Opalesque Sovereign Wealth Funds Briefing » Fund Management/Administration http://www.opalesque.com/SWF_Briefing Thu, 17 Apr 2014 02:24:48 +0000 http://wordpress.org/?v=2.5.1 en Norway to examine return on $850bln wealth fund before restructuring http://www.opalesque.com/SWF_Briefing/?p=15045 http://www.opalesque.com/SWF_Briefing/?p=15045#comments Thu, 10 Apr 2014 00:57:45 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15045 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15045>Article Link</a> Norway will wait to see whether property investments by its $850bn (€616bn) sovereign wealth fund pay off before considering new asset classes including infrastructure and private equity. “Whether we do it next year or the year after, that hasn’t been decided,” Paal Bjoernestad, state secretary in charge of the fund at the Finance Ministry, said. “We will come back to it – it’s not off the table.” (more…)

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LIA presents its 2013 annual report to Audit Bureau http://www.opalesque.com/SWF_Briefing/?p=15042 http://www.opalesque.com/SWF_Briefing/?p=15042#comments Wed, 09 Apr 2014 00:45:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15042 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15042>Article Link</a> The Libyan Investment Authority (LIA), Libya’s sovereign wealth fund, presented its 2013 annual report to the Audit Bureau last week, the Audit Bureau reports.The presentation was attended by, amongst others, the Audit Bureau head Khalid Shakshak, GNC LIA Committee member Asia Megherbi, Central Bank of Libya Governor Sadik El-Kabir, LIA head Abdulmajid Briesh, as well as representatives of the NOC, the Libyan Foreign Bank and the Administrative Control Authority. (more…)

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Angola’s sovereign wealth fund appoints audit board http://www.opalesque.com/SWF_Briefing/?p=15041 http://www.opalesque.com/SWF_Briefing/?p=15041#comments Wed, 09 Apr 2014 00:45:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15041 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15041>Article Link</a> Angola’s sovereign wealth fund, the Fundo Soberano de Angola (FSDEA), now has its first audit board that will guarantee the “highest level” of openness in its operations, it emerged on Tuesday. (more…)

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1MDB yet to notify SSM of meeting date http://www.opalesque.com/SWF_Briefing/?p=15040 http://www.opalesque.com/SWF_Briefing/?p=15040#comments Wed, 09 Apr 2014 00:45:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15040 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15040>Article Link</a> Companies Commission of Malaysia (SSM) is monitoring 1Malaysia Development Bhd (1MDB) which is yet to notify and update the former on the status of its AGM to table its overdue accounts, as at press time. (more…)

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Norway hands SWF ethical investment responsibilities to central bank http://www.opalesque.com/SWF_Briefing/?p=15038 http://www.opalesque.com/SWF_Briefing/?p=15038#comments Wed, 09 Apr 2014 00:44:39 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15038 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15038>Article Link</a> The Norwegian finance ministry has adopted a report recommending changes to the way the country’s sovereign wealth fund – the Government Pension Fund Global (GPFG) – is run, including giving more power over its ethical investment policy to the fund managers at the Norwegian central bank. (more…)

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Dubai sovereign wealth fund takes effective control of Kerzner International Hotels http://www.opalesque.com/SWF_Briefing/?p=15020 http://www.opalesque.com/SWF_Briefing/?p=15020#comments Mon, 07 Apr 2014 01:55:57 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15020 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15020>Article Link</a> The Investment Corp. of Dubai (ICD), which is the Sovereign Wealth Fund of the Emirate of Dubai, today announced it has taken over leadership and control of luxury hotel chain Kerzner International Holdings Limited (KIHL). (more…)

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Dubai World hires Blackstone to look at debt options http://www.opalesque.com/SWF_Briefing/?p=15018 http://www.opalesque.com/SWF_Briefing/?p=15018#comments Fri, 04 Apr 2014 03:35:04 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15018 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15018>Article Link</a> Conglomerate Dubai World has hired New York-based investment and advisory firm Blackstone Group LP to take a fresh look at its debt and how to make repayments to creditors, sources aware of the matter told Reuters. (more…)

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A check list for getting hired into a sovereign wealth fund http://www.opalesque.com/SWF_Briefing/?p=15012 http://www.opalesque.com/SWF_Briefing/?p=15012#comments Fri, 04 Apr 2014 03:33:16 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15012 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15012>Article Link</a> Sovereign wealth funds are changing their recruitment strategies. Gone are the days of big recruitment sprees, with funds in the Middle East in particular blinded by brand names and experience in Western markets. (more…)

