Opalesque Sovereign Wealth Funds Briefing » Fund Management/Administration http://www.opalesque.com/SWF_Briefing Fri, 26 Aug 2016 01:38:23 +0000 http://wordpress.org/?v=2.5.1 en 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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MACC man’s 1MDB ‘not corruption’ logic mind-boggling http://www.opalesque.com/SWF_Briefing/?p=20401 http://www.opalesque.com/SWF_Briefing/?p=20401#comments Tue, 09 Aug 2016 01:53:01 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20401 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20401>Article Link</a> Former Malaysian Anti-Corruption Commission (MACC) deputy chief commissioner Zakaria Jaffar said, “1MDB doesn’t fall under MACC.” With such an idiotic top officer like him who once led MACC, no wonder the anti-corruption agency is now the laughingstock of the country. 1MBD is no investment scheme but a ‘scam’ to defraud Malaysians. (more…)

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MACC man’s 1MDB ‘not corruption’ logic mind-boggling http://www.opalesque.com/SWF_Briefing/?p=20394 http://www.opalesque.com/SWF_Briefing/?p=20394#comments Mon, 08 Aug 2016 01:38:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20394 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20394>Article Link</a> Former Malaysian Anti-Corruption Commission (MACC) deputy chief commissioner Zakaria Jaffar said, “1MDB doesn’t fall under MACC.” With such an idiotic top officer like him who once led MACC, no wonder the anti-corruption agency is now the laughingstock of the country. 1MBD is no investment scheme but a ‘scam’ to defraud Malaysians. (more…)

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Inside Ireland’s €8 billion Strategic Investment Fund http://www.opalesque.com/SWF_Briefing/?p=20392 http://www.opalesque.com/SWF_Briefing/?p=20392#comments Mon, 08 Aug 2016 01:38:07 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20392 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20392>Article Link</a> Abrakebabra; Lily O’Brien’s. The AA. Carrolls Cuisine. House building. Student accommodation. Office blocks. Loans to milk farmers. Life-changing drug treatments and technology R&D. Is there any part of the economy that the state-backed Irish Strategic Investment Fund (ISIF) doesn’t touch? (more…)

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Browne: Heritage & Stabilisation Fund not following best practices http://www.opalesque.com/SWF_Briefing/?p=20383 http://www.opalesque.com/SWF_Briefing/?p=20383#comments Thu, 04 Aug 2016 01:48:55 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20383 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20383>Article Link</a> Trinidad and Tobago’s sovereign wealth fund (SWF), the Heritage and Stabilisation Fund (HSF), is not following best practices as outlined in the Santiago Principles and exemplified by the Norway’s SWF, Mariano Browne, a former minister of state in the Ministry of Finance said last month. (more…)

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Malaysia forfeits US support with 1MDB graft http://www.opalesque.com/SWF_Briefing/?p=20369 http://www.opalesque.com/SWF_Briefing/?p=20369#comments Wed, 03 Aug 2016 01:50:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20369 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20369>Article Link</a> The US Justice Department’s decision to seize more than $1bn in assets allegedly stolen from Malaysia’s sovereign wealth fund has sent shockwaves through the Southeast Asian nation. Until the US announcement last month, most Malaysians were resigned to creeping authoritarianism in their country as the prime minister, Najib Razak, concentrated power in his hands and eviscerated the last vestiges of independent governance. (more…)

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Deloitte becomes third auditor in a row to quit scandal-hit 1MDB http://www.opalesque.com/SWF_Briefing/?p=20323 http://www.opalesque.com/SWF_Briefing/?p=20323#comments Thu, 28 Jul 2016 00:00:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20323 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20323>Article Link</a> Deloitte has resigned as auditor of 1Malaysia Development Berhad, as the scandal surrounding the Malaysian state investment fund reverberates through the global financial system. (more…)

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Deloitte Resigns as 1MDB Auditor http://www.opalesque.com/SWF_Briefing/?p=20316 http://www.opalesque.com/SWF_Briefing/?p=20316#comments Wed, 27 Jul 2016 03:15:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20316 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20316>Article Link</a> The Malaysian government investment fund says Deloitte Touche Tohmatsu resigned in February. The departure of a second auditor for a Malaysian government investment fund is putting focus on another global company that apparently failed to raise questions about what investigators are calling a large-scale fraud. (more…)

