targets. (more…)

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Temasek sells 555 million shares in China Construction Bank http://www.opalesque.com/SWF_Briefing/?p=20061 http://www.opalesque.com/SWF_Briefing/?p=20061#comments Tue, 21 Jun 2016 03:26:37 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20061 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20061>Article Link</a> Singapore’s state-owned investment firm Temasek Holdings Pte reduced its stake in the Hong Kong-listed shares in China Construction Bank Corp, according to a filing by the Chinese lender to the Shanghai stock exchange. (more…)

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Mahathir vows to soldier on to oust Najib http://www.opalesque.com/SWF_Briefing/?p=20060 http://www.opalesque.com/SWF_Briefing/?p=20060#comments Tue, 21 Jun 2016 03:26:23 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20060 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20060>Article Link</a> Former Prime Minister Mahathir Mohamad vowed in his latest blog posting that he would continue his efforts, by whatever means, to “cleanse” the government of Malaysia. “I cannot accept Najib (prime minister) who believes that ‘Cash is King’. (more…)

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Malaysia fund threatens to fight back http://www.opalesque.com/SWF_Briefing/?p=20059 http://www.opalesque.com/SWF_Briefing/?p=20059#comments Tue, 21 Jun 2016 03:26:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20059 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20059>Article Link</a> Troubled Malaysian state investment vehicle 1Malaysia Development Berhad (1MDB) said on Friday (June 17) it plans a “robust response” to an Abu Dhabi sovereign wealth fund’s move to seek US$6.5 billion (S$8.8 billion) via international arbitration of a debt dispute. (more…)

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Irish Angle on 1MDB Confirms Jho Low Link To Goldman Sachs http://www.opalesque.com/SWF_Briefing/?p=20058 http://www.opalesque.com/SWF_Briefing/?p=20058#comments Tue, 21 Jun 2016 03:26:00 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20058 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20058>Article Link</a> Way back in May 2014, Sarawak Report noted that reports from Ireland and also from a British High Court judgement made clear that Najib’s 1MDB proxy, Jho Low, was using money from the development fund to back his own private equity ventures. (more…)

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Miner Kenmare plots to raise 10 times its market cap with £250m turnaround plan http://www.opalesque.com/SWF_Briefing/?p=20057 http://www.opalesque.com/SWF_Briefing/?p=20057#comments Tue, 21 Jun 2016 03:25:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20057 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20057>Article Link</a> Dublin-based miner Kenmare Resources intends to raise 10 times its £26m market cap in an ambitious capital raising that could see it eliminate debt and restore its share price from penny-stock status. (more…)

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Qatar-backed Volkswagen group to phase out more than 40 car models http://www.opalesque.com/SWF_Briefing/?p=20056 http://www.opalesque.com/SWF_Briefing/?p=20056#comments Tue, 21 Jun 2016 03:25:34 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20056 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20056>Article Link</a> Volkswagen brand sales held broadly stable in May, with gains in Europe and China offsetting declines in the Americas, as the carmaker keeps battling its diesel emissions scandal. VW, which is 17 percent owned by the Qatar Investment Authority (QIA), has been largely on the defensive since US authorities revealed in September it had admitted rigging exhaust emission tests on some diesel-powered models. (more…)

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Investors seeking VW reform may be disappointed at AGM http://www.opalesque.com/SWF_Briefing/?p=20055 http://www.opalesque.com/SWF_Briefing/?p=20055#comments Tue, 21 Jun 2016 03:25:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20055 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20055>Article Link</a> Investors hungry for reform at Volkswagen after the diesel emissions test-cheating scandal may be disappointed at the carmaker’s annual shareholder meeting on Wednesday. (more…)

