Opalesque Sovereign Wealth Funds Briefing » Fund Management/Administration http://www.opalesque.com/SWF_Briefing Wed, 30 Nov 2016 00:20:03 +0000 http://wordpress.org/?v=2.5.1 en Taking charge in time of lower returns http://www.opalesque.com/SWF_Briefing/?p=21084 http://www.opalesque.com/SWF_Briefing/?p=21084#comments Tue, 29 Nov 2016 03:03:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=21084 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=21084>Article Link</a> That the announcement of various changes to the leadership team at GIC - including the elevation of Mr Lim Chow Kiat to chief executive - caused barely a stir speaks of the confidence the general public has in the sovereign wealth fund’s ability to continue managing Singapore’s foreign reserves ably. (more…)

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Saudi fund hires HSBC for potential purchase of ACWA Power stake http://www.opalesque.com/SWF_Briefing/?p=21077 http://www.opalesque.com/SWF_Briefing/?p=21077#comments Thu, 24 Nov 2016 23:30:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=21077 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=21077>Article Link</a> Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has hired HSBC to advise it on a potential purchase of a stake in ACWA Power, a developer and operator of power and water plants, sources close to the matter said. (more…)

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New CEO for Singapore’s GIC http://www.opalesque.com/SWF_Briefing/?p=21069 http://www.opalesque.com/SWF_Briefing/?p=21069#comments Wed, 23 Nov 2016 23:45:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=21069 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=21069>Article Link</a> Lim Chow Kiat has been appointed as the new chief executive officer (CEO) of Singaporean sovereign wealth fund (SWF) GIC Private Ltd (GIC), effective from January 1, 2017. Lim is currently the deputy group president and group chief investment officer (CIO) at the SWF. “As I take on this bigger role, I will continue to be guided by the values of our pioneers, particularly that of long-termism,” the new CEO told Singapore’s Business Times. (more…)

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Management Moves at Singapore Wealth Fund http://www.opalesque.com/SWF_Briefing/?p=21064 http://www.opalesque.com/SWF_Briefing/?p=21064#comments Tue, 22 Nov 2016 23:42:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=21064 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=21064>Article Link</a> Singapore sovereign wealth fund GIC has appointed a new Chief Executive Officer and calibrated its management structure both in Singapore and overseas. With effect from 1 January 2017, Lim Chow Kiat will take on the role of Chief Executive Officer (CEO). He is currently the Deputy Group President and the Group Chief Investment Officer. (more…)

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Singapore’s wealth fund chooses new boss to navigate weaker growth http://www.opalesque.com/SWF_Briefing/?p=21060 http://www.opalesque.com/SWF_Briefing/?p=21060#comments Mon, 21 Nov 2016 23:43:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=21060 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=21060>Article Link</a> One of the world’s largest sovereign wealth funds has chosen a new chief executive as it braces for a decade of lower earnings. GIC, the sovereign wealth fund of Singapore, has hired Lim Chow Kiat to be its new boss, overseeing $100bn in assets spanning 40 countries. (more…)

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Tough challenges ahead for incoming GIC chief http://www.opalesque.com/SWF_Briefing/?p=21058 http://www.opalesque.com/SWF_Briefing/?p=21058#comments Mon, 21 Nov 2016 23:42:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=21058 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=21058>Article Link</a> The appointment of seasoned investor Lim Chow Kiat as the chief executive officer of GIC comes as the Singapore sovereign wealth fund is facing a slower rate of returns. And a range of challenges lies ahead for Mr Lim, given the increasing volatility across the world. (more…)

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Kingdom’s Sovereign Fund Fills Key Positions as It Prepares for Vision 2030 http://www.opalesque.com/SWF_Briefing/?p=21050 http://www.opalesque.com/SWF_Briefing/?p=21050#comments Mon, 21 Nov 2016 00:03:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=21050 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=21050>Article Link</a> Saudi Arabia’s Public Investment Fund (PIF), its main sovereign wealth fund, announced on Thursday it had filled key posts as part of plans to expand investment capacity and help reduce the kingdom’s dependence on oil income. (more…)

