Opalesque Sovereign Wealth Funds Briefing http://www.opalesque.com/SWF_Briefing Wed, 28 Sep 2016 04:37:31 +0000 http://wordpress.org/?v=2.5.1 en Big investors like Norway’s wealth fund should use heft to increase growth potential -study http://www.opalesque.com/SWF_Briefing/?p=20716 http://www.opalesque.com/SWF_Briefing/?p=20716#comments Wed, 28 Sep 2016 04:37:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20716 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20716>Article Link</a> Norway’s $887 billion sovereign wealth fund and other institutional investors should invest in illiquid, unlisted assets in emerging economies if they want to make money in the future, a leading expert on the fund said on Tuesday. (more…)

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Emerging Economies to Counter Big Chill in Returns, Norfund Says http://www.opalesque.com/SWF_Briefing/?p=20715 http://www.opalesque.com/SWF_Briefing/?p=20715#comments Wed, 28 Sep 2016 04:37:15 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20715 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20715>Article Link</a> Institutional investors should look to emerging markets to avoid a toxic combination of falling financial returns and higher political risk in the developed stock and bond markets. The Norwegian sovereign wealth fund, the world’s biggest, is seeking to expand its investment universe into unlisted infrastructure investments to take advantage of its size. (more…)

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Azerbaijani banks buy over $70M through auction http://www.opalesque.com/SWF_Briefing/?p=20714 http://www.opalesque.com/SWF_Briefing/?p=20714#comments Wed, 28 Sep 2016 04:36:58 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20714 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20714>Article Link</a> Some $70.2 million were sold to 20 Azerbaijani banks through an auction held by the Central Bank of Azerbaijan (CBA) Sept. 27, CBA said in a message Sept. 27. (more…)

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Oil Fund and Central Bank of Azerbaijan hold currency oversupply http://www.opalesque.com/SWF_Briefing/?p=20713 http://www.opalesque.com/SWF_Briefing/?p=20713#comments Wed, 28 Sep 2016 04:36:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20713 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20713>Article Link</a> The State Oil Fund (SOFAZ) and the Central Bank hold the currency oversupply during its centralized sale of foreign currency to banks. SOFAZ reports that today the Central Bank (CBA) has held the next foreign exchange auction. “At the auction SOFAZ, putting an application for $100 million, sold $70.2 million to 20 banks,” SOFAZ said. (more…)

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Azeri oil fund Sofaz sells $70 mln on market on Tuesday http://www.opalesque.com/SWF_Briefing/?p=20712 http://www.opalesque.com/SWF_Briefing/?p=20712#comments Wed, 28 Sep 2016 04:36:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20712 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20712>Article Link</a> Azerbaijan’s state oil fund Sofaz said it had sold $70 million on the foreign exchange market on Tuesday. (more…)

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UBS Shareholder GIC Voices Rare Rebuke http://www.opalesque.com/SWF_Briefing/?p=20711 http://www.opalesque.com/SWF_Briefing/?p=20711#comments Wed, 28 Sep 2016 04:35:18 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20711 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20711>Article Link</a> Singapore’s sovereign wealth fund GIC is UBS’ largest shareholder, amassing a 6.4 percent stake in the Swiss bank during the financial crisis. The discreet fund’s head has some stern words over recent scandals. (more…)

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Fed Okays Fortis Inc. and GIC Acquisition of ITC Holdings Corp http://www.opalesque.com/SWF_Briefing/?p=20710 http://www.opalesque.com/SWF_Briefing/?p=20710#comments Wed, 28 Sep 2016 04:34:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20710 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20710>Article Link</a> Fortis Inc, ITC Holdings Corp. and GIC Private Limited (GIC) announced that the Federal Energy Regulatory Commission (FERC) has authorized the acquisition of ITC by Fortis and a subsidiary of GIC. “This ruling from FERC is a key milestone toward finalizing the transaction,” said Barry Perry, President and Chief Executive Officer of Fortis. “We appreciate the FERC’s conclusion that the transaction is consistent with the public interest.” (more…)

