Opalesque Sovereign Wealth Funds Briefing http://www.opalesque.com/SWF_Briefing Thu, 30 Jul 2015 01:19:34 +0000 http://wordpress.org/?v=2.5.1 en Singapore GIC Reports Higher Return, Cautions on Market Outlook http://www.opalesque.com/SWF_Briefing/?p=17986 http://www.opalesque.com/SWF_Briefing/?p=17986#comments Thu, 30 Jul 2015 01:19:34 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17986 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17986>Article Link</a> GIC Pte, manager of more than $100 billion of Singapore’s reserves, said its key performance measure improved but warned that higher global interest rates could dent future returns. Buoyant global markets helped GIC’s annualized real rate of return rise to 4.9 percent in the 20-year period to March 31, from 4.1 percent in the 20 years that ended in March 2014, according to the sovereign wealth fund’s annual report. GIC doesn’t issue annual performance figures. (more…)

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GIC posts 4.9% return in past 20 years; sees tougher times ahead http://www.opalesque.com/SWF_Briefing/?p=17985 http://www.opalesque.com/SWF_Briefing/?p=17985#comments Thu, 30 Jul 2015 01:19:16 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17985 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17985>Article Link</a> The sovereign wealth fund says volatile markets could chip away at its returns in the next five to 10 years, and short-term losses are possible. GIC posted annualised real returns of 4.9 per cent in the past 20 years ending on March 31, 2015 - higher than 2014’s 20-year real return of 4.1 per cent. (more…)

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GIC builds up real estate assets for steady returns http://www.opalesque.com/SWF_Briefing/?p=17983 http://www.opalesque.com/SWF_Briefing/?p=17983#comments Thu, 30 Jul 2015 01:19:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17983 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17983>Article Link</a> Sovereign wealth fund GIC has been acquiring more real estate assets in recent years, and is keeping its ear to the ground for more deals, even as competition in the sector intensifies. Toppish asset prices and lower returns will define the broader investment environment for the next 10 years, but GIC can use its 30 years’ experience in real estate investing to earn steady returns, said group chief investment officer Lim Chow Kiat yesterday. (more…)

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Singapore’s GIC sees opportunities in China market turmoil http://www.opalesque.com/SWF_Briefing/?p=17984 http://www.opalesque.com/SWF_Briefing/?p=17984#comments Thu, 30 Jul 2015 01:18:56 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17984 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17984>Article Link</a> Singapore sovereign wealth fund GIC is finding fresh opportunities to invest in the volatile China market amid restrictions imposed by the regulator on investors who own large stakes in Chinese companies. “It did open up some opportunities for people like us which take a longer-term view and we don’t have such kinds of liquidity constraints. That is a clear positive,” Lim Chow Kiat, group chief investment officer, told Reuters as the fund unveiled its annual report. (more…)

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CIC Launches Subsidiary to Invest in Overseas Projects http://www.opalesque.com/SWF_Briefing/?p=17982 http://www.opalesque.com/SWF_Briefing/?p=17982#comments Thu, 30 Jul 2015 01:18:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17982 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17982>Article Link</a> China’s sovereign wealth fund has launched a subsidiary to handle investment in overseas infrastructure projects as part of government efforts to expand business abroad to shore up growth. China Investment Corp. held a ceremony to launch its new subsidiary, CIC Capital Corp., on July 27. The subsidiary will focus on infrastructure, agricultural, forestry and fishery projects abroad. (more…)

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CIC Capital Officially Launched, Targets $100bln In Total Capacity http://www.opalesque.com/SWF_Briefing/?p=17981 http://www.opalesque.com/SWF_Briefing/?p=17981#comments Thu, 30 Jul 2015 01:18:23 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17981 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17981>Article Link</a> An overseas direct investment fund launched by China Investment Corporation earlier this year has officially begun operation, and plans to reach US$100 billion in total investment capacity eventually, according to Chinese media reports. (more…)

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Chinese sovereign fund to buy biggest Aussie office assets http://www.opalesque.com/SWF_Briefing/?p=17980 http://www.opalesque.com/SWF_Briefing/?p=17980#comments Thu, 30 Jul 2015 01:18:09 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17980 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17980>Article Link</a> Sovereign fund China Investment Corp (CIC) plans to buy Australia’s biggest office block portfolio from Morgan Stanley for US$1.82 billion (S$2.5 billion), highlighting Beijing’s appetite for stable assets offshore as the mainland economy sputters. CIC, which established its international unit in 2011 to invest in overseas assets, will acquire the nine office buildings, held by Investa Property Trust, from Morgan Stanley Real Estate Investing, the US firm said in a statement on Monday. (more…)