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Saudi sovereign fund fills key positions as it bulks up for reform drive http://www.opalesque.com/SWF_Briefing/?p=21043 http://www.opalesque.com/SWF_Briefing/?p=21043#comments Thu, 17 Nov 2016 23:52:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=21043 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=21043>Article Link</a> Saudi Arabia’s Public Investment Fund (PIF), its main sovereign wealth fund, said on Thursday it had filled key posts as part of plans to expand investment capacity and help reduce the kingdom’s dependence on oil income. (more…)

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Kinstellar advises Singapore sovereign wealth fund on €2.4bn acquisition http://www.opalesque.com/SWF_Briefing/?p=21028 http://www.opalesque.com/SWF_Briefing/?p=21028#comments Thu, 17 Nov 2016 02:06:33 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=21028 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=21028>Article Link</a> Kinstellar teams in Bulgaria, the Czech Republic, Romania, Serbia and Slovakia have successfully advised GIC, Singapore’s sovereign wealth fund, on its €2.4bn acquisition of the European logistics property company P3 Logistic Parks, which is described as the largest European real estate deal this year. (more…)

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Freshies, Kirkland star in GIC’s $2.7 bln real estate deal http://www.opalesque.com/SWF_Briefing/?p=20980 http://www.opalesque.com/SWF_Briefing/?p=20980#comments Fri, 11 Nov 2016 01:07:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20980 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20980>Article Link</a> Kirkland & Ellis has advised Singapore sovereign wealth fund GIC on its 2.4-billion-euro ($2.7 billion) acquisition of P3 Logistic Parks from Ivanhoé Cambridge and TPG Real Estate, which were represented by Freshfields Bruckhaus Deringer. (more…)

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Credit Suisse hired to sell RBS’s Saudi Hollandi Bank stake http://www.opalesque.com/SWF_Briefing/?p=20970 http://www.opalesque.com/SWF_Briefing/?p=20970#comments Wed, 09 Nov 2016 00:03:30 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20970 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20970>Article Link</a> Credit Suisse has been appointed to sell Royal Bank of Scotland’s 40 percent stake in Saudi Hollandi Bank 1040.SE, sources aware of the matter said on Tuesday, in a deal potentially worth around $1.2 billion. (more…)

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HKMA supports AIIB’s use of Hong Kong as financing centre http://www.opalesque.com/SWF_Briefing/?p=20965 http://www.opalesque.com/SWF_Briefing/?p=20965#comments Wed, 09 Nov 2016 00:01:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20965 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20965>Article Link</a> The following is issued on behalf of the Hong Kong Monetary Authority: The President of the Asian Infrastructure Investment Bank (AIIB), Mr Jin Liqun, spoke at a high-level business seminar in Hong Kong today (November 8). The seminar, organised by the Infrastructure Financing Facilitation Office (IFFO) of the Hong Kong Monetary Authority (HKMA) and entitled “President Jin Liqun on AIIB’s Operations and Projects”, attracted close to 300 industry leaders from various sectors including finance, architecture, building and construction engineering, project management and consulting, project development and operation, as well as professional services. (more…)

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Pak Lah backs Najib to fix 1MDB http://www.opalesque.com/SWF_Briefing/?p=20946 http://www.opalesque.com/SWF_Briefing/?p=20946#comments Thu, 03 Nov 2016 23:31:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20946 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20946>Article Link</a> Former Prime Minister Tun Abdullah Ahmad Badawi believes Datuk Seri Najib Razak should get the chance to resolve the 1Malaysia Development Berhad (1MDB) controversy and restore stability in the country. In Abdullah’s authorised biography Being Abdullah Ahmad Badawi, author Datuk Wong Sulong said that Abdullah had publicly endorsed Najib by agreeing to launch a book commemorating the latter’s 40 years in politics in February this year. (more…)

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PNG Government to announce SWF board in 2017 http://www.opalesque.com/SWF_Briefing/?p=20940 http://www.opalesque.com/SWF_Briefing/?p=20940#comments Wed, 02 Nov 2016 23:37:07 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20940 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20940>Article Link</a> The Government will announce the establishment of the Sovereign Wealth Fund board to manage the Fund in early 2017. Treasurer Patrick Pruaitch, when delivering his 2017 Budget speech in Parliament yesterday, said an independent firm has been engaged to carry out a comprehensive executive search in the domestic and international labour market. This is to identify and recommend suitable candidates for appointment as chairman and members of the PNGSWF board. (more…)