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PM says Malaysia will cooperate with US investigation of 1MDB funds http://www.opalesque.com/SWF_Briefing/?p=20709 http://www.opalesque.com/SWF_Briefing/?p=20709#comments Wed, 28 Sep 2016 04:33:45 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20709 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20709>Article Link</a> Malaysian Prime Minister Najib Razak on Tuesday said his country would cooperate with U.S. and other international authorities investigating the misappropriation of funds from a Malaysian state-owned fund that he founded. (more…)

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IDE: 1MDB has little effect on Malay BN voters in S’gor http://www.opalesque.com/SWF_Briefing/?p=20708 http://www.opalesque.com/SWF_Briefing/?p=20708#comments Wed, 28 Sep 2016 04:32:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20708 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20708>Article Link</a> It appears the controversy surrounding 1Malaysia Development Berhad (1MDB) has not affected the loyalty of Malay BN supporters in Selangor for Prime Minister Najib Razak. A statewide survey by Selangor’s Institute Darul Ehsan (IDE) found that some Malay voters in the state’s Malay-majority constituencies will continue to pledge their support for Najib and his BN government no matter what. (more…)

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LIA on track with multi-million dollar litigations to recover wealth of the Libyan people http://www.opalesque.com/SWF_Briefing/?p=20707 http://www.opalesque.com/SWF_Briefing/?p=20707#comments Wed, 28 Sep 2016 04:31:44 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20707 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20707>Article Link</a> Things are uncertain at the moment, even by Libya’s standards. Key terminals in Libya’s eastern and western oil facilities have been held hostage for years, with oil production at a minimum. Oil exports, on which the economy sorely relies, are at a virtual standstill. The country’s liquidity crisis is ongoing. (more…)

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SOFAZ’s transfers to state budget to be cut by 1.5B AZN http://www.opalesque.com/SWF_Briefing/?p=20706 http://www.opalesque.com/SWF_Briefing/?p=20706#comments Mon, 26 Sep 2016 23:35:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20706 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20706>Article Link</a> Transfers from the State Oil Fund of Azerbaijan (SOFAZ) to the state budget will be reduced by 1.5 billion manats (official exchange rate for Sept. 26 is 1.6292 AZN/USD) in 2017, Samir Sharifov, Azerbaijani finance minister, told reporters in Baku Sept. 26. (more…)

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Transfers from SOFAZ http://www.opalesque.com/SWF_Briefing/?p=20705 http://www.opalesque.com/SWF_Briefing/?p=20705#comments Mon, 26 Sep 2016 23:35:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20705 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20705>Article Link</a> The transfers of the State Oil Fund of Azerbaijan (SOFAZ) to the state budget are expected to be lower than the indices fixed in 2016. Transfers from the State Oil Fund of Azerbaijan (SOFAZ) to the state budget will be reduced by 1.5 billion manats ($0.92) in 2017, as the country must pay more attention to the income from other sources, rather than deductions from SOFAZ, while generating the revenue side of the state budget. (more…)

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Qatar withdraws from race for Grosvenor House and New York Plaza http://www.opalesque.com/SWF_Briefing/?p=20704 http://www.opalesque.com/SWF_Briefing/?p=20704#comments Mon, 26 Sep 2016 23:34:07 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20704 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20704>Article Link</a> The Qatar Investment Authority has abandoned talks to buy London’s Grosvenor House Hotel and two hotels in New York, increasing the likelihood that the trophy properties will be acquired by the UK’s richest men, the Reuben brothers. (more…)

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Qatar-Indonesia joint investment fund in ‘final stages’ http://www.opalesque.com/SWF_Briefing/?p=20703 http://www.opalesque.com/SWF_Briefing/?p=20703#comments Mon, 26 Sep 2016 23:33:55 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20703 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20703>Article Link</a> The $1bn joint investment fund (JIF) by Qatar and Indonesia is nearing its final stages, and is expected to fund major infrastructure and energy projects, an official has said. Special envoy to the Indonesian president for Middle East Affairs Dr Alwi Abdurrahman Shihab said Indonesia’s share of the JIF (15%) “is ready.” He also said the government is just waiting for the Qatar Investment Authority (QIA) to select from several projects Indonesia has prepared to start the JIF. (more…)

