Opalesque Sovereign Wealth Funds Briefing http://www.opalesque.com/SWF_Briefing Wed, 26 Nov 2014 00:31:57 +0000 http://wordpress.org/?v=2.5.1 en Norwegian fund may shed BHP stake http://www.opalesque.com/SWF_Briefing/?p=16454 http://www.opalesque.com/SWF_Briefing/?p=16454#comments Wed, 26 Nov 2014 00:31:57 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16454 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16454>Article Link</a> Norway’s $US870 billion ($1.02 trillion) sovereign wealth fund may be forced to shed assets such as Coal India, BHP Billiton and China Shenhua Energy next year as pressure mounts for Parliament to act on fossil fuel divestments. (more…)

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Norway oil fund’s coal exposure bigger than claimed -environment groups http://www.opalesque.com/SWF_Briefing/?p=16453 http://www.opalesque.com/SWF_Briefing/?p=16453#comments Wed, 26 Nov 2014 00:31:45 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16453 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16453>Article Link</a> Norway’s $860 billion sovereign wealth fund, the world’s biggest, has more exposure to coal than it said earlier and should sell out, three environmental groups said, potentially re-igniting calls for the fund to revamp its portfolio. (more…)

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What the Nordic states can teach us about investing mining wealth http://www.opalesque.com/SWF_Briefing/?p=16452 http://www.opalesque.com/SWF_Briefing/?p=16452#comments Wed, 26 Nov 2014 00:31:30 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16452 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16452>Article Link</a> The government formed the Petroleum Fund, into which money began to be deposited in 1996. In 2006 this became the Government Pension Fund – Global (Statens Pensjonsfond). It is commonly referred to by Norwegians as the Oljefondet (oil fund), while it is often referred to in other parts of the world as Norway’s “sovereign wealth fund”. (more…)

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Singapore’s GIC to invest in Indonesia property with Rajawali http://www.opalesque.com/SWF_Briefing/?p=16451 http://www.opalesque.com/SWF_Briefing/?p=16451#comments Wed, 26 Nov 2014 00:31:15 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16451 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16451>Article Link</a> Singapore’s sovereign wealth fund GIC and Indonesia’s Rajawali Group have agreed to jointly invest up to $500 million in equity in property projects in Indonesia, the two companies said in a statement on Tuesday. (more…)

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KIC to retain BOA stake for time being: chief http://www.opalesque.com/SWF_Briefing/?p=16450 http://www.opalesque.com/SWF_Briefing/?p=16450#comments Wed, 26 Nov 2014 00:31:00 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16450 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16450>Article Link</a> The head of South Korea’s sovereign wealth fund on Monday apologized for its botched investment in Bank of America (BoA) but stressed it plans to retain the stake for the time being to minimize losses. (more…)

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SWF Apologizes to Citizens for Merrill Lynch Investment http://www.opalesque.com/SWF_Briefing/?p=16449 http://www.opalesque.com/SWF_Briefing/?p=16449#comments Wed, 26 Nov 2014 00:30:42 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16449 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16449>Article Link</a> The head of South Korea’s $77 billion sovereign wealth fund has apologized to the country’s citizens for its disastrous $2 billion investment in Merrill Lynch, made shortly before the corporation merged with Bank of America. (more…)

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Khazanah considers releasing Islamic bonds to finance business expansions http://www.opalesque.com/SWF_Briefing/?p=16448 http://www.opalesque.com/SWF_Briefing/?p=16448#comments Wed, 26 Nov 2014 00:30:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16448 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16448>Article Link</a> Malaysia’s state-owned sovereign wealth fund is giving the government’s green financing initiative a boost with a plan to sell the nation’s first sukuk under socially responsible investment guidelines. (more…)

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NZ Super Fund’s Orr says responsible investing now a groundswell globally http://www.opalesque.com/SWF_Briefing/?p=16447 http://www.opalesque.com/SWF_Briefing/?p=16447#comments Wed, 26 Nov 2014 00:30:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16447 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16447>Article Link</a> NZ Superannuation Fund chief executive Adrian Orr said long-term and responsible investing has become a groundswell globally, rather than a ripple. Speaking at today’s Responsible Investment Association of Australasia conference in Auckland, Orr said globally it had reached a tipping point where more asset owners were now having regard for responsible investment drivers such as environmental, social and governance issues. (more…)