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1MDB yet to find new auditor http://www.opalesque.com/SWF_Briefing/?p=20899 http://www.opalesque.com/SWF_Briefing/?p=20899#comments Fri, 28 Oct 2016 01:44:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20899 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20899>Article Link</a> This means 1MDB is unable to submit its financial statement despite being given two six-month extensions by the Companies Commission of Malaysia, says report. 1MDB has yet to appoint a new auditor to take over from Deloitte Malaysia, which resigned in July, Second Finance Minister Johari Abdul Ghani said. (more…)

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HKMA says cybersecurity is not a barrier to digitalization http://www.opalesque.com/SWF_Briefing/?p=20896 http://www.opalesque.com/SWF_Briefing/?p=20896#comments Wed, 26 Oct 2016 22:24:00 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20896 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20896>Article Link</a> With the launch of Hong Kong’s Cybersecurity Fortification Initiative (CFI), financial services insiders believe cybersecurity should no longer be viewed as a barrier that must be hurdled along the road to digitalization. (more…)

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The Norwegian Wealth Fund’s Political Unity is Cracking http://www.opalesque.com/SWF_Briefing/?p=20877 http://www.opalesque.com/SWF_Briefing/?p=20877#comments Mon, 24 Oct 2016 02:51:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20877 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20877>Article Link</a> The five million people of Norway are currently sitting on a great pile of cash thanks to their sovereign wealth fund, in charge of investing abroad the income generated by the country’s oil and gas sales. Although “publicly-owned,” the fund is an institutional financial investor driven both by a long-term perspective and ethical concerns. Yet, current circumstances are breaking the existing political consensus about the fund. (more…)

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China Sovereign Wealth Fund Brings in More New Blood http://www.opalesque.com/SWF_Briefing/?p=20875 http://www.opalesque.com/SWF_Briefing/?p=20875#comments Mon, 24 Oct 2016 02:49:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20875 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20875>Article Link</a> China’s sovereign wealth fund has appointed a former China Everbright Group veteran as its vice president, Caixin has learned. Liu Jun, former deputy general manager of China Everbright Group, joined China Investment Corp. (CIC) on Friday, according to people with knowledge of the matter. (more…)

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Norway’s oil wealth swamps innovation http://www.opalesque.com/SWF_Briefing/?p=20855 http://www.opalesque.com/SWF_Briefing/?p=20855#comments Wed, 19 Oct 2016 22:36:45 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20855 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20855>Article Link</a> The turnstiles are left open on Oslo’s impeccable network of subways and trams. Perhaps it is because Norwegians can be trusted to pay the high fares, or perhaps because the city is rich enough anyway. (more…)

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What price Goldman’s reputation? http://www.opalesque.com/SWF_Briefing/?p=20830 http://www.opalesque.com/SWF_Briefing/?p=20830#comments Mon, 17 Oct 2016 00:30:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20830 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20830>Article Link</a> It is easy to look at the financial world today and see nothing but a spiral of disorder, dysfunction and decline perpetuated by bankers who preside and profit over controversy after controversy. Goldman Sachs won a $1 billion lawsuit brought against it by the Libyan Investment Authority (LIA). It is a sovereign wealth fund set up by former dictator Muammer Gaddafi with $65 billion of assets under management. (more…)

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Norway’s wealth fund says sterling flash crash reflects economic prospects http://www.opalesque.com/SWF_Briefing/?p=20808 http://www.opalesque.com/SWF_Briefing/?p=20808#comments Thu, 13 Oct 2016 02:24:33 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20808 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20808>Article Link</a> The Norwegian wealth fund owns shares in most top British companies and holds $11 billion in UK government bonds. It co-owns Regent Street, one of London’s premier shopping areas. Britain is its second-largest investment location after the United States, accounting for 10.2 percent of the fund’s value at end-2015. (more…)

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Oil Fund of Azerbaijan refuses to participate in privatization of Bank VTB http://www.opalesque.com/SWF_Briefing/?p=20803 http://www.opalesque.com/SWF_Briefing/?p=20803#comments Thu, 13 Oct 2016 02:22:34 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20803 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20803>Article Link</a> The State Oil Fund of Azerbaijan (SOFAZ) has declined to participate in the privatization of Russia’s Bank VTB, in which it has an equity stake. SOFAZ executive director Shahmar Movsumov says that privatization of Bank VTB is scheduled for 2017. (more…)