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Scientific studies in UAE ‘need more funding’ http://www.opalesque.com/SWF_Briefing/?p=20702 http://www.opalesque.com/SWF_Briefing/?p=20702#comments Mon, 26 Sep 2016 23:33:40 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20702 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20702>Article Link</a> A Saudi report on scientific research in the Arabian Gulf shows that the UAE needs to boost funding for such studies, academics say. The UAE was lagging behind Saudi Arabia in the number of scientific studies published, according to the study conducted in 2014 and last year by the college of medicine at King Saud University. (more…)

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Saudi Aramco evaluating foreign exchanges for 2018 http://www.opalesque.com/SWF_Briefing/?p=20701 http://www.opalesque.com/SWF_Briefing/?p=20701#comments Mon, 26 Sep 2016 23:32:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20701 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20701>Article Link</a> Saudi Aramco is looking at a number of foreign exchanges, including London, New York and Hong Kong, for a partial listing of the oil giant in 2018, chief executive Amin Nasser said. The state-oil firm plans to list as much as 5 per cent on Saudi Arabia’s stock exchange, the Tadawul, and at least one foreign exchange as part of efforts to wean the country’s economy away from hydrocarbon sales. (more…)

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Rahejas eyes deal with Temasek http://www.opalesque.com/SWF_Briefing/?p=20700 http://www.opalesque.com/SWF_Briefing/?p=20700#comments Mon, 26 Sep 2016 23:32:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20700 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20700>Article Link</a> K Raheja Corp, one of the largest developers of IT parks, is in talks with Singapore-based Temasek Holdings and American private equity firm Warburg Pincus to sell stake in its office space holding company, said a source in the know. (more…)

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1MDB scandal is quite damaging, concedes Nazir http://www.opalesque.com/SWF_Briefing/?p=20699 http://www.opalesque.com/SWF_Briefing/?p=20699#comments Mon, 26 Sep 2016 23:32:06 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20699 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20699>Article Link</a> In an interview with the magazine Euromoney, CIMB bank chairperson Nazir Razak shares his views on the 1MDB scandal and being dragged into the imbroglio. Published in its September issue, the article’s writer noted how two days before the meeting with Nazir, a brother of Prime Minister Najib Abdul Razak, the United States Department of Justice filed a civil suit in relation to alleged abuse of 1MDB funds. (more…)

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1MDB suit by Husam, Chang frivolous, says Azalina http://www.opalesque.com/SWF_Briefing/?p=20698 http://www.opalesque.com/SWF_Briefing/?p=20698#comments Mon, 26 Sep 2016 23:31:38 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20698 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20698>Article Link</a> Lawyer Matthias Chang and former PAS Vice-President Husam Musa’s decision to drop their class action suit showed their claims were frivolous and baseless, said an Umno minister. Minister in the Prime Minister’s Department in charge of law Azalina Othman Said said furnishing additional facts for a lawsuit did not require the action to be withdrawn through a supplementary application. (more…)

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Khazanah sees continuation of pro-growth, pro-society focus http://www.opalesque.com/SWF_Briefing/?p=20697 http://www.opalesque.com/SWF_Briefing/?p=20697#comments Mon, 26 Sep 2016 23:31:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20697 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20697>Article Link</a> Khazanah Nasional Bhd sees a continuation of a pro-growth and pro-society focus in the upcoming Budget 2017. Managing Director Tan Sri Azman Mokhtar said the budget would also like to be fiscally responsible on the back of a challenging global economic environment. (more…)

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Future Fund may not buy more infrastructure: Peter Costello http://www.opalesque.com/SWF_Briefing/?p=20696 http://www.opalesque.com/SWF_Briefing/?p=20696#comments Mon, 26 Sep 2016 05:52:51 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20696 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20696>Article Link</a> Future Fund chairman Peter Costello has warned that the $125 billion fund might have sated its appetite for infrastructure assets by the time the Queensland government accepts reality and reverses its anti-privatisation position. (more…)

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Taking a look at Temasek’s bid to privatise SMRT http://www.opalesque.com/SWF_Briefing/?p=20695 http://www.opalesque.com/SWF_Briefing/?p=20695#comments Mon, 26 Sep 2016 05:52:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20695 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20695>Article Link</a> Singapore’s stock market is witnessing an interesting trend. A number of high-profile companies have either delisted, or announced their intention to do so. However, no other company’s proposed privatisation has generated as much interest as that of SMRT. (more…)