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Sovereign wealth funds step up property investments in Asia http://www.opalesque.com/SWF_Briefing/?p=17979 http://www.opalesque.com/SWF_Briefing/?p=17979#comments Thu, 30 Jul 2015 01:17:51 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17979 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17979>Article Link</a> Sovereign wealth funds around the world are pouring money into Asian property to diversify their portfolios as real estate prices surge in major Western cities. The looming U.S. interest rate hike has prompted investors to shift from short-term investments in Asia into the region’s real estate. (more…)

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Fifth of Libya’s wealth fund untraced since Gaddafi http://www.opalesque.com/SWF_Briefing/?p=17978 http://www.opalesque.com/SWF_Briefing/?p=17978#comments Thu, 30 Jul 2015 01:17:36 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17978 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17978>Article Link</a> An estimated 20 percent of Libya’s $67bn-plus sovereign wealth fund, the Libyan Investment Authority (LIA), has yet to be fully traced since the death of Colonel Gaddafi. The LIA appointed Deloitte in 2012 to conduct an audit of all of its assets – many of which are tied up in investments outside the country. (more…)

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LAP preparing ‘‘aggressive’’ rescue plan for LAP GreenN: to invest in new technology and growth http://www.opalesque.com/SWF_Briefing/?p=17977 http://www.opalesque.com/SWF_Briefing/?p=17977#comments Thu, 30 Jul 2015 01:17:24 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17977 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17977>Article Link</a> The Libya Africa Portfolio (LAIP or LAP) is preparing an aggressive rescue plan for its troubled African telecoms subsidiary LAP GreenN, Libya Herald has learnt. LAIP is a wholly-owned subsidiary of the Libyan Investment Authority (LIA), Libya’s main sovereign wealth fund entity. (more…)

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Qatar-Backed Mining Fund Said to Scrap Expansion Plans on Rout http://www.opalesque.com/SWF_Briefing/?p=17976 http://www.opalesque.com/SWF_Briefing/?p=17976#comments Thu, 30 Jul 2015 01:17:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17976 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17976>Article Link</a> QKR Corp., a mining fund headed by former JPMorgan Chase & Co. banker Lloyd Pengilly and backed by Qatar’s sovereign wealth fund, has scrapped plans to expand amid a plunge in commodities, according to four people familiar with the situation. (more…)

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QIA JV to build 57-storey residential tower in London http://www.opalesque.com/SWF_Briefing/?p=17975 http://www.opalesque.com/SWF_Briefing/?p=17975#comments Thu, 30 Jul 2015 01:16:58 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17975 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17975>Article Link</a> Canary Wharf Group, a wholly owned joint venture between Brookfield Property Partners and the Qatar Investment Authority , has received planning approval to build a striking residential tower at its New Phase site (formerly known as Wood Wharf). (more…)

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Ireland Strategic Investment Fund forms residential lending platform with KKR http://www.opalesque.com/SWF_Briefing/?p=17974 http://www.opalesque.com/SWF_Briefing/?p=17974#comments Thu, 30 Jul 2015 01:16:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17974 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17974>Article Link</a> The Ireland Strategic Investment Fund, Dublin, Ireland, formed a €500 million ($549 million) joint venture with KKR Credit, which will lend to Irish residential development projects. The joint venture, Activate Capital, is a lending platform that could finance the construction of more than 11,000 new homes in Ireland. The platform will lend on a commercial basis to projects, providing companies with loans for up to 90% of the total financing needed. (more…)

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Kazakhstan backs 2022 bid promises with oil fund http://www.opalesque.com/SWF_Briefing/?p=17973 http://www.opalesque.com/SWF_Briefing/?p=17973#comments Thu, 30 Jul 2015 01:16:36 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17973 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17973>Article Link</a> Kazakhstan will break into its $70 billion sovereign wealth fund to help pay the bills if it wins the 2022 Winter Olympics, Prime Minister Karim Massimov said yesterday ahead of an IOC vote. The International Olympic Committee, which will vote between the former Kazakh capital of Almaty and Beijing on Friday, has said the Central Asian republic’s reliance on oil revenues is a risk. (more…)