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Saudi Wealth Fund to Cut Back on Lending in Transformation Plan http://www.opalesque.com/SWF_Briefing/?p=20789 http://www.opalesque.com/SWF_Briefing/?p=20789#comments Wed, 12 Oct 2016 02:24:51 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20789 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20789>Article Link</a> Saudi Arabia’s Public Investment Fund is set to cut back on lending to domestic projects, which has increased by more than 80 percent over the past five years, as part of plans to transform the institution into the world’s largest sovereign wealth fund. (more…)

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Ex-BSI Bankers Charged in Singapore Linked to Partying Financier http://www.opalesque.com/SWF_Briefing/?p=20786 http://www.opalesque.com/SWF_Briefing/?p=20786#comments Mon, 10 Oct 2016 22:32:38 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20786 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20786>Article Link</a> Singapore authorities charged two ex-BSI SA bank employees in a case linked to an embattled Malaysian investment fund at the center of international probes, accusing them of failing to disclose suspicious transactions involving a high-living financier. (more…)

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Singapore’s Temasek names new North America head http://www.opalesque.com/SWF_Briefing/?p=20784 http://www.opalesque.com/SWF_Briefing/?p=20784#comments Mon, 10 Oct 2016 22:31:39 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20784 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20784>Article Link</a> Temasek International (TI), a wholly-owned international affiliate of Singaporean sovereign wealth fund Temasek Holdings (Temasek), has appointed former Goldman Sachs’ investment banking division global mergers and acquisitions (M&A) co-chairman John Vaske as joint head, North America. (more…)

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Norway’s wealth fund says closely monitoring Deutsche Bank http://www.opalesque.com/SWF_Briefing/?p=20779 http://www.opalesque.com/SWF_Briefing/?p=20779#comments Sun, 09 Oct 2016 23:58:30 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20779 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20779>Article Link</a> Norway’s $882-billion sovereign wealth fund, the world’s biggest, is closely monitoring developments at Deutsche Bank, the fund’s deputy chief executive said on Friday. “We don’t want to comment on the possibility of raising capital,” Trond Grande told Reuters on the sidelines of the fund’s third-quarter earnings presentation. (more…)

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Temasek names Goldman Sachs vet as North America joint head http://www.opalesque.com/SWF_Briefing/?p=20765 http://www.opalesque.com/SWF_Briefing/?p=20765#comments Thu, 06 Oct 2016 23:04:17 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20765 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20765>Article Link</a> Singapore state investor Temasek Holdings (Pte) Ltd hired veteran Goldman Sachs dealmaker John Vaske as joint head, North America, effective Jan. 16. (more…)

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Government to enact the Sovereign Wealth Fund Secretariat http://www.opalesque.com/SWF_Briefing/?p=20754 http://www.opalesque.com/SWF_Briefing/?p=20754#comments Wed, 05 Oct 2016 23:38:18 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20754 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20754>Article Link</a> The National Government is expected to formalise the establishment of the Administrative Secretariat of the Sovereign Wealth Fund (SWF) of Papua New Guinea at the Central Bank. “The Bank has sought external technical assistance to establish the Administrative Secretariat of the SWF.” (more…)

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Chairman and CEO of Libyan Investment Authority: I Demand Continuity of Libyan Funds’ Immobilization http://www.opalesque.com/SWF_Briefing/?p=20753 http://www.opalesque.com/SWF_Briefing/?p=20753#comments Wed, 05 Oct 2016 23:37:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20753 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20753>Article Link</a> Cairo- AbdulMagid AbdulSalam Breish, Chairman and CEO of the Libyan Investment Authority in Tripoli, revealed to Asharq al-Awsat that several meetings were held with Tobruk LIA Chairman Fawzi Omran Farkash in the past few weeks. (more…)

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Papua New Guinea: Work on establishing SWF progressing: Secretary http://www.opalesque.com/SWF_Briefing/?p=20748 http://www.opalesque.com/SWF_Briefing/?p=20748#comments Wed, 05 Oct 2016 02:14:38 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20748 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20748>Article Link</a> Treasury Secretary Dairi Vele says work on the establishment of a sovereign wealth fund for Papua New Guinea is progressing well. “There are no impediments on the operationalisation of the sovereign wealth fund (SWF),” Vele sad. “The work is progressing very well.” (more…)