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CIC said to review Engie SA’s unit stake http://www.opalesque.com/SWF_Briefing/?p=20694 http://www.opalesque.com/SWF_Briefing/?p=20694#comments Mon, 26 Sep 2016 05:52:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20694 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20694>Article Link</a> Sovereign fund China Investment Corp is reviewing options for its 30 percent stake in French multinational electric utility Engie SA’s exploration and production business, which it had bought for 2.3 billion euros in 2011. (more…)

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National Investment and Infrastructure Fund http://www.opalesque.com/SWF_Briefing/?p=20693 http://www.opalesque.com/SWF_Briefing/?p=20693#comments Mon, 26 Sep 2016 05:52:06 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20693 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20693>Article Link</a> Nineteen months after the announcement was made in FY16 Budget, the National Investment and Infrastructure Fund (NIIF) will commence operations next month with a $1-billion corpus for the highway sector and another fund of the same size for the renewable energy industry, according to official sources. (more…)

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An Asean Government Investment Fund Lost RM73 Billion Last Year http://www.opalesque.com/SWF_Briefing/?p=20692 http://www.opalesque.com/SWF_Briefing/?p=20692#comments Mon, 26 Sep 2016 05:51:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20692 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20692>Article Link</a> One of the Asean region’s biggest soveriegn fund has been hit by its first loss in 7 years. While local detractors of Malaysia’s ruling government have continued their smear campaign against state-owned investment fund 1MDB and making it appear as a huge failure due to losses, it is Singapore’s state investment giant Temasek Holdings which announced an astounding SG$24 billion (RM73 billion) loss for its last financial year. (more…)

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Libyan sovereign fund recovers $127 million from Lehman, Cornhill Capital http://www.opalesque.com/SWF_Briefing/?p=20691 http://www.opalesque.com/SWF_Briefing/?p=20691#comments Mon, 26 Sep 2016 05:51:36 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20691 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20691>Article Link</a> Libya’s $67 billion (£51.6 billion) sovereign wealth fund has recovered $73 million from the bankrupt Lehman Brothers and $53.8 million from Cornhill Capital after lengthy legal battles, the fund said in a statement. (more…)

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Qatar withdraws from race for Grosvenor House and New York Plaza http://www.opalesque.com/SWF_Briefing/?p=20690 http://www.opalesque.com/SWF_Briefing/?p=20690#comments Mon, 26 Sep 2016 05:51:17 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20690 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20690>Article Link</a> The Qatar Investment Authority has abandoned talks to buy London’s Grosvenor House Hotel and two hotels in New York, increasing the likelihood that the trophy properties will be acquired by the UK’s richest men, the Reuben brothers. (more…)

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Norway’s shopping spree for North American real estate continues http://www.opalesque.com/SWF_Briefing/?p=20689 http://www.opalesque.com/SWF_Briefing/?p=20689#comments Thu, 22 Sep 2016 23:22:54 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20689 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20689>Article Link</a> The Norwegian Sovereign Wealth fund is pursuing a strategy to increase its portfolio weight of real estate assets to about 5% within the foreseeable future - planning to increase the weight by 1% per year until 2020, with a corresponding decrease in bond holdings. (more…)

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Pretty Much Every Norwegian Citizen Is a Millionnaire http://www.opalesque.com/SWF_Briefing/?p=20688 http://www.opalesque.com/SWF_Briefing/?p=20688#comments Thu, 22 Sep 2016 23:22:38 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20688 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20688>Article Link</a> Norway’s “Pension Fund Global” is the biggest sovereign-wealth fund in the world, worth an estimated $882B (more than double the national GDP). Not bad for a country with a population of just over 5m people. (more…)

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It’s (Still) Good to be Norway http://www.opalesque.com/SWF_Briefing/?p=20687 http://www.opalesque.com/SWF_Briefing/?p=20687#comments Thu, 22 Sep 2016 23:22:21 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20687 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20687>Article Link</a> The country created a government-run pension fund in the 70s and began investing profits abroad in 1990. Today, according to The Economist, “No sovereign-wealth fund is bigger. It owns more than 2% of all listed shares in Europe and over 1% globally. Its largest holdings are in Alphabet, Apple, Microsoft and Nestlé, among 9,000-odd firms in 78 countries.” (more…)