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Trinidad and Tobago appoints new sovereign wealth fund chairman http://www.opalesque.com/SWF_Briefing/?p=14987 http://www.opalesque.com/SWF_Briefing/?p=14987#comments Fri, 28 Mar 2014 05:00:23 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14987 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14987>Article Link</a> Minister of Finance and the Economy Larry Howai (left) presents Dr Ralph Henry (right), newly appointed Chairman of the Heritage and Stabilization Fund with his instrument of appointment. Dr Ralph Henry has been appointed as the new Chairman of the Heritage and Stabilization Fund (Trinidad and Tobago’s sovereign wealth fund), a release from the Ministry of Finance and the Economy said. (more…)

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Saskatchewan Premier Brad Wall says there’s no decision on when to launch Futures Fund http://www.opalesque.com/SWF_Briefing/?p=14963 http://www.opalesque.com/SWF_Briefing/?p=14963#comments Mon, 24 Mar 2014 02:50:41 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14963 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14963>Article Link</a> Premier Brad Wall says he hasn’t decided whether his administration will begin directing resources to a new sovereign wealth fund before the provincial government has paid off its sizable debt. “You’re going to see legislation from this government very soon to establish that futures fund,” Wall told reporters at the legislature on Thursday. (more…)

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Broten, Wall battle over futures fund http://www.opalesque.com/SWF_Briefing/?p=14962 http://www.opalesque.com/SWF_Briefing/?p=14962#comments Mon, 24 Mar 2014 02:50:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14962 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14962>Article Link</a> Opposition Leader Cam Broten says he wanted to see a stronger commitment to a sovereign-wealth fund in the provincial budget. “Right now, the premier’s sort of trying to have it both ways,” Broten told reporters in Regina after the issue was raised in question period Wednesday. “It’s a rather ambiguous position.” (more…)

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Temasek offer a sector re-rating event: Barclays http://www.opalesque.com/SWF_Briefing/?p=14931 http://www.opalesque.com/SWF_Briefing/?p=14931#comments Wed, 19 Mar 2014 03:19:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14931 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14931>Article Link</a> Singapore investment company Temasek Holdings’ offer for Olam International could be a sector re-rating event, reflecting the potential for major shareholder groups to step in if soft commodity groups remain undervalued, said Barclays. This is especially since equity markets are too concerned with quarterly earnings numbers - often affected by volatile commodity markets - while strategic shareholders can take a long-term view on the key drivers of the business. (more…)

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Norway examines $850 bln wealth fund’s return measures http://www.opalesque.com/SWF_Briefing/?p=14927 http://www.opalesque.com/SWF_Briefing/?p=14927#comments Wed, 19 Mar 2014 03:18:42 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14927 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14927>Article Link</a> Norway is examining new ways to calculate returns generated by the world’s biggest sovereign wealth fund in a move that could affect how much oil revenue the government uses in its budgets. (more…)

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Norway lacks expertise to oversee wealth fund, Re-Define says http://www.opalesque.com/SWF_Briefing/?p=14914 http://www.opalesque.com/SWF_Briefing/?p=14914#comments Mon, 17 Mar 2014 04:17:06 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14914 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14914>Article Link</a> Norway’s parliament should create an independent committee of financial experts to hold the fund and the Finance Ministry, which oversees it, accountable, Sony Kapoor, director of Re-Define, said. (more…)

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SOFAZ budget for 2014 to be revised http://www.opalesque.com/SWF_Briefing/?p=14904 http://www.opalesque.com/SWF_Briefing/?p=14904#comments Fri, 14 Mar 2014 03:36:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14904 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14904>Article Link</a> The 2014 budget of the State Oil Fund of Azerbaijan (SOFAZ) will be revised, due to the formation of a closed joint stock company for effective management of the Shah Deniz projects and gas deliveries to Europe, SOFAZ CEO, Shahmar Movsumov told journalists on March 12. (more…)

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CIO of Singapore’s GIC sees added scope for opportunistic investments, alternatives http://www.opalesque.com/SWF_Briefing/?p=14896 http://www.opalesque.com/SWF_Briefing/?p=14896#comments Thu, 13 Mar 2014 00:53:15 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14896 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14896>Article Link</a> The chief investment officer of Singapore sovereign wealth fund GIC Private Limited suggested Wednesday that the current low-yield outlook for traditional bond and equity investments has left the GIC taking a more tactical, opportunistic approach in managing its portfolio, and open to extending more mandates to alternative asset managers. (more…)