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Libyan wealth fund hampered by power struggles, sanctions http://www.opalesque.com/SWF_Briefing/?p=20744 http://www.opalesque.com/SWF_Briefing/?p=20744#comments Tue, 04 Oct 2016 01:01:44 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20744 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20744>Article Link</a> A protracted power struggle over Libya’s $67 billion sovereign wealth fund risks becoming even more complicated as rival claimants for its chairmanship challenge a bid for control by a U.N.-backed government in Tripoli. (more…)

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SOFAZ to reduce transfers to state budget in 2017 http://www.opalesque.com/SWF_Briefing/?p=20727 http://www.opalesque.com/SWF_Briefing/?p=20727#comments Fri, 30 Sep 2016 00:10:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20727 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20727>Article Link</a> Transfers of Azerbaijan’s state oil fund SOFAZ to the state budget is expected at the level of 6.1 billion manats (1.6252 AZN/USD on Sept. 29) in 2017 that is by 1.515 billion manats (19.9 percent) less than in 2016, according to the presentation of the state and consolidated budget projects for 2017 that was made public Sept. 29 by the country’s Finance Ministry. (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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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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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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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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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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Tripoli and Malta LIA handover to PC/GNA Interim Steering Committee http://www.opalesque.com/SWF_Briefing/?p=20612 http://www.opalesque.com/SWF_Briefing/?p=20612#comments Mon, 12 Sep 2016 01:16:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20612 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20612>Article Link</a> The management of the Libya Investment Authority (LIA) in both Malta and Tripoli handed over the administration of the sovereign wealth investment body yesterday to the Interim Steering Committee appointed by the Faiez Serraj Presidency Council/Government of National Accord (PC/GNA). (more…)

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Presidential Council Appoints Steering Committee to manage LIA http://www.opalesque.com/SWF_Briefing/?p=20605 http://www.opalesque.com/SWF_Briefing/?p=20605#comments Fri, 09 Sep 2016 01:18:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20605 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20605>Article Link</a> The Presidential Council recently issued an order to establish a temporary Steering Committee to manage the Libyan Investment Authority (LIA). The motive behind the decision seems sincere – to unite the leadership of our nation’s sovereign wealth fund. However on closer inspection, the decision is bad for the LIA, and bad for Libya. (more…)

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LIA in Tripoli dismisses claims of handover to steering committee as “simply untrue” http://www.opalesque.com/SWF_Briefing/?p=20604 http://www.opalesque.com/SWF_Briefing/?p=20604#comments Fri, 09 Sep 2016 01:18:13 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20604 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20604>Article Link</a> The Libyan Investment Authority (LIA) in Tripoli has dismissed reports today of a handover of power to an interim steering committee, confirming that AbdulMagid Breish remains Chairman of the sovereign wealth fund. (more…)

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Mubadala chief signals more oil deals as Ipic merger advances http://www.opalesque.com/SWF_Briefing/?p=20595 http://www.opalesque.com/SWF_Briefing/?p=20595#comments Thu, 08 Sep 2016 01:18:26 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20595 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20595>Article Link</a> Mubadala Development Company, the Abu Dhabi sovereign wealth fund merging with International Petroleum Investment Co (Ipic), said potential energy deals are more attractive after the slump in oil prices drove down asset prices. (more…)

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Norway’s central bank to publish minutes of board meetings http://www.opalesque.com/SWF_Briefing/?p=20586 http://www.opalesque.com/SWF_Briefing/?p=20586#comments Wed, 07 Sep 2016 04:10:58 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20586 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20586>Article Link</a> Norway’s central bank will start publishing the minutes of its board meetings and aims to become more transparent even though discussions on monetary policy will remain exempt, the bank said on Tuesday. (more…)

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SMRT shareholders to vote on Temasek offer on Sept 29 http://www.opalesque.com/SWF_Briefing/?p=20582 http://www.opalesque.com/SWF_Briefing/?p=20582#comments Tue, 06 Sep 2016 04:18:37 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20582 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20582>Article Link</a> The move to take listed SMRT private will face a public test at the end of the month, when minority shareholders vote on whether to approve the acquisition by Temasek Holdings, the Republic’s investment firm. (more…)