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UK sovereign fund appoints two on ARM Cement board http://www.opalesque.com/SWF_Briefing/?p=20686 http://www.opalesque.com/SWF_Briefing/?p=20686#comments Thu, 22 Sep 2016 23:22:01 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20686 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20686>Article Link</a> UK’s sovereign wealth fund CDC Group has appointed two directors to the board of cement manufacturer ARM in which it recently acquired a 40.6 per cent stake for Sh14.1 billion. The fund appointed Pepe Meijer and Ketso Gordhan to the board of the Nairobi Securities Exchange-listed company. (more…)

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Azerbaijani banks buy over $60M from State Oil Fund http://www.opalesque.com/SWF_Briefing/?p=20685 http://www.opalesque.com/SWF_Briefing/?p=20685#comments Thu, 22 Sep 2016 23:21:39 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20685 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20685>Article Link</a> The State Oil Fund of Azerbaijan (SOFAZ) sold $61.4 million to 19 banks through an auction held by the Central Bank of Azerbaijan (CBA) Sept. 22, SOFAZ said in a message on September 22. (more…)

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Oil Fund and Central Bank of Azerbaijan created currency oversupply http://www.opalesque.com/SWF_Briefing/?p=20684 http://www.opalesque.com/SWF_Briefing/?p=20684#comments Thu, 22 Sep 2016 23:21:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20684 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20684>Article Link</a> The State Oil Fund (SOFAZ) and the Central Bank have created the currency oversupply during its centralized sale of foreign currency to banks. SOFAZ reports that today the Central Bank (CBA) has held the next foreign exchange auction. (more…)

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Alaska Permanent Fund board rejects idea of investing in oil-tax credits http://www.opalesque.com/SWF_Briefing/?p=20683 http://www.opalesque.com/SWF_Briefing/?p=20683#comments Thu, 22 Sep 2016 23:20:53 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20683 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20683>Article Link</a> The corporation that manages the $54 billion Alaska Permanent Fund is rejecting a proposal from the Walker administration to invest in the oil and gas tax credits issued by the state. The corporation does not view the idea as “an attractive investment opportunity,” said Paulyn Swanson, communications manager for the Alaska Permanent Fund Corp., in an email on Tuesday. (more…)

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1MDB: Swiss Citizen Denied Return http://www.opalesque.com/SWF_Briefing/?p=20682 http://www.opalesque.com/SWF_Briefing/?p=20682#comments Thu, 22 Sep 2016 23:20:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20682 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20682>Article Link</a> Switzerland’s Xavier Justo was the man who dragged the scandal surrounding Malaysia’s state fund 1MDB into the limelight. He was convicted for attempted extortion and sent to prison in Thailand. The country has now rejected an extradition request by the Swiss authorities. (more…)

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Swiss regret decision not to extradite 1MDB witness http://www.opalesque.com/SWF_Briefing/?p=20681 http://www.opalesque.com/SWF_Briefing/?p=20681#comments Thu, 22 Sep 2016 23:20:14 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20681 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20681>Article Link</a> Switzerland said it regrets a decision by Thai authorities not to extradite Swiss national Xavier Justo, a possible key witness in the global money-laundering probe linked to Malaysian state fund 1Malaysia Development Berhad (1MDB). (more…)

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With Kleptocrats Untouchable, America Goes Big on Another Strategy: Taking Their Stuff Instead http://www.opalesque.com/SWF_Briefing/?p=20680 http://www.opalesque.com/SWF_Briefing/?p=20680#comments Thu, 22 Sep 2016 23:19:55 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20680 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20680>Article Link</a> Accused of involvement in stealing billions from Malaysia’s sovereign wealth fund, Prime Minister Najib Razak did what autocratic leaders around the world do when scandal is in the air. He cleared house. In the space of a day last July, he fired his deputy prime minister and attorney general and sidelined members of a parliamentary committee looking into the apparent theft. (more…)