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Kazakh wealth fund to sell 10 pct in state oil firm KMG to central bank http://www.opalesque.com/SWF_Briefing/?p=17972 http://www.opalesque.com/SWF_Briefing/?p=17972#comments Thu, 30 Jul 2015 01:16:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17972 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17972>Article Link</a> Kazakhstan’s sovereign wealth fund will sell 10 percent of shares in state oil firm KazMunaiGas to the central bank, the government said on Wednesday, in a move aimed at easing the debt burden of a company hit by low oil prices. (more…)

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Southern Gas Corridor’s capitalization increases by over 7 times http://www.opalesque.com/SWF_Briefing/?p=17971 http://www.opalesque.com/SWF_Briefing/?p=17971#comments Thu, 30 Jul 2015 01:16:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17971 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17971>Article Link</a> The Southern Gas Corridor CJSC’s registered capital increased up to $725 million upon the decisions of the Supervisory Board and the Shareholders’ Meeting, the State Oil Fund of Azerbaijan (SOFAZ) said. The company’s initial capital amounted to $100 million. But its capital increased to $300 million in February 2015 as a result of changes in the nominal share of the company. (more…)

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The major role of sovereign investors in the global economy: A European perspective http://www.opalesque.com/SWF_Briefing/?p=17970 http://www.opalesque.com/SWF_Briefing/?p=17970#comments Thu, 30 Jul 2015 01:15:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17970 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17970>Article Link</a> The global economy has witnessed the emergence of a new set of key actors over the last two decades. Sovereign Wealth Funds (SWFs) and Pension Funds (PFs) – or Sovereign Investors – have become pivotal players in global financial markets thanks to their liquidity, and continue to grow rapidly in number and in size. This group of highly heterogeneous funds has different backgrounds, structures, and missions, but shares an ultimate goal: to preserve capital and maximize the return on investments. (more…)

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Sovereign wealth funds pick up in popularity http://www.opalesque.com/SWF_Briefing/?p=17969 http://www.opalesque.com/SWF_Briefing/?p=17969#comments Thu, 30 Jul 2015 01:15:36 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17969 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17969>Article Link</a> In recent years, sovereign wealth funds have grown in popularity, and subsequently, so too have their investment credentials. First appearing around the midpoint of last century, sovereign wealth funds (SWFs) have long occupied a significant space in financial markets. However it’s only in recent years that these rainy-day funds have come into their own. (more…)

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Will Goodman bear the cost of China’s $2.45bn Investa swoop? http://www.opalesque.com/SWF_Briefing/?p=17968 http://www.opalesque.com/SWF_Briefing/?p=17968#comments Wed, 29 Jul 2015 02:55:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17968 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17968>Article Link</a> China Investment Corporation’s $2.45 billion outlay on Investa’s portfolio of Australian skyscrapers has revived expectations the ­sovereign wealth fund will shed its $1bn-plus exposure to listed warehouser Goodman Group. While the Chinese heavyweight is not short on capital — its total assets under management climbed by $US93bn ($127bn) to $US750bn last year — the fund dislikes stakes in publicly owned property managers. (more…)

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Investa acquisition just another day at the office for CIC http://www.opalesque.com/SWF_Briefing/?p=17967 http://www.opalesque.com/SWF_Briefing/?p=17967#comments Wed, 29 Jul 2015 02:54:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17967 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17967>Article Link</a> It may be the biggest direct real estate transaction in Australia ever but China Investment Corporation’s acquisition of the $2.45 billion Investa portfolio of office towers is just the latest purchase in a $7 billion global property spend by the Chinese sovereign fund this year alone. (more…)

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SWF: Temasek rides China wave to near 20% return http://www.opalesque.com/SWF_Briefing/?p=17966 http://www.opalesque.com/SWF_Briefing/?p=17966#comments Wed, 29 Jul 2015 02:54:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17966 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17966>Article Link</a> Temasek has always looked a little bit different to other sovereign wealth funds. There’s the fact that it’s pretty much all in equities, for a start, either listed or a pre-listing stake; or that 70% of its portfolio is in Asia, with less than a third in what most investors consider the developed world. (more…)

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Singapore’s GIC comes as anchor investor in Syngene http://www.opalesque.com/SWF_Briefing/?p=17965 http://www.opalesque.com/SWF_Briefing/?p=17965#comments Wed, 29 Jul 2015 02:54:16 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17965 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17965>Article Link</a> Singapore’s GIC, one of the most active sovereign wealth funds in the country, is among the anchor investors which have together invested Rs 150 core in Syngene International Ltd, the research and development subsidiary of Indian biopharmaceutical major Biocon Ltd, as part of an initial public offer (IPO) of the company. (more…)