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GIC will maintain price discipline in its investing decisions http://www.opalesque.com/SWF_Briefing/?p=14894 http://www.opalesque.com/SWF_Briefing/?p=14894#comments Thu, 13 Mar 2014 00:52:41 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14894 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14894>Article Link</a> GIC will maintain price discipline in its investing decisions, said the sovereign wealth fund’s chief investment officer Mr Lim Chow Kiat, at the annual conference of the Investment Management Association of Singapore on Wednesday afternoon. (more…)

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Russian finance ministry to wait before resuming fx buys http://www.opalesque.com/SWF_Briefing/?p=14892 http://www.opalesque.com/SWF_Briefing/?p=14892#comments Thu, 13 Mar 2014 00:52:03 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14892 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14892>Article Link</a> Russia’s finance ministry said on Wednesday it will wait for at least another two weeks before resuming daily foreign currency purchases to transfer excess revenues to one of its sovereign wealth funds, partly because the rouble is too weak. (more…)

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Amendments planned in 2014 budget of Azerbaijan State Oil Fund http://www.opalesque.com/SWF_Briefing/?p=14888 http://www.opalesque.com/SWF_Briefing/?p=14888#comments Thu, 13 Mar 2014 00:50:57 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14888 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14888>Article Link</a> An appeal has been made to the Supervisory Board to make amendments in 2014 budget of Azerbaijan State Oil Fund, Executive Director of the State Oil Fund Shahmar Movsumov told journalists, APA-Economics reports. (more…)

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OIDB could be turned into financial institution http://www.opalesque.com/SWF_Briefing/?p=14878 http://www.opalesque.com/SWF_Briefing/?p=14878#comments Wed, 12 Mar 2014 01:08:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14878 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14878>Article Link</a> With no strategic pool of funds available for the oil sector, the Ministry of Petroleum and Natural Gas has proposed turning the Oil Industry Development Board (OIDB) into a financial institution for the petroleum sector similar to Power Finance Corporation for power sector. To provide funds for OIDB, it has also asked for a share in the oil cess. (more…)

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Norway’s PM Solberg cautious on wealth fund spending in 2015 budget http://www.opalesque.com/SWF_Briefing/?p=14872 http://www.opalesque.com/SWF_Briefing/?p=14872#comments Tue, 11 Mar 2014 02:19:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14872 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14872>Article Link</a> Norway should not dig too deeply into its $850-billion sovereign wealth fund in the coming budget because this could overheat the economy and erode recent competitiveness gains, Prime Minister Erna Solberg told Reuters on Monday. (more…)

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Ireland: Reinventing a national pension scheme http://www.opalesque.com/SWF_Briefing/?p=14869 http://www.opalesque.com/SWF_Briefing/?p=14869#comments Tue, 11 Mar 2014 02:19:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14869 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14869>Article Link</a> It has been used to bail out the banking system and will soon change its name as part of a reorientation to support Ireland’s domestic economy with private equity and direct investments. (more…)

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Sovereign Wealth Fund, an administrative terrorism http://www.opalesque.com/SWF_Briefing/?p=14846 http://www.opalesque.com/SWF_Briefing/?p=14846#comments Fri, 07 Mar 2014 03:19:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14846 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14846>Article Link</a> Ekiti State House of Assembly, the other day, trivialized an otherwise very serious constitutional issue by calling on the National Assembly to immediately commence impeachment proceedings against President Goodluck Jonathan. The impeachable offence cited? Compulsory deduction, at source, from the revenue allocation due to the states as contribution to an unconstitutional Sovereign Wealth Fund. (more…)

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Norway changes fund managers and completes ABS exit http://www.opalesque.com/SWF_Briefing/?p=14810 http://www.opalesque.com/SWF_Briefing/?p=14810#comments Mon, 03 Mar 2014 04:17:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14810 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14810>Article Link</a> The $838 billion Norwegian Government Pension Fund parted ways with nine of its external fund managers last year, while taking on its first new external fixed-income managers since 2011 after a tough year in the asset class. (more…)

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Norway sovereign fund too big for central bank, report says http://www.opalesque.com/SWF_Briefing/?p=14785 http://www.opalesque.com/SWF_Briefing/?p=14785#comments Wed, 26 Feb 2014 02:48:13 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14785 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14785>Article Link</a> Norway may need to separate its sovereign wealth fund from the central bank as its ballooning size makes proper oversight more difficult, the annual Norges Bank Watch report said. (more…)