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Robert De Niro doesn’t ‘give a s—-’ about Malaysian corruption scandal http://www.opalesque.com/SWF_Briefing/?p=20679 http://www.opalesque.com/SWF_Briefing/?p=20679#comments Thu, 22 Sep 2016 23:19:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20679 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20679>Article Link</a> Robert De Niro is unconcerned after being linked to a Malaysian corruption scandal. Back in July, the U.S. Department of Justice filed to seize the assets of a Malaysian sovereign wealth fund called 1MDB, set up by the country’s Prime Minister Najib Razak. It is claimed more than $1 billion was embezzled and misappropriated from the fund - including $100 million which was used from the fund to finance Leonardo DiCaprio’s 2013 movie The Wolf of Wall Street. (more…)

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Senator files suit against Governor’s veto of half of Permanent Fund Dividend http://www.opalesque.com/SWF_Briefing/?p=20678 http://www.opalesque.com/SWF_Briefing/?p=20678#comments Thu, 22 Sep 2016 23:19:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20678 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20678>Article Link</a> On Friday, September 16, Alaska senator Bill Wielechowski filed a lawsuit contesting Governor Bill Walker’s veto of half of the funding for the Permanent Fund Dividend. (more…)

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Kazakh wealth fund says 34 firms sold in privatisation drive http://www.opalesque.com/SWF_Briefing/?p=20677 http://www.opalesque.com/SWF_Briefing/?p=20677#comments Wed, 21 Sep 2016 23:22:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20677 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20677>Article Link</a> Kazakhstan’s $65 billion sovereign wealth fund Samruk-Kazyna has sold 34 small and mid-sized companies by public auction as part of its privatisation drive, a managing director of the fund said on Wednesday. (more…)

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Fall in global equities sees NZ Super Fund record worst performance since 2012 http://www.opalesque.com/SWF_Briefing/?p=20676 http://www.opalesque.com/SWF_Briefing/?p=20676#comments Wed, 21 Sep 2016 23:22:01 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20676 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20676>Article Link</a> A fall in global equities has seen the annual return of the NZ Super Fund fall to its lowest level since 2012. The sovereign wealth fund, established to help cover New Zealand’s retirement costs, said on Wednesday that a drop in the June month meant its value stood at $30.1 billion at June 30, an increase of 1.89 per cent over 12 months. (more…)

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New Zealand Super reports 1.89% gain for financial year http://www.opalesque.com/SWF_Briefing/?p=20675 http://www.opalesque.com/SWF_Briefing/?p=20675#comments Wed, 21 Sep 2016 23:21:44 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20675 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20675>Article Link</a> New Zealand Superannuation Fund reported a 1.89% investment gain for its financial year ended June 30, lifting the value of its portfolio to NZ$30.1 billion ($21.4 billion). In a news release Thursday, New Zealand Super said strong gains by the Auckland-based sovereign wealth fund’s active investments in timber and infrastructure helped it outperform its passive reference portfolio by 52 basis points for the year. (more…)

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Julius Baer Responds to DiCaprio, 1MDB Questions http://www.opalesque.com/SWF_Briefing/?p=20674 http://www.opalesque.com/SWF_Briefing/?p=20674#comments Wed, 21 Sep 2016 23:21:27 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20674 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20674>Article Link</a> Swiss private bank Julius Baer responded to questions over its links to actor-environmentalist Leonardo DiCaprio, who has been criticized over his ties to representatives of Malaysia’s 1MDB fund. (more…)

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Papua New Guinea: Manage SWF well, economist says http://www.opalesque.com/SWF_Briefing/?p=20673 http://www.opalesque.com/SWF_Briefing/?p=20673#comments Wed, 21 Sep 2016 23:21:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20673 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20673>Article Link</a> Economist Paul Barker says a Sovereign Wealth Fund (SWF) is only valuable if and when it operates to the highest standard of performance and accountability to the people. Barker, the executive director of the Institute of National Affairs, said this was to avoid poor management and governance as had been the case of major State associated funds. (more…)

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A mountain of cash: How Norway spends its $882 billion global fund http://www.opalesque.com/SWF_Briefing/?p=20672 http://www.opalesque.com/SWF_Briefing/?p=20672#comments Wed, 21 Sep 2016 23:20:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20672 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20672>Article Link</a> It’s tough for a small democracy to run the world’s biggest sovereign-wealth fund. Two decades after Norway’s government paid a first deposit into its sovereign-wealth fund, the country is learning how to manage a behemoth. (more…)