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The DoJ 1MDB complaint analysed: how the named banks fare http://www.opalesque.com/SWF_Briefing/?p=20311 http://www.opalesque.com/SWF_Briefing/?p=20311#comments Tue, 26 Jul 2016 01:34:41 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20311 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20311>Article Link</a> The US Department of Justice’s complaint seeking the recovery of assets related to the Malaysian sovereign wealth fund, 1MDB, is compelling reading. In a 136-page filing, a remarkable web of money transfers and illicit purchases is exposed. (more…)

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Singapore Vows Tougher Stance After 1MDB Dents Reputation http://www.opalesque.com/SWF_Briefing/?p=20310 http://www.opalesque.com/SWF_Briefing/?p=20310#comments Tue, 26 Jul 2016 01:34:30 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20310 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20310>Article Link</a> Singapore’s regulatory chief vowed stronger action to address the reputational damage caused by anti-money laundering lapses at banks in the city linked to the troubled state investment fund 1Malaysia Development Bhd. (more…)

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Pua: 1MDB ’social welfare’ paid with taxpayers debt http://www.opalesque.com/SWF_Briefing/?p=20306 http://www.opalesque.com/SWF_Briefing/?p=20306#comments Tue, 26 Jul 2016 01:33:39 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20306 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20306>Article Link</a> Prime Minister Najib Abdul Razak’s claim that 1MDB had contributed immensely to social welfare is a “farce” as it is funded by debt that is borne by taxpayers, Petaling Jaya Utara MP Tony Pua says. Najib yesterday praised 1MDB Foundation for donating RM10.4 million to sponsor 1,100 pilgrims to perform the Haj this year. (more…)

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QIA Makes Good on US Investment Promise—Again http://www.opalesque.com/SWF_Briefing/?p=20304 http://www.opalesque.com/SWF_Briefing/?p=20304#comments Tue, 26 Jul 2016 01:33:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20304 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20304>Article Link</a> In January 2015, visiting officials of the State of Qatar told the U.S. Chamber of Commerce that the country would invest $35 billion in the U.S. over the next five years, and it continues to do just that, with its latest investment being Qatari Investment Authority’s acquisition of the office tower at 12100 Wilshire Blvd. in Los Angeles. (more…)

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Who are 1MDB Officers 1, 2, 3 and the others in US list? http://www.opalesque.com/SWF_Briefing/?p=20296 http://www.opalesque.com/SWF_Briefing/?p=20296#comments Mon, 25 Jul 2016 04:28:00 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20296 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20296>Article Link</a> KiniGuide In the US Department of Justice’s recent filings related to the 1MDB scandal, among the relevant individuals named in the suit are ‘1MDB Officer 1’, ‘1MDB Officer 2’, and ‘1MDB Officer 3’. Like the much-reported ‘Malaysian Official 1’ in the document, the names of these other 1MDB officers are also concealed throughout the document. (more…)

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Were You at the 1MDB Party? http://www.opalesque.com/SWF_Briefing/?p=20292 http://www.opalesque.com/SWF_Briefing/?p=20292#comments Fri, 22 Jul 2016 03:20:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20292 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20292>Article Link</a> The thing with the kind of investigation currently engulfing Malaysia’s sovereign investment fund 1MDB is that it’s hard to assess where the risk for investors ends. Unless you know exactly who was involved and to what extent, you might have to add a premium or a discount for companies with potential dotted lines to the eye of the storm. (more…)

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US$731m siphoned from 1MDB to ‘Malaysian Official 1′ account, says DOJ http://www.opalesque.com/SWF_Briefing/?p=20290 http://www.opalesque.com/SWF_Briefing/?p=20290#comments Fri, 22 Jul 2016 03:19:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20290 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20290>Article Link</a> US$731 million was allegedly siphoned from Malaysia’s sovereign wealth fund 1MDB into a bank account owned by the unnamed ‘Malaysian Official 1′, according to the lawsuit filed by the US Department of Justice (DOJ) yesterday. (more…)

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Mexican Ambassador to Azerbaijan meets SOFAZ Executive Director http://www.opalesque.com/SWF_Briefing/?p=20278 http://www.opalesque.com/SWF_Briefing/?p=20278#comments Fri, 22 Jul 2016 03:16:56 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20278 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20278>Article Link</a> Ambassador of Mexico to the Republic of Azerbaijan Rodrigo Labardini accompanied by Head of the Competitive Technical Intelligence Unit of the Mexican Institute of Petroleum (IMP) Victor Ortiz has met with Executive Director of the State Oil Fund of Azerbaijan (SOFAZ) Shahmar Movsumov. (more…)