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Bajaj Corp sells 8% stake to Temasek: Sources http://www.opalesque.com/SWF_Briefing/?p=16446 http://www.opalesque.com/SWF_Briefing/?p=16446#comments Wed, 26 Nov 2014 00:29:56 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16446 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16446>Article Link</a> Bajaj Corp has sold 8 percent stake in the company to Temasek, CNBC-TV18 learns from sources. The stake sale has been done to close equity funding for Bajaj Corp’s 2,000 MW power plant in Uttar Pradesh. (more…)

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Goldman Ordered by Judge to Disclose Profits on Libya Trades http://www.opalesque.com/SWF_Briefing/?p=16445 http://www.opalesque.com/SWF_Briefing/?p=16445#comments Wed, 26 Nov 2014 00:29:42 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16445 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16445>Article Link</a> Legal woes continue to trouble The Goldman Sachs Group, Inc. The Wall Street banking giant has been ordered by a High Court judge in London to disclose the amount of profit it derived from nine complex derivatives trades associated with the $1 billion lawsuit filed against the bank by the Libyan Investment Authority (LIA). (more…)

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Time for SWFs to bring the money back home http://www.opalesque.com/SWF_Briefing/?p=16444 http://www.opalesque.com/SWF_Briefing/?p=16444#comments Wed, 26 Nov 2014 00:29:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16444 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16444>Article Link</a> The world’s sovereign wealth funds (SWFs) are similar. They have billions, made either through the exploitation of a natural resource they were fortunate enough to find within their national boundaries (like most Middle East SWFs), or though the sheer hard work of the people of their sovereign territory (like the SWFs of China and Singapore). (more…)

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Concierge Treatment: Private Equity Courts Mega Sovereign Funds and Pensions http://www.opalesque.com/SWF_Briefing/?p=16443 http://www.opalesque.com/SWF_Briefing/?p=16443#comments Wed, 26 Nov 2014 00:28:49 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16443 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16443>Article Link</a> Over the past few years, sovereign wealth funds have gained a bit of leverage over private equity managers. Sovereign funds like Kuwait Investment Authority (KIA), China Investment Corporation (CIC) and Abu Dhabi Investment Authority (ADIA), have taken ownership stakes in headline private equity firms such as The Blackstone Group and The Carlyle Group. (more…)

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Why 2015 will be year for ME wealth funds http://www.opalesque.com/SWF_Briefing/?p=16442 http://www.opalesque.com/SWF_Briefing/?p=16442#comments Tue, 25 Nov 2014 01:32:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16442 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16442>Article Link</a> Middle East Sovereign Wealth Funds (SWFs) have been forced to navigate shifting economic currents at home and abroad as they seek to invest their oil-fuelled capital to generate the best returns for their stakeholders, according to a newly published KPMG report on SWFs in the Middle East. (more…)

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Yonhap: KIC to retain BOA stake for time being: chief http://www.opalesque.com/SWF_Briefing/?p=16441 http://www.opalesque.com/SWF_Briefing/?p=16441#comments Tue, 25 Nov 2014 01:31:34 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16441 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16441>Article Link</a> The head of South Korea’s sovereign wealth fund on Monday apologized for its botched investment in Bank of America (BoA) but stressed it plans to retain the stake for the time being to minimize losses. “I believe that it was a poor investment and apologize to the people of Korea. I promise that Korea Investment Corp. (KIC) will remember the painful lesson from the Merrill Lynch investment and become a global sovereign wealth fund,” KIC chief executive Ahn Hong-chul said. (more…)

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High court judges orders Goldman Sachs to disclose Libya profits http://www.opalesque.com/SWF_Briefing/?p=16440 http://www.opalesque.com/SWF_Briefing/?p=16440#comments Tue, 25 Nov 2014 01:31:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16440 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16440>Article Link</a> Libyan sovereign wealth fund, which is suing Goldman, estimates the US investment bank made $350m in upfront profit on nine derivatives products. A high court judge has ordered Goldman Sachs to reveal how much profit it made on a deal that lost Libya’s government more than $1bn when financial bets turned sour. (more…)