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SOFAZ hosts CROSAPF Annual Summit 2016 http://www.opalesque.com/SWF_Briefing/?p=20671 http://www.opalesque.com/SWF_Briefing/?p=20671#comments Wed, 21 Sep 2016 23:20:16 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20671 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20671>Article Link</a> The State Oil Fund of the Republic of Azerbaijan (SOFAZ) hosts the third Annual Summit of the Co-Investment Roundtable of Sovereign and Pension Funds (CROSAPF) at the Four Seasons Hotel in Baku, on September 20-21, 2016. (more…)

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Angolan sovereign wealth fund releases Q1 results http://www.opalesque.com/SWF_Briefing/?p=20670 http://www.opalesque.com/SWF_Briefing/?p=20670#comments Wed, 21 Sep 2016 23:19:49 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20670 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20670>Article Link</a> The Fundo Soberano de Angola (FSDEA), Angola’s sovereign wealth fund, released its first quarter investment update for 2016, showing total assets of $4.56 billion. FSDEA Chairman José Filomeno dos Santos said that as of 31 March 2016, the Fund had approximately 60 per cent of its portfolio allocated in private equity funds dedicated to both domestic and regional investments. (more…)

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LIA recovers $53.8 million from Cornhill Capital, $73 million from Lehman bankruptcy http://www.opalesque.com/SWF_Briefing/?p=20669 http://www.opalesque.com/SWF_Briefing/?p=20669#comments Wed, 21 Sep 2016 23:19:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20669 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20669>Article Link</a> The Tripoli-based Libyan Investment Authority (LIA) has successfully recovered $53.8 million from Cornhill Capital Limited after three years of battle. The LIA said in a statement on Tuesday that the fundamental factor in the issue was Cornhill Capital’s reliance on international sanctions imposed against some of the assets of the LIA. (more…)

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How Norway spends its $882 billion global fund http://www.opalesque.com/SWF_Briefing/?p=20668 http://www.opalesque.com/SWF_Briefing/?p=20668#comments Wed, 21 Sep 2016 03:33:44 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20668 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20668>Article Link</a> It’s tough for a small democracy to run the world’s biggest sovereign-wealth fund. Two decades after Norway’s government paid a first deposit into its sovereign-wealth fund, the country is learning how to manage a behemoth. The vehicle, which is used to invest abroad the proceeds of Norway’s oil and gas sales, has amassed a bigger fortune than anyone expected, thanks to previous, bumper oil prices. (more…)

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Azerbaijani banks buy over $70M from State Oil Fund http://www.opalesque.com/SWF_Briefing/?p=20667 http://www.opalesque.com/SWF_Briefing/?p=20667#comments Wed, 21 Sep 2016 03:33:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20667 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20667>Article Link</a> The State Oil Fund of Azerbaijan (SOFAZ) sold $72.4 million to 20 banks through an auction held by the Central Bank of Azerbaijan (CBA) Sept. 20, SOFAZ said in a message. As much as $100 million was put up for the auction. (more…)

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Oil Fund sells less than half of its application through Central Bank’s auction http://www.opalesque.com/SWF_Briefing/?p=20666 http://www.opalesque.com/SWF_Briefing/?p=20666#comments Wed, 21 Sep 2016 03:32:45 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20666 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20666>Article Link</a> The State Oil Fund (SOFAZ) and the Central Bank continue centralized sale of foreign currency to banks. SOFAZ reports that today the Central Bank (CBA) has held the next foreign exchange auction. (more…)

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Fall in global equities sees NZ Super Fund record worst performance since 2012 http://www.opalesque.com/SWF_Briefing/?p=20665 http://www.opalesque.com/SWF_Briefing/?p=20665#comments Wed, 21 Sep 2016 03:32:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20665 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20665>Article Link</a> A fall in global equities has seen the annual return of the NZ Super Fund fall to its lowest level since 2012. The sovereign wealth fund, established to help cover New Zealand’s retirement costs, said on Wednesday that a drop in the June month meant its value stood at $30.1 billion at June 30, an increase of 1.89 per cent over 12 months. (more…)