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Global Logistic Properties to Buy 200 U.S. Warehouses For $4.6 Billion http://www.opalesque.com/SWF_Briefing/?p=17964 http://www.opalesque.com/SWF_Briefing/?p=17964#comments Wed, 29 Jul 2015 02:54:04 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17964 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17964>Article Link</a> Global Logistic Properties, a warehouse owner part-owned by Singapore’s sovereign-wealth fund, said Tuesday it is acquiring about 200 U.S. warehouses for $4.6 billion in one of the largest real estate deals of the year. (more…)

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ADIA names head of Japan for the fund’s internal equities department http://www.opalesque.com/SWF_Briefing/?p=17963 http://www.opalesque.com/SWF_Briefing/?p=17963#comments Wed, 29 Jul 2015 02:53:53 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17963 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17963>Article Link</a> Hisashi Kuroda joined the Abu Dhabi Investment Authority’s internal equities department as head of Japan, ADIA announced in a news release Tuesday. Kuroda replaces David Greenhalgh, who left in mid-2014 after more than a decade with ADIA to become chief investment officer of London-based New Chapel Asset Management. (more…)

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UAE’s ADIA to buy $170m Irish property http://www.opalesque.com/SWF_Briefing/?p=17962 http://www.opalesque.com/SWF_Briefing/?p=17962#comments Wed, 29 Jul 2015 02:53:41 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17962 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17962>Article Link</a> Abu Dhabi Investment Authority (ADIA) will purchase a $170m site spanning seven acres in Dublin, Ireland. The site includes two hotels. ADIA will work with Irish developer Chartered Land to buy the two former Jurys and Berkeley Court hotels, located on one of Ireland’s most valuable properties. (more…)

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QIA JV to build 57-storey residential tower in London http://www.opalesque.com/SWF_Briefing/?p=17961 http://www.opalesque.com/SWF_Briefing/?p=17961#comments Wed, 29 Jul 2015 02:53:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17961 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17961>Article Link</a> Canary Wharf Group, a wholly owned joint venture between Brookfield Property Partners and the Qatar Investment Authority, has received planning approval to build a striking residential tower at its New Phase site (formerly known as Wood Wharf). (more…)

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Nigeria: Obi - Only the President Approves ECA Disbursement http://www.opalesque.com/SWF_Briefing/?p=17960 http://www.opalesque.com/SWF_Briefing/?p=17960#comments Wed, 29 Jul 2015 02:53:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17960 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17960>Article Link</a> A former Governor of Anambra State, Mr. Peter Obi, has condemned recent allegations that a former Minister of Finance, Dr. Ngozi Okonjo-Iweala, supervised the alleged embezzlement of some funds from the Excess Crude Account (ECA). (more…)

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Yuan joins top five basic currencies of Azerbaijan’s Oil Fund http://www.opalesque.com/SWF_Briefing/?p=17959 http://www.opalesque.com/SWF_Briefing/?p=17959#comments Wed, 29 Jul 2015 02:53:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17959 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17959>Article Link</a> Chinese yuan joins top five basic currencies of the State Oil Fund of Azerbaijan (SOFAZ). According to SOFAZ, as of July 1, 50.1% of its investment portfolio were denominated in U.S. dollars ($17.889 bn), 34% - in euro (€10.866million), 5.1% - in British pounds (£1.169bn), 1.8% - in Russian rubles (RUB 36.215 bn) and 1.4% - in yuan renminbi (CNY 3 bn). (more…)

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China’s CIC wins $2.45b Investa office portfolio http://www.opalesque.com/SWF_Briefing/?p=17958 http://www.opalesque.com/SWF_Briefing/?p=17958#comments Tue, 28 Jul 2015 01:21:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17958 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17958>Article Link</a> Chinese sovereign wealth fund China Investment Corporation (CIC) has won Investa Property Group’s portfolio of nine office towers with a knockout bid of more than $2.45 billion, making it the biggest direct real estate transaction in Australia’s history. (more…)

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China Sovereign Wealth Fund Breaks Record for Office Property Deal http://www.opalesque.com/SWF_Briefing/?p=17957 http://www.opalesque.com/SWF_Briefing/?p=17957#comments Tue, 28 Jul 2015 01:21:14 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17957 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17957>Article Link</a> One of the world’s largest sovereign wealth funds has acquired a nine-tower portfolio of office assets for a staggering $2.45 billion sum, in what is believed to be the largest direct property transaction in Australian history. An office deal clinched by sovereign wealth fund China Investment Corporation (CIC) has broken the record for the largest direct real estate transaction in the history of the Australian property market. (more…)