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Goldman Sachs Told to Reveal Libya Transaction Profits http://www.opalesque.com/SWF_Briefing/?p=16439 http://www.opalesque.com/SWF_Briefing/?p=16439#comments Tue, 25 Nov 2014 01:30:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16439 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16439>Article Link</a> A London judge said Goldman Sachs Group Inc. (GS) should reveal how much money it made from transactions with Libya’s sovereign wealth fund at the center of a $1 billion lawsuit. The bank should tell the Libyan Investment Authority what its profits were on the disputed trades, and how it calculated them, Judge Vivien Rose said at a London court hearing. (more…)

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Mubadala-owned Healthpoint and Manchester City in three-year deal http://www.opalesque.com/SWF_Briefing/?p=16438 http://www.opalesque.com/SWF_Briefing/?p=16438#comments Tue, 25 Nov 2014 01:30:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16438 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16438>Article Link</a> Mubadala-owned medical company Healthpoint has agreed to a three-year deal to become Manchester City’s regional healthcare provider and partner. Healthpoint, which specialises in orthopaedics, sports medicine, and physical therapy, will provide clinical and rehabilitation services to Manchester City footballers. (more…)

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Sovereign Wealth Fund Divestment as an Environmental Protection Strategy http://www.opalesque.com/SWF_Briefing/?p=16437 http://www.opalesque.com/SWF_Briefing/?p=16437#comments Mon, 24 Nov 2014 01:51:54 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16437 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16437>Article Link</a> Divestment (also known as disinvestment) generally entails the use of economic means to pressure an entity, such as a corporation or government, towards a change in its policies or practices. It usually involves the reduction of an asset to achieve an ethical objective. (more…)

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Norway’s largest pension fund vows to drop coal mine holdings http://www.opalesque.com/SWF_Briefing/?p=16436 http://www.opalesque.com/SWF_Briefing/?p=16436#comments Mon, 24 Nov 2014 01:51:38 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16436 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16436>Article Link</a> Norway’s largest pension fund has vowed to drop its holdings in coal miners, intensifying pressure on the coal industry from global investors. The NKr470bn ($70bn) KLP pension scheme, which manages the retirement assets of Norway’s public sector workers, will blacklist companies that derive more than 50 per cent of their revenues from coal-based activities. (more…)

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Sovereign wealth fund acquisitions surge as confidence returns http://www.opalesque.com/SWF_Briefing/?p=16435 http://www.opalesque.com/SWF_Briefing/?p=16435#comments Mon, 24 Nov 2014 01:51:21 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16435 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16435>Article Link</a> Sovereign wealth funds are buying up assets this year at their fastest rate since the financial crisis as these state-run pools of assets regain the confidence lost when big punts on western banks turned sour, Thomson Reuters data shows. (more…)

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QIA building top-end hotel portfolio worldwide http://www.opalesque.com/SWF_Briefing/?p=16434 http://www.opalesque.com/SWF_Briefing/?p=16434#comments Mon, 24 Nov 2014 01:50:58 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16434 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16434>Article Link</a> Qatar’s sovereign wealth fund, Qatar Investment Authority (QIA), is building a global top-end hotel portfolio. QIA displayed strong interests in global hotels and tourism facilities last year, according to a new report. (more…)

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QIA dismisses oil prices effect http://www.opalesque.com/SWF_Briefing/?p=16433 http://www.opalesque.com/SWF_Briefing/?p=16433#comments Mon, 24 Nov 2014 01:50:37 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16433 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16433>Article Link</a> Despite this impacting on the finances of the oil-dependent Gulf States, Qatar Investment Authority (QIA) will not change its investment strategy, the sovereign wealth fund’s chief executive stated, reported in the Gulf Daily News. (more…)

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Qatar Investment Authority to set up training academy http://www.opalesque.com/SWF_Briefing/?p=16432 http://www.opalesque.com/SWF_Briefing/?p=16432#comments Mon, 24 Nov 2014 01:50:17 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16432 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16432>Article Link</a> Qatar Investment Authority ( QIA ), the country’s sovereign wealth fund managing billions of dollars in assets, plans to set up a training academy to hone Qatari youth’s financial and business skills and meet the growing demand for qualified business and finance professionals in Qatar which is witnessing economic boom. (more…)