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Company to manage Sovereign Wealth Fund established http://www.opalesque.com/SWF_Briefing/?p=20527 http://www.opalesque.com/SWF_Briefing/?p=20527#comments Mon, 29 Aug 2016 01:47:49 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20527 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20527>Article Link</a> A mnagement company for the Sovereign Wealth Fund (SWF), which will be in charge of founding and managing the SWF and its relevant subsidiary funds, has been established. The legislation to establish the SWF Management Inc., as well as amendments to various laws, has taken effect after being published in the official gazette. (more…)

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Libyan Investment Authority issue statement regarding the Interim Steering Committee http://www.opalesque.com/SWF_Briefing/?p=20500 http://www.opalesque.com/SWF_Briefing/?p=20500#comments Wed, 24 Aug 2016 03:25:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20500 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20500>Article Link</a> Abdulmagid Breish, Chairman and Chief Executive Officer of the Libyan Investment Authority (LIA), takes note of the purported appointment by the Tobruk-based Board of Trustees of Mr Ali Shamekh as chief executive officer of the Tobruk parallel operation. Mr Breish also takes note of the presentation by Mr Hassan Bouhadi of his resignation as purported chairman of the Tobruk parallel operation. (more…)

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Turkey: Sovereign Wealth Fund to be fully transparent http://www.opalesque.com/SWF_Briefing/?p=20495 http://www.opalesque.com/SWF_Briefing/?p=20495#comments Tue, 23 Aug 2016 01:26:03 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20495 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20495>Article Link</a> Finance Minister Naci Ağbal said that the Turkish Sovereign Wealth Fund (SWF) was prepared in accordance with the best international practices and it will not be drawn from the current budget. (more…)

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New Zealand SWF awards factor investing mandates to Northern Trust http://www.opalesque.com/SWF_Briefing/?p=20492 http://www.opalesque.com/SWF_Briefing/?p=20492#comments Tue, 23 Aug 2016 01:25:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20492 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20492>Article Link</a> The New Zealand Superannuation (NZ Super) fund has appointed Northern Trust Asset Management to manage two new factor investing mandates, extending a relationship first established in 2007, the sovereign wealth fund (SWF) announced. (more…)

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Multiple reshuffles stir up Libyan sovereign wealth fund http://www.opalesque.com/SWF_Briefing/?p=20484 http://www.opalesque.com/SWF_Briefing/?p=20484#comments Mon, 22 Aug 2016 01:48:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20484 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20484>Article Link</a> The Libyan Investment Authority is undergoing drastic changes, as key members resigned last week followed by Libya’s unity government appointing a new management team for the country’s main sovereign wealth fund Monday. The Presidency Council of the Tripoli-based Government of National Accord on Monday appointed a steering committee to temporarily assume the leadership of the LIA, Libya’s largest state fund worth approximately $67 billion. (more…)

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Oslo ruffles feathers as it taps Norway’s oil fund http://www.opalesque.com/SWF_Briefing/?p=20462 http://www.opalesque.com/SWF_Briefing/?p=20462#comments Thu, 18 Aug 2016 01:35:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20462 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20462>Article Link</a> First withdrawal in decades stirs debate over fund’s future and how much level of risk it should take on. This year will prove to be a watershed for the world’s largest sovereign wealth fund as, for the first time in two decades, Norway’s $890bn oil fund will have money taken out by the government in Oslo. (more…)

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Abu Dhabi hires advisers for sovereign fund merger http://www.opalesque.com/SWF_Briefing/?p=20454 http://www.opalesque.com/SWF_Briefing/?p=20454#comments Wed, 17 Aug 2016 02:10:59 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20454 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20454>Article Link</a> Abu Dhabi’s government has hired Bain & Co and Landor Associates to advise on the merger of two of the oil-rich emirate’s biggest sovereign funds, a source familiar with the matter told Reuters. (more…)

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Libya’s U.N.-backed government appoints panel to run $67 billion wealth fund http://www.opalesque.com/SWF_Briefing/?p=20451 http://www.opalesque.com/SWF_Briefing/?p=20451#comments Wed, 17 Aug 2016 02:09:18 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20451 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20451>Article Link</a> Libya’s U.N.-backed government said on Monday it was appointing a five-member caretaker committee to run the country’s $67 billion (52.03 billion pounds) sovereign wealth fund. The Government of National Accord (GNA) said in a statement that the committee should not dispose of Libyan Investment Authority (LIA) assets and should protect the fund’s rights and follow all legal cases it is involved in. (more…)