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Russia’s Reserve Fund, National Wealth Fund will not be depleted http://www.opalesque.com/SWF_Briefing/?p=20251 http://www.opalesque.com/SWF_Briefing/?p=20251#comments Tue, 19 Jul 2016 03:38:52 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20251 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20251>Article Link</a> The Reserve Fund and the National Wealth Fund will not be completely depleted, Russian Deputy Minister of Finance Alexeн Moiseev said in an interview with Rossiyskaya Gazeta newspaper to be published on Tuesday. (more…)

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Temasek’s Fullerton Unit Hires JPMorgan’s Singapore Head http://www.opalesque.com/SWF_Briefing/?p=20229 http://www.opalesque.com/SWF_Briefing/?p=20229#comments Mon, 18 Jul 2016 02:56:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20229 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20229>Article Link</a> Singapore state investor Temasek Holdings’ Fullerton Financial Holdings has hired Yeo Hong Ping, JPMorgan & Co’s Singapore head of investment banking, as a senior member of its management team. (more…)

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JPMorgan’s Singapore investment bank head to join Temasek unit http://www.opalesque.com/SWF_Briefing/?p=20226 http://www.opalesque.com/SWF_Briefing/?p=20226#comments Fri, 15 Jul 2016 03:26:34 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20226 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20226>Article Link</a> Fullerton Financial Holdings, an arm of Singapore investment company Temasek Holdings, has hired Yeo Hong Ping for a senior management role. Yeo is joining from JPMorgan Chase & Co, where he has worked since 2000, most recently as head of Singapore investment banking, according to a person with knowledge of the matter. (more…)

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Wealth fund’s investment circuit breaker http://www.opalesque.com/SWF_Briefing/?p=20202 http://www.opalesque.com/SWF_Briefing/?p=20202#comments Wed, 13 Jul 2016 03:29:07 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20202 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20202>Article Link</a> A leading Philippine power-generation corporation has effectively been blacklisted from access to the world’s biggest sovereign wealth fund, Norway’s Government Pension Fund Global (GPFG), an oil fund with assets of US$847.6 billion. (more…)

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‘Short-term’ brexit volatility had ‘fairly modest’ impact: Temasek http://www.opalesque.com/SWF_Briefing/?p=20176 http://www.opalesque.com/SWF_Briefing/?p=20176#comments Fri, 08 Jul 2016 01:26:53 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20176 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20176>Article Link</a> Temasek said on Thursday (July 7) that market volatility post-Brexit had only a “fairly modest” impact on its portfolio, and that it was not overly concerned about the short-term gyrations in the markets, given that its focus is on the long term. (more…)

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Head of State Oil Fund of Azerbaijan remains in Supervisory Board of VTB Bank http://www.opalesque.com/SWF_Briefing/?p=20163 http://www.opalesque.com/SWF_Briefing/?p=20163#comments Thu, 07 Jul 2016 03:48:12 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20163 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20163>Article Link</a> The Executive Director of the State Oil Fund of Azerbaijan (SOFAZ) Shahmar Movsumov was elected to the new Supervisory Board of VTB Bank, where he has been serving as an independent member since June 28, 2013. (more…)

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Russia On Course to Drain $87 Billion Fund in 2017 http://www.opalesque.com/SWF_Briefing/?p=20162 http://www.opalesque.com/SWF_Briefing/?p=20162#comments Thu, 07 Jul 2016 03:47:41 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20162 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20162>Article Link</a> At some point in 2017, Russia will deplete one of its two sovereign funds, after running through some $87 billion since 2014, according to a Finance Ministry spending proposal seen by Reuters. (more…)

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Iran’s National Development Fund loses director and executive board http://www.opalesque.com/SWF_Briefing/?p=20145 http://www.opalesque.com/SWF_Briefing/?p=20145#comments Mon, 04 Jul 2016 01:36:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20145 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20145>Article Link</a> Iranian President Hassan Rouhani has accepted the mass resignation of those on the board of trustees of Iran’s sovereign wealth fund as revelations about high compensation packages at state-owned firms take new casualties. (more…)

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Executives on top Iran fund resign en masse http://www.opalesque.com/SWF_Briefing/?p=20144 http://www.opalesque.com/SWF_Briefing/?p=20144#comments Mon, 04 Jul 2016 01:36:09 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20144 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20144>Article Link</a> “Minutes ago, the board of trustees of the National Development Fund held a session with President Rouhani in attendance, where the mass resignation of the director and executive board members was accepted,” the Fars news agency said Saturday. (more…)