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Looking beyond Sovereign Wealth Fund http://www.opalesque.com/SWF_Briefing/?p=16431 http://www.opalesque.com/SWF_Briefing/?p=16431#comments Mon, 24 Nov 2014 01:50:01 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16431 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16431>Article Link</a> A Sovereign Wealth Fund (SWF) is a special purpose investment fund that is owned by the government. In general, these funds hold financial assets such as stocks, bonds, property or precious metals. (more…)

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Is the Future Fund falling behind the divestment curve? http://www.opalesque.com/SWF_Briefing/?p=16430 http://www.opalesque.com/SWF_Briefing/?p=16430#comments Mon, 24 Nov 2014 01:49:23 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16430 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16430>Article Link</a> When questioned in Parliament on Thursday about why the Future Fund has not divested from fossil fuels, Chairman Peter Costello was quick to respond that the fund’s only mandate is to deliver investment returns. (more…)

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Qatar Wealth Fund Says Oil’s Slump Won’t Derail Strategy http://www.opalesque.com/SWF_Briefing/?p=16429 http://www.opalesque.com/SWF_Briefing/?p=16429#comments Fri, 21 Nov 2014 01:26:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16429 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16429>Article Link</a> Qatar’s sovereign-wealth fund, which controls more than $100 billion of assets, said the slump in crude prices won’t lead to a change in its investment plans. “We’ve been created to avoid the volatility in oil price,” Ahmed Al-Sayed, chief executive officer of the Qatar Investment Authority, told reporters in Doha today. “We are already adjusted and ready for such a scenario.” (more…)

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Volatile oil prices will not affect Qatar wealth fund strategy - CEO http://www.opalesque.com/SWF_Briefing/?p=16428 http://www.opalesque.com/SWF_Briefing/?p=16428#comments Fri, 21 Nov 2014 01:26:09 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16428 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16428>Article Link</a> Volatile oil prices will not force the Qatar Investment Authority (QIA) to change its investment strategy, the sovereign wealth fund’s chief executive said on Thursday. A plunge in prices - benchmark Brent crude fell to more than a four-year low of below $77 per barrel last week - is hitting the finances of Gulf Arab oil exporting countries, which rely on crude and gas sales for most of state revenue. (more…)

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QIA plans to invest up to $20bn in ‘Greater Asia’ over five years http://www.opalesque.com/SWF_Briefing/?p=16427 http://www.opalesque.com/SWF_Briefing/?p=16427#comments Fri, 21 Nov 2014 01:25:44 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16427 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16427>Article Link</a> Qatar’s sovereign wealth fund plans to invest up to $20bn in “Greater Asia” over the next five years as part of portfolio diversification, said Qatar Investment Authority chief executive officer, HE Ahmed al-Sayed. (more…)

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Qatar in talks to fund UK high-speed rail plan http://www.opalesque.com/SWF_Briefing/?p=16426 http://www.opalesque.com/SWF_Briefing/?p=16426#comments Fri, 21 Nov 2014 01:25:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16426 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16426>Article Link</a> Qatar is interested in investing billions of dollars in infrastructure around the north of England, the Financial Times reported on Tuesday. The report claimed the Qatari royal family has informed British ministers it is interested in investing in infrastructure opportunities around the new HS2 high-speed rail line, which will link London to Birmingham, then Leeds and Manchester. (more…)

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Drop in oil prices takes no toll on sovereign funds - IFSWF chairman http://www.opalesque.com/SWF_Briefing/?p=16425 http://www.opalesque.com/SWF_Briefing/?p=16425#comments Fri, 21 Nov 2014 01:25:06 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16425 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16425>Article Link</a> Sovereign wealth funds (SWFs) are not likely to be influenced by the current fall of oil prices, chairman of the International Forum for Sovereign Wealth Funds (IFSWF) Bader Al-Saad said on Thursday. SWFs mostly depend on long-term investments and do not react to a rise or fall of goods prices,, Al-Saad told KUNA on the sidelines of the Sixth IFSWF that kicked off in Doha earlier today. (more…)