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Korea SWF announces its external managers of the year for 2014 http://www.opalesque.com/SWF_Briefing/?p=17956 http://www.opalesque.com/SWF_Briefing/?p=17956#comments Tue, 28 Jul 2015 01:21:04 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17956 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17956>Article Link</a> The $86 billion Korea Investment Corp. bestowed its “manager of the year” honor on AQR Capital Management for 2014, the second year in a row the sovereign wealth recognized the firm. But for the first time since the program’s 2010 launch, Seoul-based KIC honored managers in five separate categories instead of choosing a single manager. (more…)

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No pressure on Temasek to offload NOL, Drewry says http://www.opalesque.com/SWF_Briefing/?p=17955 http://www.opalesque.com/SWF_Briefing/?p=17955#comments Tue, 28 Jul 2015 01:20:49 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17955 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17955>Article Link</a> Singapore’s Temasek may be interested in offloading some of its underperforming companies such as NOL, but there is no pressing need for the immense state investor to do it on the cheap through a distressed sale, Drewry says. (more…)

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Libya in legal action on nationalisations http://www.opalesque.com/SWF_Briefing/?p=17954 http://www.opalesque.com/SWF_Briefing/?p=17954#comments Tue, 28 Jul 2015 01:20:36 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17954 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17954>Article Link</a> The Libyan Investment Authority has launched legal action against four African states alleging that they took advantage of Libya’s political turmoil to nationalise assets belonging to the $67bn sovereign wealth fund. Hassan Bouhadi, the LIA’s chairman who was appointed by the internationally recognised Tobruk government in October, said the legal action related to technology assets in Rwanda, Zambia, Chad and Niger. (more…)

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ADIA in bid for $1.9bn Irish shopping centre portfolio http://www.opalesque.com/SWF_Briefing/?p=17953 http://www.opalesque.com/SWF_Briefing/?p=17953#comments Tue, 28 Jul 2015 01:20:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17953 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17953>Article Link</a> Abu Dhabi’s sovereign wealth fund is reportedly in the running to purchase an Irish real estate loan portfolio valued at €1.7 billion ($1.9 billion). Abu Dhabi Investment Authority (ADIA) is understood to be a lead contender to buy Project Jewel – a loan portfolio that includes debt secured on Dundrum Town Centre, a 120,000 sq m shopping centre in Dublin, among others. (more…)

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State Oil Fund of Azerbaijan hasn’t bought physical gold for 5 quarters at a run http://www.opalesque.com/SWF_Briefing/?p=17952 http://www.opalesque.com/SWF_Briefing/?p=17952#comments Tue, 28 Jul 2015 01:20:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17952 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17952>Article Link</a> The State Oil Fund of Azerbaijan (SOFAZ) hasn’t bought physical gold for five quarters in a row (2nd, 3rd, 4th quarters of 2014, and 1st -2nd quarter of 2015). The Fund informs that as of 1 July 2015 it owned physical gold worth $1.14 bn (last quarter it was $1.15 bn) which was equal to 3.2% of its investment portfolio ($35.726 bn). (more…)

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Azerbaijan Oil Fund’s investment portfolio exceeds limit for 2015 by 32.8% http://www.opalesque.com/SWF_Briefing/?p=17951 http://www.opalesque.com/SWF_Briefing/?p=17951#comments Tue, 28 Jul 2015 01:19:59 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17951 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17951>Article Link</a> By 1 July the State Oil Fund of Azerbaijan exceeded the investment portfolio limit (AZN 28.2 bn) set for 2015 by 32.8%. According to the Fund, in the first half of 2015 its investment portfolio in manats, as the basic currency, grew from AZN 28.79 bn up to AZN 37.459 bn or by 30.1%. In Q2 growth made up AZN 959,000 or 2.6%. (more…)

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Sovereign, pension funds lose ground for nine months straight http://www.opalesque.com/SWF_Briefing/?p=17950 http://www.opalesque.com/SWF_Briefing/?p=17950#comments Tue, 28 Jul 2015 01:19:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17950 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17950>Article Link</a> The latest pension and sovereign wealth fund data shows that they account for a lesser proportion of the overall foreign portfolio investor (FPI) holdings than they did in the previous month. This was also true for the previous month, and the month before that. (more…)