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GCC sovereign wealth funds adjusting long-term strategies http://www.opalesque.com/SWF_Briefing/?p=20054 http://www.opalesque.com/SWF_Briefing/?p=20054#comments Mon, 20 Jun 2016 03:07:30 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20054 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20054>Article Link</a> As an inevitable consequence of a prolonged period of low oil prices, Gulf-based sovereign wealth funds are readjusting their long-term strategies, selling their financial assets abroad and pulling the money out at a rapid rate to fill the gaping budgetary holes. Also, there has been increased pressure on the them to invest in the local market in order to support projects troubled by budgetary cuts. (more…)

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Russia sanctions to be lifted by year-end: Sovereign wealth fund chief http://www.opalesque.com/SWF_Briefing/?p=20053 http://www.opalesque.com/SWF_Briefing/?p=20053#comments Mon, 20 Jun 2016 03:07:16 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20053 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20053>Article Link</a> European sanctions imposed on Russia two years may be lifted by the end of 2016, the chief executive of Russia’s sovereign wealth fund said. The U.S. and the European Union introduced sanctions against Russian companies and individuals with links to Moscow after Russia’s annexation of Crimea in 2014. The 28-country EU will meet next month to decide whether to renew them. (more…)

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Malaysia’s 1MDB plans ‘robust response’ in debt row with Abu Dhabi sovereign wealth fund http://www.opalesque.com/SWF_Briefing/?p=20052 http://www.opalesque.com/SWF_Briefing/?p=20052#comments Mon, 20 Jun 2016 03:07:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20052 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20052>Article Link</a> Troubled Malaysian state investment vehicle 1Malaysia Development Berhad (1MDB) said on Friday (June 17) it plans a “robust response” to an Abu Dhabi sovereign wealth fund’s move to seek US$6.5 billion (S$8.8 billion) via international arbitration of a debt dispute. (more…)

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Libya case against Goldman shines rare spotlight on powerful bank http://www.opalesque.com/SWF_Briefing/?p=20051 http://www.opalesque.com/SWF_Briefing/?p=20051#comments Mon, 20 Jun 2016 03:06:51 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20051 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20051>Article Link</a> UK court hears of hotels and entertainment on third day of trial in $1bn claim by Libyan fund. It was a week when London’s High Court heard the lurid details about a Goldman Sachs banker procuring prostitutes to develop ties with the Libyan Investment Authority and then fearing for his life when the investments the US bank had sold to the wealth fund turned sour. (more…)

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Libya SWF adviser says execs who invested in derivatives were financially “illiterate” http://www.opalesque.com/SWF_Briefing/?p=20050 http://www.opalesque.com/SWF_Briefing/?p=20050#comments Mon, 20 Jun 2016 03:06:39 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20050 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20050>Article Link</a> Top decision makers at Libya’s $67 billion sovereign wealth fund were “illiterate” in terms of investment with little knowledge of the derivatives instruments purchased on the advice of Goldman Sachs, an adviser to the fund told a court on Thursday. (more…)

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Flash Boys Hero Wins, Wealth Funds Rejoice http://www.opalesque.com/SWF_Briefing/?p=20049 http://www.opalesque.com/SWF_Briefing/?p=20049#comments Mon, 20 Jun 2016 03:06:15 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20049 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20049>Article Link</a> On Friday June 17th, IEX Group Inc., the company founded by Brad Katsuyama, won SEC approval to run a U.S. stock exchange. IEX will be the 13th U.S. national stock exchange certified by the SEC. Before the approval, IEX ran as an alternative trading system. IEX garnered additional fame when it was included in Michael Lewis’ book “Flash Boys: A Wall Street Revolt.” (more…)

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Watchdogs exempt sovereign wealth and pension funds from study http://www.opalesque.com/SWF_Briefing/?p=20048 http://www.opalesque.com/SWF_Briefing/?p=20048#comments Fri, 17 Jun 2016 01:04:57 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20048 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20048>Article Link</a> Sovereign wealth funds and pension funds have won a temporary break from tighter regulatory scrutiny, as global watchdogs exempted them from an ambitious study aiming to curb systemic risks from financial institutions that are not banks or insurers. (more…)