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Volatile oil prices ‘won’t affect Qatar wealth fund plans’ http://www.opalesque.com/SWF_Briefing/?p=16424 http://www.opalesque.com/SWF_Briefing/?p=16424#comments Fri, 21 Nov 2014 01:24:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16424 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16424>Article Link</a> Volatile oil prices will not force the Qatar Investment Authority (QIA) to change its investment strategy, the sovereign wealth fund’s chief executive said on Thursday. A plunge in prices - benchmark Brent crude fell to more than a four-year low of below $77 per barrel last week - is hitting the finances of Gulf Arab oil exporting countries, which rely on crude and gas sales for most of state revenue. (more…)

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SWFs’ Doha meeting adopts three-year strategic plan to enhance investments http://www.opalesque.com/SWF_Briefing/?p=16423 http://www.opalesque.com/SWF_Briefing/?p=16423#comments Fri, 21 Nov 2014 01:24:32 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16423 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16423>Article Link</a> World’s leading sovereign wealth funds (SWFs) yesterday unanimously agreed upon a “Doha Agreement”, adopting a three-year strategic plan to ensure free flow of long-term global capital and strong real returns for the progeny; even as they asked recipient countries to be more transparent. (more…)

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IFSWF members sign “The Doha Agreement” in Qatar http://www.opalesque.com/SWF_Briefing/?p=16422 http://www.opalesque.com/SWF_Briefing/?p=16422#comments Fri, 21 Nov 2014 01:24:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16422 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16422>Article Link</a> Members of the International Forum of Sovereign Wealth Funds (IFSWF) signed “The Doha Agreement” at their sixth annual meeting in the Qatari capital on Thursday. The Doha Agreement guarantees IFSWF’s independency, legal personality, independent budget, and headquarters in London, UK, after being affiliated with the International Monetary Fund (IMF). (more…)

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Sovereign fund forum has no plan to include central banks - official http://www.opalesque.com/SWF_Briefing/?p=16421 http://www.opalesque.com/SWF_Briefing/?p=16421#comments Fri, 21 Nov 2014 01:23:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16421 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16421>Article Link</a> The International Forum of Sovereign Wealth Funds (IFSWF) will not invite central banks to join its ranks as they do not fit the group’s definition of such a fund, a board member said on Thursday. (more…)

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World Bank underscores SWFs’ role in improving access to risk capita http://www.opalesque.com/SWF_Briefing/?p=16420 http://www.opalesque.com/SWF_Briefing/?p=16420#comments Fri, 21 Nov 2014 01:23:36 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16420 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16420>Article Link</a> Sovereign Wealth Funds (SWFs) play a vital role in providing small and medium-sized enterprises (SMEs) improved access to risk capital, which could help contribute to job generation and sustained growth, a World Bank official said. (more…)

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RDIF joins International Forum of Sovereign Wealth Funds http://www.opalesque.com/SWF_Briefing/?p=16419 http://www.opalesque.com/SWF_Briefing/?p=16419#comments Fri, 21 Nov 2014 01:23:24 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16419 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16419>Article Link</a> The Russian Direct Investment Fund (RDIF) is representing Russia at the International Forum of Sovereign Wealth Funds (IFSWF) - an organisation that brings together the world’s leading sovereign wealth funds and government-run pension funds. (more…)

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RDIF Funneling More Chinese, Middle Eastern Money Into Russia http://www.opalesque.com/SWF_Briefing/?p=16418 http://www.opalesque.com/SWF_Briefing/?p=16418#comments Fri, 21 Nov 2014 01:22:39 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16418 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16418>Article Link</a> The $10 billionRussian Direct Investment Fund is funneling more Chinese and Middle Eastern money into Russia’s ailing economy, partly compensating for a decline in Western-led activity in the face of geopolitical tensions. (more…)

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‘Be fair’ as 1MDB does good things too, deputy minister tells critics http://www.opalesque.com/SWF_Briefing/?p=16417 http://www.opalesque.com/SWF_Briefing/?p=16417#comments Fri, 21 Nov 2014 01:22:07 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16417 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16417>Article Link</a> Deputy Finance Minister Ahmad Maslan revealed today that 1Malaysia Development Berhad (1MDB) had spent a total of RM382.3 million on social initiatives, making it the biggest contributor among state-owned companies. In an attempt to deflect the bad publicity the government investment firm has been getting in the past months, Ahmad appealed to the public to look at the fund’s “positive” efforts. (more…)