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These Difficult Investment Conditions Can Stretch For The Next 10 Years http://www.opalesque.com/SWF_Briefing/?p=20664 http://www.opalesque.com/SWF_Briefing/?p=20664#comments Wed, 21 Sep 2016 03:32:09 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20664 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20664>Article Link</a> The words in the title of this article are an exact quote from Lim Chow Kiat, the deputy group president and group chief investment officer of GIC, one of Singapore’s sovereign wealth funds. (more…)

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HKMA to add cyber security, anti-money laundering knowledge to bankers’ certification http://www.opalesque.com/SWF_Briefing/?p=20663 http://www.opalesque.com/SWF_Briefing/?p=20663#comments Wed, 21 Sep 2016 03:31:51 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20663 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20663>Article Link</a> Starting in December, new programmes will be added to the HKMA’s Enhanced Competency Framework (ECF) for local bankers. The Hong Kong Monetary Authority said it will require bankers operating in the city to be trained and certified to deal with cyber security and money laundering, beefing up its regulations to prepare for competition with Singapore to be the Asian hub for financial technology. (more…)

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Chinese fund takes 20% of $7.3bn Melbourne port http://www.opalesque.com/SWF_Briefing/?p=20662 http://www.opalesque.com/SWF_Briefing/?p=20662#comments Wed, 21 Sep 2016 03:31:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20662 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20662>Article Link</a> The Australian state of Victoria has leased the port of Melbourne for $7.3bn (A$9.7bn) to a consortium led by the Queensland Investment Corporation (QIC), which also includes a Chinese sovereign wealth fund. (more…)

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Thailand rejects Swiss request to hand over jailed 1MDB witness http://www.opalesque.com/SWF_Briefing/?p=20661 http://www.opalesque.com/SWF_Briefing/?p=20661#comments Wed, 21 Sep 2016 03:31:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20661 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20661>Article Link</a> Decision to hold Xavier Justo follows visit by Malaysian PM, who is embroiled in scandal over fund. An important potential witness in the scandal over the alleged looting of Malaysia’s 1MDB investment fund is at the centre of a diplomatic row after Thailand refused a request to move him from jail to his native Switzerland. (more…)

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Unesco holds back award for Malaysia PM’s wife amid 1MDB fallout http://www.opalesque.com/SWF_Briefing/?p=20660 http://www.opalesque.com/SWF_Briefing/?p=20660#comments Wed, 21 Sep 2016 03:31:03 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20660 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20660>Article Link</a> Honour for Rosmah Mansor on hold in sign of growing international impact of graft scandal. Unesco has postponed an award it planned to give to Rosmah Mansor, the Malaysian prime minister’s wife, at the last minute in a sign of the growing international fallout from a corruption scandal engulfing the country’s leaders. (more…)

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The sovereign wealth fund http://www.opalesque.com/SWF_Briefing/?p=20659 http://www.opalesque.com/SWF_Briefing/?p=20659#comments Wed, 21 Sep 2016 03:30:40 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20659 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20659>Article Link</a> The sovereign wealth funds are the national investments many countries have made for their future generations. Some of these funds are huge, as seen by the figures presented in the next paragraph. The sovereign wealth funds have huge clout internationally – whether economic or geopolitical. Collectively or singularly, they can move markets, destabilise currencies or change governments. (more…)

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Libyan Investment Authority successfully recovers $126.8 million from Cornhill Capital and the Lehman bankruptcy http://www.opalesque.com/SWF_Briefing/?p=20658 http://www.opalesque.com/SWF_Briefing/?p=20658#comments Wed, 21 Sep 2016 03:30:17 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20658 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20658>Article Link</a> The Libyan Investment Authority (LIA), under the chairmanship of Mr AbdulMagid Breish, has now after a three year battle successfully recovered $53.8 million that had been managed by Cornhill Capital. (more…)

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Mubadala said to mull redistribution of $2bn portfolio http://www.opalesque.com/SWF_Briefing/?p=20657 http://www.opalesque.com/SWF_Briefing/?p=20657#comments Wed, 21 Sep 2016 03:28:44 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20657 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20657>Article Link</a> Abu Dhabi sovereign wealth fund Mubadala is considering re-distributing some of its $2bn worth of investments to another vehicle as part of the creation of an investment fund, according to Bloomberg. (more…)

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