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Sovereign Funds: 3 Portfolio Moves They Are Contemplating http://www.opalesque.com/SWF_Briefing/?p=17949 http://www.opalesque.com/SWF_Briefing/?p=17949#comments Tue, 28 Jul 2015 01:19:32 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17949 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17949>Article Link</a> Sovereign wealth funds like the Abu Dhabi Investment Council (ADIC) and GIC Private Limited often take tactical bets while maintaining their long-term investment views. For example, GIC is an investor in Mumbai-based Eros International Plc, an Indian moviemaker – betting on India’s growing consumer class. (more…)

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Kuwaiti MPs head to UK to check on SWF’s London office http://www.opalesque.com/SWF_Briefing/?p=17948 http://www.opalesque.com/SWF_Briefing/?p=17948#comments Mon, 27 Jul 2015 02:37:49 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17948 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17948>Article Link</a> Kuwaiti lawmakers scrutinising the country’s sovereign wealth fund departed to Britain on Friday to check the activities of its London bureau, Kuwait’s parliament said in a statement on the state news agency. (more…)

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Brazil sovereign fund earns $39 mln with Banco do Brasil share sale http://www.opalesque.com/SWF_Briefing/?p=17947 http://www.opalesque.com/SWF_Briefing/?p=17947#comments Mon, 27 Jul 2015 02:37:37 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17947 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17947>Article Link</a> Brazil’s sovereign wealth fund earned about 134 million reais ($39 million) with the disposal of 5.625 million shares of state-controlled Banco do Brasil SA between the end of June and mid-July. (more…)

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Iran’s foreign reserves total US$115-125 billion - minister http://www.opalesque.com/SWF_Briefing/?p=17946 http://www.opalesque.com/SWF_Briefing/?p=17946#comments Mon, 27 Jul 2015 02:37:24 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17946 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17946>Article Link</a> Iran’s foreign reserves total between US$115 billion and US$125 billion (£74.2 billion and £80.7 billion), including assets in its sovereign wealth fund, its industry minister said on Friday in one of the most detailed public descriptions of the reserves by an Iranian official. (more…)

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Qatar spurs glorious future for Goodwood http://www.opalesque.com/SWF_Briefing/?p=17945 http://www.opalesque.com/SWF_Briefing/?p=17945#comments Mon, 27 Jul 2015 02:37:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17945 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17945>Article Link</a> As a result of the investment by Qatar’s sovereign wealth fund – the Qatar Investment Authority (QIA) – total prize money has soared from £2 million (Dh11.4m) to £4.5m. One race alone, the Group 1 Qatar Sussex Stakes, will be run for £1m, £700,000 more than last year, and Goodwood says this makes it one of the most significant mile runs in the world. (more…)

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Abu Dhabi Investment Authority buying Irish hotels http://www.opalesque.com/SWF_Briefing/?p=17944 http://www.opalesque.com/SWF_Briefing/?p=17944#comments Mon, 27 Jul 2015 02:36:55 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17944 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17944>Article Link</a> Abu Dhabi Investment Authority (ADIA) is rumoured to be backing a US $170 million bid to buy the seven-acre Dublin site, including two hotels. ADIA has teamed up with Irish developer Chartered Land to buy the two former Jurys and Berkeley Court hotels, which sit on some of the most valuable land in Ireland, according to the Irish Independent. (more…)

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Saudis to Boost Investment in Russia http://www.opalesque.com/SWF_Briefing/?p=17943 http://www.opalesque.com/SWF_Briefing/?p=17943#comments Mon, 27 Jul 2015 02:36:37 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17943 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17943>Article Link</a> On 7 July, Saudi Arabia’s Public Investment Fund (PIF),the sovereign wealth fund of the Kingdom of Saudi Arabia declared its intent to follow through in co-investing up to $10 billion in the Russian Direct Investment Fund (RDIF). This is following up on a 21 June 2015 signing of a memorandum of understanding between the institutional partners.The RDIF was formed in 2011 in order to drive investment in high-growth sectors of Russia. (more…)

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Temasek chief Ho Ching extends sabbatical leave http://www.opalesque.com/SWF_Briefing/?p=17942 http://www.opalesque.com/SWF_Briefing/?p=17942#comments Mon, 27 Jul 2015 02:36:24 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17942 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17942>Article Link</a> Temasek Holdings said its chief executive officer Ho Ching has taken the option of extending her part-time sabbatical leave to six months. Her sabbatical will be completed in October. She will continue with her board duties and specific stewardship duties, the Singapore investment company said in a statement on its website. (more…)