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Temasek, Winklevoss invest in US start-up which predicts outcome of legislation http://www.opalesque.com/SWF_Briefing/?p=16416 http://www.opalesque.com/SWF_Briefing/?p=16416#comments Fri, 21 Nov 2014 01:21:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16416 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16416>Article Link</a> Temasek Holdings has invested in a Washington-based start-up which uses artificial intelligence to predict the outcome of legislation. According to The Washington Post, FiscalNote has closed a US$7 million round of funding from a raft of big names, including the Singapore sovereign wealth fund and the Winklevoss twins, famous for their lawsuits against Facebook and its founder, Mark Zuckerberg. (more…)

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Reverse Logistics may raise $125 million, step into new markets http://www.opalesque.com/SWF_Briefing/?p=16415 http://www.opalesque.com/SWF_Briefing/?p=16415#comments Fri, 21 Nov 2014 01:20:55 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16415 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16415>Article Link</a> Refurbished goods retailer Reverse Logistics Corps, which owns and operates GreenDust.com, is in talks with global hedge funds and wealth funds to raise about $125 million (Rs 772 crore) in another round of funding. Among those the Delhi-based company is talking to for Series B capital are Temasek, the sovereign investment arm of the government of Singapore, and hedge fund Falcon Edge Capital, according to two persons privy to the development. (more…)

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Future Fund invests in fossil fuels but not tobacco http://www.opalesque.com/SWF_Briefing/?p=16414 http://www.opalesque.com/SWF_Briefing/?p=16414#comments Fri, 21 Nov 2014 01:20:38 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16414 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16414>Article Link</a> Former treasurer Peter Costello has defended the Future Fund’s investment decisions during a sometimes feisty Senate estimates hearing in Canberra. Mr Costello, who is the chairman of the fund, was questioned about why the fund continued to invest in fossil fuels given its decision to stop investing in tobacco companies. (more…)

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Alaska Permanent Fund posts -1.2% return for quarter http://www.opalesque.com/SWF_Briefing/?p=16413 http://www.opalesque.com/SWF_Briefing/?p=16413#comments Fri, 21 Nov 2014 01:20:18 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16413 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16413>Article Link</a> Alaska Permanent Fund Corp., Juneau, returned -1.2% for the quarter ended Sept. 30, slightly above its benchmark return of -1.6%, said a news release from the $50.7 billion sovereign wealth fund. (more…)

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A Sovereign Wealth Fund For The Eurozone? http://www.opalesque.com/SWF_Briefing/?p=16412 http://www.opalesque.com/SWF_Briefing/?p=16412#comments Thu, 20 Nov 2014 02:51:29 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16412 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16412>Article Link</a> Social Europe Journal has just published its latest Research Essay “Public Capital in the 21st Century” by Giacomo Corneo. The main argument of the paper is that the state should become a kind of investment state in order to make sure that high returns on capital do not further increase inequality but benefit the wider public. (more…)

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Faraj Guliyev: “SOFAZ should reconsider ruble policy” http://www.opalesque.com/SWF_Briefing/?p=16411 http://www.opalesque.com/SWF_Briefing/?p=16411#comments Thu, 20 Nov 2014 02:50:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16411 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16411>Article Link</a> State Oil Fund of Azerbaijan should reconsider ruble policy, said the MP Faraj Guliyev in the discussion of budget package for 2015 at the plenary meeting of Azerbaijani Parliament. (more…)

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Consumer inflation exceeds core inflation for the third straight month in Azerbaijan http://www.opalesque.com/SWF_Briefing/?p=16410 http://www.opalesque.com/SWF_Briefing/?p=16410#comments Thu, 20 Nov 2014 02:50:29 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16410 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16410>Article Link</a> Parliament of Azerbaijan clamped down on an attempt to withdraw assets of the State Oil Fund of Azerbaijan (SOFAZ) from the world markets in order to decrease internal loan rate to 2%. Valeh Alasgarov, Vice Speaker of the Parliament, called for the deputies to stop speculative talks on impact of fall in the world oil prices to the economy of the country and on withdrawal of SOFAZ assets from foreign markets. (more…)