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The 1MDB Affair: Malaysia Delegation in Abu Dhabi to Resolve Dispute http://www.opalesque.com/SWF_Briefing/?p=20133 http://www.opalesque.com/SWF_Briefing/?p=20133#comments Fri, 01 Jul 2016 01:54:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20133 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20133>Article Link</a> The two government investment funds at the heart of a Malaysian financial scandal are disappearing as the two sides try to put the situation behind them even as they battle over billions of dollars that have gone missing. (more…)

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Goldman Sachs Executive Says Libya Understood Derivatives http://www.opalesque.com/SWF_Briefing/?p=20129 http://www.opalesque.com/SWF_Briefing/?p=20129#comments Fri, 01 Jul 2016 01:53:30 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20129 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20129>Article Link</a> In $1.2 billion lawsuit, country’s sovereign-wealth fund accuses Goldman of leading novices into disastrous investment. A Goldman Sachs Group Inc. executive testified that Libya’s sovereign-wealth fund knew what it was doing when it bought derivatives from the bank that later soured, disputing allegations that Goldman led an inexperienced buyer into a disastrous investment. (more…)

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Libya wealth fund boss ‘screamed and cursed’ at Goldman bankers http://www.opalesque.com/SWF_Briefing/?p=20117 http://www.opalesque.com/SWF_Briefing/?p=20117#comments Thu, 30 Jun 2016 00:48:37 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20117 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20117>Article Link</a> The Libyan wealth fund’s former deputy chief screamed and cursed at Goldman Sachs bankers in a stormy meeting over derivatives trades made on the bank’s advice that ultimately turned out to be worthless, a witness told a court on Tuesday. (more…)

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Libyan fund officials didn’t understand Goldman trades: lawyer http://www.opalesque.com/SWF_Briefing/?p=20116 http://www.opalesque.com/SWF_Briefing/?p=20116#comments Thu, 30 Jun 2016 00:48:24 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20116 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20116>Article Link</a> Libya’s sovereign wealth fund was “astonished to learn” it hadn’t acquired any actual shares through derivatives trades arranged by Goldman Sachs, according to a former lawyer for the fund who gave evidence in the High Court in London on Tuesday. (more…)

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What does the Nigeria Sovereign Investment Authority (NSIA) think about the government’s planned $25 billion infrastructure fund? http://www.opalesque.com/SWF_Briefing/?p=20115 http://www.opalesque.com/SWF_Briefing/?p=20115#comments Thu, 30 Jun 2016 00:48:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20115 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20115>Article Link</a> Nigeria’s Vice President, Yemi Osinbajo has released a statement that the Buhari administration intends to spend $25 billion on an infrastructure fund to invest in the transport and energy sector as a way to develop the country’s failing road, rail and power structures to boost economic growth. (more…)

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Ministerial committee to conduct studies on sovereign wealth fund Amlak http://www.opalesque.com/SWF_Briefing/?p=20102 http://www.opalesque.com/SWF_Briefing/?p=20102#comments Wed, 29 Jun 2016 04:22:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20102 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20102>Article Link</a> A ministerial committee is set to work with local and international advisory bodies to conduct economic, financial, and administrative studies on Egypt’s proposed sovereign wealth fund Amlak, Al Borsa reported on Monday. (more…)

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

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

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

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

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

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New CIO Named at Korea Investment Corp http://www.opalesque.com/SWF_Briefing/?p=20032 http://www.opalesque.com/SWF_Briefing/?p=20032#comments Wed, 15 Jun 2016 01:48:03 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20032 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20032>Article Link</a> Days after news broke of CIO Heung-sik Choo’s departure for the World Bank, the Korea Investment Corporation (KIC) has announced its next investment chief. As of June 13, Shinwoo Kang leads investments for KIC, the $91.8 billion sovereign wealth fund said Tuesday. Kang is the fifth CIO since the fund’s 2005 launch. (more…)

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Former Goldman Sachs executive denies paying for ‘improper entertainment’ in LIA case http://www.opalesque.com/SWF_Briefing/?p=20027 http://www.opalesque.com/SWF_Briefing/?p=20027#comments Wed, 15 Jun 2016 01:47:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20027 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20027>Article Link</a> A Goldman Sachs executive at the centre of a $1.2 billion (£850 million) claim brought by Libya’s sovereign wealth fund has denied allegations he paid for “improper entertainment” for himself and the younger brother of a key decision-maker at the fund on a business trip. (more…)