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1MDB is a debt not wealth fund http://www.opalesque.com/SWF_Briefing/?p=17941 http://www.opalesque.com/SWF_Briefing/?p=17941#comments Mon, 27 Jul 2015 02:36:09 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17941 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17941>Article Link</a> Malaysia’s sovereign wealth creation vehicle, 1MDB, is today surviving on a lease extended by the sufferings of the wage earners. It is tax money, fuel price hikes and savings from institutions that seem to head to save 1MDB with urgently needed breathing space on time. (more…)

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SOFAZ announces H1 statement on revenue and expenditure http://www.opalesque.com/SWF_Briefing/?p=17940 http://www.opalesque.com/SWF_Briefing/?p=17940#comments Fri, 24 Jul 2015 03:08:54 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17940 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17940>Article Link</a> Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-June, 2015 reached 4 054. 0 mln. manats, while budget expenditures constituted 4 042.1 mln. manats. (more…)

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Assets of the State Oil Fund of Azerbaijan Republic fell by 3.6% to $35.8 bn in spite of budget surplus http://www.opalesque.com/SWF_Briefing/?p=17939 http://www.opalesque.com/SWF_Briefing/?p=17939#comments Fri, 24 Jul 2015 03:08:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17939 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17939>Article Link</a> The State Oil Fund of Azerbaijan Republic (SOFAZ) has published data on its activities in the first half of 2015. According to the Fund, its assets as of July 1, 2015 have dropped by 3.56% compared to the beginning of 2015 (USD 37 104.1 mln.) and stood at USD 35,783.3 mln. “Decrease of assets since the beginning of the year is due to the revaluation of foreign exchange,” SOFAZ said. (more…)

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Taiwan’s SWF plan proceeds despite opposition http://www.opalesque.com/SWF_Briefing/?p=17938 http://www.opalesque.com/SWF_Briefing/?p=17938#comments Fri, 24 Jul 2015 03:08:13 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17938 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17938>Article Link</a> Government plans to create a sovereign wealth fund in Taiwan are being met with considerable opposition. In two separate moves in recent days, it has been suggested that sovereign wealth funds be created out of Taiwan’s central bank reserves, and that the nation’s four big public investment funds be managed under a sovereign fund ‘platform’. (more…)

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Atlantia, CIC, Macquarie, Allianz bidding for Tank&Rast http://www.opalesque.com/SWF_Briefing/?p=17937 http://www.opalesque.com/SWF_Briefing/?p=17937#comments Fri, 24 Jul 2015 03:06:38 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17937 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17937>Article Link</a> Italian motorway operator Atlantia, Chinese sovereign wealth fund CIC, Australian infrastructure investor Macquarie and a consortium led by insurer Allianz are vying for Germany’s Tank&Rast, according to several people familiar with the deal. The four different groups are expected to hand in final bids of up to 3.5 billion euros ($3.84 billion) for the motorway service station group by a deadline set for next week, the sources added. (more…)

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PAC summons Jho Low over 1MDB scandal http://www.opalesque.com/SWF_Briefing/?p=17936 http://www.opalesque.com/SWF_Briefing/?p=17936#comments Fri, 24 Jul 2015 03:06:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17936 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17936>Article Link</a> The Public Accounts Committee has summoned business tycoon Low Taek Jho to appear before them on Sept 8 to testify on the 1MDB scandal. PAC chief Nur Jazlan Mohamad said the committee has sent the summons letter to the Finance Ministry. (more…)

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Leaked cables on the failed leadership transition of Temasek Holdings http://www.opalesque.com/SWF_Briefing/?p=17935 http://www.opalesque.com/SWF_Briefing/?p=17935#comments Fri, 24 Jul 2015 03:06:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17935 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17935>Article Link</a> 6 years ago, the intended leadership transition of the Temasek’s Chief Executive Officer between former BHP Billiton chief Charles ‘Chip’ Goodyear and Mdm Ho Ching came to an abrupt stop when the private investment company announced the departure of Goodyear due to differences between him and the board of directors regarding certain strategic issues that could not be resolved. (more…)

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Oman fund set to seek ruling against Bulgaria over bank collapse-source http://www.opalesque.com/SWF_Briefing/?p=17934 http://www.opalesque.com/SWF_Briefing/?p=17934#comments Fri, 24 Jul 2015 03:05:49 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17934 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17934>Article Link</a> Oman’s biggest sovereign wealth fund is set to seek an arbitration ruling against Bulgaria over the collapse of Corporate Commercial Bank (Corpbank). Oman’s State General Reserve Fund ( SGRF ) owned a 30 percent stake in Corpbank, Bulgaria’s fourth-largest lender, which collapsed last year following a bank run. (more…)