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Krone-Oil Ties Show Cracks as Norway Curbs Deflation: Currencies http://www.opalesque.com/SWF_Briefing/?p=16409 http://www.opalesque.com/SWF_Briefing/?p=16409#comments Thu, 20 Nov 2014 02:49:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16409 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16409>Article Link</a> Norway’s government funnels most of its oil revenue into its sovereign-wealth fund, the world’s largest. Prime Minister Erna Solberg, who came to office last year, has cut taxes to boost productivity in the mainland economy and said Norway needs to diversify away from oil. (more…)

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Kazakhstan’s Alliance Bank says completes debt restructuring http://www.opalesque.com/SWF_Briefing/?p=16408 http://www.opalesque.com/SWF_Briefing/?p=16408#comments Thu, 20 Nov 2014 02:49:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16408 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16408>Article Link</a> Kazakhstan’s Alliance Bank has completed a $1.2 billion debt restructuring and the country’s sovereign wealth fund will put 220 billion tenge ($1.2 billion) of special deposits into the bank to support the deal, Alliance’s chief executive said on Wednesday. (more…)

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Kazakhstan SWF to Sponsor Turkish Football Giant? http://www.opalesque.com/SWF_Briefing/?p=16407 http://www.opalesque.com/SWF_Briefing/?p=16407#comments Thu, 20 Nov 2014 02:48:06 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16407 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16407>Article Link</a> Footballers for Galatasaray, the legendary Turkish club, may soon be wearing the name of Kazakhstan’s capital, Astana, across their chests. Kazakhstan’s sovereign-wealth fund, Samruk-Kazyna, is rumored to be close to signing a five-year, $50 million deal to sponsor Galatasaray, Turkish media has reported. (more…)

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FiscalNote snares $7 million in investments from Winklevoss, Singapore wealth fund http://www.opalesque.com/SWF_Briefing/?p=16406 http://www.opalesque.com/SWF_Briefing/?p=16406#comments Thu, 20 Nov 2014 02:47:30 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16406 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16406>Article Link</a> A District-based start-up that uses artificial intelligence to predict the outcome of legislation has received $7 million in funding, including investments from the Singapore sovereign wealth fund and from the Winklevoss twins, made famous from their lawsuits against Facebook. (more…)

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Panama has rising fiscal deficits, despite strong growth: Moody’s http://www.opalesque.com/SWF_Briefing/?p=16405 http://www.opalesque.com/SWF_Briefing/?p=16405#comments Thu, 20 Nov 2014 02:46:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16405 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16405>Article Link</a> Additionally, two important institutional arrangements in the fiscal arena are the Social Fiscal Responsibility Law (SFRL) and a sovereign wealth fund (Fondo de Ahorro de Panama, or FAP), although they have had a limited and somewhat questionable track-record. Over the past few years, authorities have repeatedly circumvented the deficit ceiling defined by the SFRL through a series of waivers and changes. (more…)

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Bahrain’s Mumtalakat Said to Raise $600 Million From Sukuk http://www.opalesque.com/SWF_Briefing/?p=16404 http://www.opalesque.com/SWF_Briefing/?p=16404#comments Wed, 19 Nov 2014 01:54:42 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16404 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16404>Article Link</a> Bahrain Mumtalakat Holding Co., the Gulf country’s sovereign wealth fund, raised $600 million from the sale of Islamic bonds, according to a person familiar with the deal, as it seeks funds to refinance debt. (more…)

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Bahraini fund Mumtalakat launches $600 mln seven-year sukuk http://www.opalesque.com/SWF_Briefing/?p=16403 http://www.opalesque.com/SWF_Briefing/?p=16403#comments Wed, 19 Nov 2014 01:54:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16403 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16403>Article Link</a> Bahrain sovereign fund Mumtalakat has launched a $600 million seven-year sukuk at the tight end of its previously-marketed price range, with the sale set to complete later on Tuesday, a document from lead managers said. (more…)

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Singapore’s Temasek invests in Tel Aviv University technology http://www.opalesque.com/SWF_Briefing/?p=16402 http://www.opalesque.com/SWF_Briefing/?p=16402#comments Wed, 19 Nov 2014 01:54:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16402 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16402>Article Link</a> Singapore-based investment company Temasek agreed to help fund new technologies emerging from research at Tel Aviv University, the university’s technology company Ramot said. Temasek agreed with Ramot to invest $5 million in the $23.5 million Momentum Fund, which selected six technologies earlier in 2014 and is in the process of choosing another four to six. (more…)