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Goldman Sachs was like a ’swarm’ on Libyan wealth fund client, court told http://www.opalesque.com/SWF_Briefing/?p=20047 http://www.opalesque.com/SWF_Briefing/?p=20047#comments Fri, 17 Jun 2016 01:04:45 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20047 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20047>Article Link</a> Goldman Sachs acted “like a swam” on a Libyan sovereign wealth fund client, a witness in a dispute between the bank and the Libyan Investment Authority, told a London court on Thursday. (more…)

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Libya SWF adviser says execs who invested in derivatives were financially “illiterate” http://www.opalesque.com/SWF_Briefing/?p=20046 http://www.opalesque.com/SWF_Briefing/?p=20046#comments Fri, 17 Jun 2016 01:04:33 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20046 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20046>Article Link</a> Top decision makers at Libya’s $67 billion sovereign wealth fund were “illiterate” in terms of investment with little knowledge of the derivatives instruments purchased on the advice of Goldman Sachs, an adviser to the fund told a court on Thursday. (more…)

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Petrobras said close to US$6b sale of Brazil gas pipelines http://www.opalesque.com/SWF_Briefing/?p=20045 http://www.opalesque.com/SWF_Briefing/?p=20045#comments Fri, 17 Jun 2016 01:04:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20045 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20045>Article Link</a> Brazil’s troubled state-run oil company Petrobras is close to selling a 81 per cent stake in a natural gas pipeline network in Brazil for nearly US$6 billion to a consortium led by Brookfield Asset Management Inc. (more…)

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Putin praises Russian SWF http://www.opalesque.com/SWF_Briefing/?p=20044 http://www.opalesque.com/SWF_Briefing/?p=20044#comments Fri, 17 Jun 2016 01:04:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20044 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20044>Article Link</a> Russian President Vladimir Putin praised the Russian Direct Investment Fund for what has been achieved so far and stressed the importance of its cooperation with other countries, including the UAE, Saudi Arabia, and Qatar which shows their trust not only in the fund, but in Russia on the whole. “Over this time [five years], the fund has made significant progress. It has raised more than 760 billion rubles [over $11.5 billion] for the Russian economy.” (more…)

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Russia may tap National Wealth Fund to cover budget deficit in 2017 http://www.opalesque.com/SWF_Briefing/?p=20043 http://www.opalesque.com/SWF_Briefing/?p=20043#comments Fri, 17 Jun 2016 01:03:52 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20043 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20043>Article Link</a> Russia may start spending cash from one of its sovereign wealth funds, the National Wealth Fund (NWF), to cover budget shortfalls next year, Finance Minister Anton Siluanov said on Thursday. (more…)

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Azerbaijan’s Oil Fund sold $50 million more through Central Bank’s auction http://www.opalesque.com/SWF_Briefing/?p=20042 http://www.opalesque.com/SWF_Briefing/?p=20042#comments Fri, 17 Jun 2016 01:03:41 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20042 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20042>Article Link</a> The State Oil Fund of Azerbaijan (SOFAZ) has appeared today at the foreign exchange auction of the Central Bank as a seller. According to SOFAZ, today it has applied for sale of $50 million and sold them. (more…)

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Temasek sets up panel of advisers for Americas http://www.opalesque.com/SWF_Briefing/?p=20041 http://www.opalesque.com/SWF_Briefing/?p=20041#comments Fri, 17 Jun 2016 01:03:27 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20041 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20041>Article Link</a> Temasek Holdings announced the formation of an advisory panel yesterday that comprises some of the most eminent business figures in the Americas. The Temasek Americas Advisory Panel (TAAP), which held its first meeting this week in New York, has seven members, including PepsiCo chairman and chief executive Indra Nooyi, Honeywell International chairman and CEO David Cote, and former US treasury secretary Timothy Geithner, who also chairs TAAP. (more…)

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