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Libya’s Unity Government Appoints New Wealth Fund Leadership http://www.opalesque.com/SWF_Briefing/?p=20450 http://www.opalesque.com/SWF_Briefing/?p=20450#comments Wed, 17 Aug 2016 02:09:07 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20450 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20450>Article Link</a> Libya’s government appointed a steering committee to head the country’s $60 billion sovereign wealth fund, where rifts have hindered efforts to unite financial institutions in the fractured North African oil exporter. (more…)

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Greenko takes advantage of its Singapore ownership http://www.opalesque.com/SWF_Briefing/?p=20448 http://www.opalesque.com/SWF_Briefing/?p=20448#comments Wed, 17 Aug 2016 02:08:41 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20448 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20448>Article Link</a> Indian renewable energy company Greenko has taken advantage of its Singapore ownership and surging demand for Indian credit to price $500 million of Single B rated bonds below 5%. (more…)

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Libya’s U.N.-backed government appoints panel to run $67 bln wealth fund http://www.opalesque.com/SWF_Briefing/?p=20442 http://www.opalesque.com/SWF_Briefing/?p=20442#comments Tue, 16 Aug 2016 00:25:33 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20442 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20442>Article Link</a> Libya’s U.N.-backed government said on Monday it was appointing a five-member caretaker committee to run the country’s $67 billion sovereign wealth fund. The Government of National Accord said in a statement that the committee should not dispose of Libyan Investment Authority assets and should protect the fund’s rights and follow all legal cases it is involved in. (more…)

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Turkey: Government making headway with Sovereign Wealth Fund http://www.opalesque.com/SWF_Briefing/?p=20441 http://www.opalesque.com/SWF_Briefing/?p=20441#comments Tue, 16 Aug 2016 00:25:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20441 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20441>Article Link</a> The Government is making headway in bringing the country`s first Sovereign Wealth fund into fruition. Cabinet on August 3, advised the Attorney General’s Chambers to commence the drafting of the Sovereign Wealth Fund Bill which will bring the fund into effect. (more…)

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Abu Dhabi Officials Linked to ‘Wolf of Wall Street’ Corruption Scandal Investigated in Switzerland http://www.opalesque.com/SWF_Briefing/?p=20440 http://www.opalesque.com/SWF_Briefing/?p=20440#comments Tue, 16 Aug 2016 00:25:07 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20440 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20440>Article Link</a> Khadem al-Qubaisi, whose investment vehicle owns the Hakkasan group, and Mohamed al-Husseiny, who was put forward by Red Granite as the financier of ‘The Wolf of Wall Street,’ are being investigated. (more…)

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One of two rival chairmen of Libya sovereign fund quits http://www.opalesque.com/SWF_Briefing/?p=20435 http://www.opalesque.com/SWF_Briefing/?p=20435#comments Mon, 15 Aug 2016 03:57:04 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20435 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20435>Article Link</a> One of two men claiming the chairmanship of Libya’s $67 billion sovereign wealth fund, Hassan Bouhadi, has tendered his resignation, his spokesman said on Friday. Libya’s political infighting made it too difficult to conduct business, Bouhadi said in his resignation letter, seen by Reuters. (more…)

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Saudi Aramco appoints chief of sovereign wealth fund to board http://www.opalesque.com/SWF_Briefing/?p=20422 http://www.opalesque.com/SWF_Briefing/?p=20422#comments Thu, 11 Aug 2016 03:23:54 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20422 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20422>Article Link</a> State oil giant Saudi Aramco has appointed to its board Yasir al-Rumayyan, managing director of its top sovereign wealth fund, in a sign that the two institutions plan to cooperate closely to restructure the economy in an era of low oil prices. (more…)

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HKMA: Individuals Act as HKMC Employees to Falsely Solicit Biz; Reported to Police http://www.opalesque.com/SWF_Briefing/?p=20416 http://www.opalesque.com/SWF_Briefing/?p=20416#comments Thu, 11 Aug 2016 03:22:38 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20416 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20416>Article Link</a> Hong Kong Monetary Authority (HKMA) announced that it has come to the notice of the Hong Kong Mortgage Corporation Limited (HKMC) that there have been cases of individuals posing as its employees to falsely solicit business opportunities. (more…)

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