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1MDB Criticized by Lawmakers Before Sukuk Sale: Islamic Finance http://www.opalesque.com/SWF_Briefing/?p=16401 http://www.opalesque.com/SWF_Briefing/?p=16401#comments Wed, 19 Nov 2014 01:53:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16401 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16401>Article Link</a> Malaysia’s opposition lawmakers are criticizing rising debt at the sovereign wealth fund as the company plans to sell the nation’s biggest sukuk of 2014. 1Malaysia Development Bhd.’s power unit is seeking to raise 8.4 billion ringgit ($2.5 billion) before year-end, which will increase its outstanding debt to $15 billion, data compiled by Bloomberg show. (more…)

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1MDB made RM1.6 billion from Cayman deal, says chairman http://www.opalesque.com/SWF_Briefing/?p=16400 http://www.opalesque.com/SWF_Briefing/?p=16400#comments Wed, 19 Nov 2014 01:50:59 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16400 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16400>Article Link</a> The chairman of scandal-ridden 1Malaysia Development Berhad (1MDB) said the move to park funds in the Cayman Islands had yielded a profit of US$488 million (RM1.63 billion) from an initial investment of US$1.8 billion in an oil and gas venture. (more…)

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1MDB managed competently http://www.opalesque.com/SWF_Briefing/?p=16399 http://www.opalesque.com/SWF_Briefing/?p=16399#comments Wed, 19 Nov 2014 01:50:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16399 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16399>Article Link</a> Overly leveraged is the oft repeated criticism of detractors of 1Malaysia Development Berhad (1MDB), the nation’s strategic development company. Other accusations include the issue of the company’s lack of transparency, a fair demand on a state-owned investment arm. Once the Terengganu Investment Company, a sovereign wealth fund for the state, it was renamed 1MDB in 2009. (more…)

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Irish sovereign fund to consider social housing investment http://www.opalesque.com/SWF_Briefing/?p=16398 http://www.opalesque.com/SWF_Briefing/?p=16398#comments Tue, 18 Nov 2014 01:52:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16398 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16398>Article Link</a> Ireland’s sovereign wealth fund would be open to investing in social housing but will be careful not to allocate too much of its €7bn capital to low economic impact projects, according to its head of infrastructure and credit. (more…)

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Afraid of ‘difficult’ questions? Ahmad Maslan CHICKENS OUT of 1MDB forum http://www.opalesque.com/SWF_Briefing/?p=16397 http://www.opalesque.com/SWF_Briefing/?p=16397#comments Tue, 18 Nov 2014 01:51:55 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16397 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16397>Article Link</a> Deputy Finance Minister Datuk Ahmad Maslan said today that he did not receive an invite to Pakatan Rakyat’s forum on 1Malaysia Development Berhad (1MDB), despite the forum’s promotional poster featuring him as a speaker, and that he will not be attending it. (more…)

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1MDB abusing proceeds from US$3 billion bond, says DAP lawmaker http://www.opalesque.com/SWF_Briefing/?p=16396 http://www.opalesque.com/SWF_Briefing/?p=16396#comments Tue, 18 Nov 2014 01:51:34 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16396 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16396>Article Link</a> In another twist to the 1Malaysia Development Bhd (1MDB) saga, a federal lawmaker has claimed that the state sovereign fund is diverting part of the proceeds of the US$3 billion (RM9.6 billion) loan raised by its subsidiary to fund operating expenses and pay off its burgeoning debts. (more…)

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Bahrain’s Mumtalakat sets initial price guidance for up-to-$600 mln sukuk http://www.opalesque.com/SWF_Briefing/?p=16395 http://www.opalesque.com/SWF_Briefing/?p=16395#comments Tue, 18 Nov 2014 01:51:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16395 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16395>Article Link</a> Bahrain sovereign fund Mumtalakat has opened order books after setting initial price guidance for an up-to-$600 million seven-year Islamic bond offering, a document from lead managers said. (more…)

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