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Inside Libya: Interview With LIA Sovereign Wealth Fund Chairman Breish http://www.opalesque.com/SWF_Briefing/?p=17933 http://www.opalesque.com/SWF_Briefing/?p=17933#comments Fri, 24 Jul 2015 03:05:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17933 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17933>Article Link</a> Even by its usual standards, the Libyan Investment Authority has undergone a year of upheaval. As if it’s not enough that the fund operates out of a damaged and fractured country with two different governments, the fund itself appeared to split in two this year, with two separate people claiming to be chairman, one in Tripoli and one in Malta. (more…)

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Abu Dhabi SWF in $170m bid for Irish hotels site http://www.opalesque.com/SWF_Briefing/?p=17932 http://www.opalesque.com/SWF_Briefing/?p=17932#comments Fri, 24 Jul 2015 03:05:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17932 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17932>Article Link</a> Abu Dhabi Investment Authority (ADIA) is believed to be backing a €155 million ($170 million) bid to buy a valuable seven-acre development site in Dublin. ADIA has teamed up with Irish developer Chartered Land to buy the two former Jurys and Berkeley Court hotels, which sit on some of the most valuable land in Ireland, reported the Irish Independent. (more…)

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The Future Fund takes risk off the table http://www.opalesque.com/SWF_Briefing/?p=17931 http://www.opalesque.com/SWF_Briefing/?p=17931#comments Thu, 23 Jul 2015 03:21:13 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17931 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17931>Article Link</a> The revelation that the Future Fund has ramped up its cash holdings amid what it sees as an overpriced asset environment should resonate with smaller investors. The Fund is one of the nation’s most sophisticated investors, using a blend of outsourced managers and in-house specialists to generate mandated returns of 4.5 per cent over CPI — easy enough in the bull market years when the Fund was established by then Treasurer Peter Costello, not so easy in a low-rate world. (more…)

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Future Fund bets on cash http://www.opalesque.com/SWF_Briefing/?p=17930 http://www.opalesque.com/SWF_Briefing/?p=17930#comments Thu, 23 Jul 2015 03:20:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17930 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17930>Article Link</a> Australia’s sovereign wealth fund has dramatically ramped up its allocation to cash in the past quarter, as it struggles to find value in expensive asset markets. At the same time, the $117 billion Future Fund has trimmed the cash it holds on deposit with the country’s four major banks, because of concerns about overexposure to the banking sector. (more…)

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Saudi Arabian sovereign wealth fund eyes big return on Russia investments http://www.opalesque.com/SWF_Briefing/?p=17929 http://www.opalesque.com/SWF_Briefing/?p=17929#comments Thu, 23 Jul 2015 03:20:21 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17929 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17929>Article Link</a> The Saudi Arabian government’s sovereign wealth fund said it was investing $10 billion in Russia this year. The fund will work in partnership with the Russian Direct Investment Fund (RDIF). The Saudi Arabia Public Investment Fund is investing $10 billion in Russia, and will create a partnership with the Russian Direct Investment Fund (RDIF), a state-controlled investment fund supporting promising projects in Russia. (more…)

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Oman fund set to seek ruling against Bulgaria over bank collapse http://www.opalesque.com/SWF_Briefing/?p=17928 http://www.opalesque.com/SWF_Briefing/?p=17928#comments Thu, 23 Jul 2015 03:19:44 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17928 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17928>Article Link</a> Oman’s biggest sovereign wealth fund is set to seek an arbitration ruling against Bulgaria over the collapse of Corporate Commercial Bank (Corpbank), a source familiar with the situation told Reuters on Wednesday. (more…)

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Alaska Permanent Fund scouting for special opportunities portfolio manager http://www.opalesque.com/SWF_Briefing/?p=17927 http://www.opalesque.com/SWF_Briefing/?p=17927#comments Thu, 23 Jul 2015 03:19:18 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17927 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17927>Article Link</a> Alaska Permanent Fund Corp., Juneau, is searching for a special opportunities portfolio manager, a new position, said spokeswoman Laura Achee in an e-mail. The $54 billion sovereign wealth fund’s special opportunities portfolio includes absolute return, real return and multiasset strategies that seek market inefficiencies. (more…)

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