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Libyan fund alleges Goldman took advantage of its inexperience http://www.opalesque.com/SWF_Briefing/?p=20026 http://www.opalesque.com/SWF_Briefing/?p=20026#comments Wed, 15 Jun 2016 01:46:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20026 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20026>Article Link</a> Libya’s sovereign wealth fund, in a long-awaited trial that started on June 13, alleged Goldman Sachs took advantage of its lack of financial sophistication to draw it into losing trades. Emails in the case show Goldman executives saying that the Libyan fund had little experience in finance. “They are very unsophisticated – and anyone could ‘rape’ them,” one executive wrote in 2008. (more…)

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ANZ Strategist Sam Tuck Quits to Join Sovereign Wealth Fund http://www.opalesque.com/SWF_Briefing/?p=20004 http://www.opalesque.com/SWF_Briefing/?p=20004#comments Mon, 13 Jun 2016 01:56:14 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20004 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20004>Article Link</a> Sam Tuck, a senior currency strategist at ANZ Bank New Zealand Ltd. in Auckland, said he is leaving the company to join the country’s sovereign wealth fund. “Today is my last day at ANZ,” he wrote in an e-mail Friday. Tuck, 38, said via instant message he will join the New Zealand Superannuation Fund. (more…)

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India Says National Infra Fund CEO To Be Appointed Shortly http://www.opalesque.com/SWF_Briefing/?p=20001 http://www.opalesque.com/SWF_Briefing/?p=20001#comments Fri, 10 Jun 2016 02:49:58 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20001 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20001>Article Link</a> The National Investment and Infrastructure Fund (NIIF), India’s maiden sovereign wealth fund, will in “imminent” future get its chief executive, an appointment that was holding up the roll-out of investment proposals. (more…)

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How to Manage $2 Trillion If You’re New at It http://www.opalesque.com/SWF_Briefing/?p=19994 http://www.opalesque.com/SWF_Briefing/?p=19994#comments Fri, 10 Jun 2016 02:48:21 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19994 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19994>Article Link</a> Saudi Arabia is about to confront a serious challenge: Where and how to invest the money in a gigantic new sovereign wealth fund created as part of an effort to diversify its economy and pivot away from its dependence on oil. (more…)

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Indian FM Arun Jaitley reviews sovereign wealth fund’s status http://www.opalesque.com/SWF_Briefing/?p=19991 http://www.opalesque.com/SWF_Briefing/?p=19991#comments Thu, 09 Jun 2016 01:49:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19991 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19991>Article Link</a> A panel headed by Finance Minister Arun Jaitley on Wednesday took stock of the progress made on operationalising India’s maiden sovereign wealth fund National Investment and Infrastructure Fund (NIIF), including the selection of its CEO and projects shortlisted for making initial investments. (more…)

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Norway to raise spending from wealth fund -statistics agency http://www.opalesque.com/SWF_Briefing/?p=19955 http://www.opalesque.com/SWF_Briefing/?p=19955#comments Fri, 03 Jun 2016 04:00:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19955 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19955>Article Link</a> Norway will probably continue to increase the spending of money from its $860 billion sovereign wealth fund next year as the government battles an economic downturn, Statistics Norway’s chief forecaster Torbjoern Eika (SSB) predicted on Thursday. (more…)

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India mulls ‘outcome-linked’ incentive for NIIF chief http://www.opalesque.com/SWF_Briefing/?p=19942 http://www.opalesque.com/SWF_Briefing/?p=19942#comments Thu, 02 Jun 2016 02:09:51 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19942 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19942>Article Link</a> The government is considering an ‘outcome-linked’ payment package as part of incentives for the recruitment of a chief executive of India’s first sovereign wealth fund, the National Investment and Infrastructure Fund (NIIF). (more…)

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New 1MDB board must find out what happened to US$7 billion http://www.opalesque.com/SWF_Briefing/?p=19935 http://www.opalesque.com/SWF_Briefing/?p=19935#comments Thu, 02 Jun 2016 02:04:32 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=19935 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=19935>Article Link</a> The new 1MDB board of directors must immediately instruct auditors Deloitte to resume its audit of the firm so as to get a full picture of the company’s financial standing, Petaling Jaya Utara MP Tony Pua said. The audit is on the financial year ending March 31, 2015 and March 31, 2016. (more…)

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