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Norges Bank review calls on MPC to relinquish control of wealth fund http://www.opalesque.com/SWF_Briefing/?p=14784 http://www.opalesque.com/SWF_Briefing/?p=14784#comments Wed, 26 Feb 2014 02:48:00 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14784 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14784>Article Link</a> A separate board should be appointed to supervise Norway’s state oil fund – the world’s largest sovereign wealth fund, which is housed within the central bank and currently overseen by the monetary policy committee – according to an independent report funded partly by Norway’s finance ministry. (more…)

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Azerbaijan creates company on Shah Deniz projects’ management and gas delivery to Europe http://www.opalesque.com/SWF_Briefing/?p=14781 http://www.opalesque.com/SWF_Briefing/?p=14781#comments Wed, 26 Feb 2014 02:47:24 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14781 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14781>Article Link</a> Azerbaijani President Ilham Aliyev has signed a decree on Feb. 25 establishing a closed joint-stock company (CJSC) for effective management of projects within the second phase of Shah Deniz gas and condensate field’s development, expansion of the South Caucasus Pipeline, Trans-Anatolian Gas Pipeline (TANAP) and Trans Adriatic Pipeline (TAP). (more…)

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Norway SWF to double equities team http://www.opalesque.com/SWF_Briefing/?p=14771 http://www.opalesque.com/SWF_Briefing/?p=14771#comments Tue, 25 Feb 2014 03:28:57 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14771 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14771>Article Link</a> Norway’s Government Pension Fund-Global has revealed plans to double its equities investment team to almost 200 people. The $840 billion fund is already the world’s largest equities investor, and has told the Financial Times that it plans to increase its staffing capability to eke out better returns. (more…)

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1MDB should be more transparent in corporate reporting, says anti-graft body http://www.opalesque.com/SWF_Briefing/?p=14766 http://www.opalesque.com/SWF_Briefing/?p=14766#comments Mon, 24 Feb 2014 04:14:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14766 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14766>Article Link</a> 1Malaysia Development Bhd’s failure to file its audited accounts for the financial year ending March 2013 with the regulators raises questions over its commitment to transparency in corporate reporting, Transparency International Malaysia (TI-M) said today. (more…)

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1MDB replaces auditors, gets time extension to submit accounts http://www.opalesque.com/SWF_Briefing/?p=14761 http://www.opalesque.com/SWF_Briefing/?p=14761#comments Fri, 21 Feb 2014 03:35:13 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14761 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14761>Article Link</a> Government-backed 1Malaysia Development Bhd (1MDB) has confirmed that it has changed its auditors and that it has gotten a six-month extension from the authorities to file its accounts for the financial year ended March 31, 2013 (FY13). (more…)

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GIC head explains the ’smart way’ to comply http://www.opalesque.com/SWF_Briefing/?p=14751 http://www.opalesque.com/SWF_Briefing/?p=14751#comments Thu, 20 Feb 2014 03:28:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14751 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14751>Article Link</a> Keeping up with increasing compliance is of great concern to companies, and Singapore’s top sovereign wealth fund GIC Pte Ltd (formerly known as Government of Singapore Investment Corporation) is facing a similar challenge. But companies have to be careful not to let onerous rules hold them back, GIC group president Lim Siong Guan said at a plenary discussion yesterday. (more…)

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Li Keping succeeds Gao at China wealth fund http://www.opalesque.com/SWF_Briefing/?p=14733 http://www.opalesque.com/SWF_Briefing/?p=14733#comments Mon, 17 Feb 2014 03:32:12 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14733 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14733>Article Link</a> Sovereign wealth fund, China Investment Group, announced it had appointed chief investment officer Li Keping as vice chairman and president. CIC, headed by chairman Ding Xuedong, had more than US$500 billion in assets under management at the end of 2102. (more…)

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Libyan Investment Authority personnel changes http://www.opalesque.com/SWF_Briefing/?p=14714 http://www.opalesque.com/SWF_Briefing/?p=14714#comments Fri, 14 Feb 2014 03:13:54 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14714 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14714>Article Link</a> Libya’s sovereign wealth fund, the Libyan Investment Authority (LIA) is undergoing a major restructure of senior management personnel. The LIA is now advertising for a new Chief Executive Officer, as well as looking for a new Head of Treasury and Budget Stabilisation Fund and a Senior Advisor for Finance and Control. New heads of departments for human resources and communications and PR are also being sought. (more…)

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Nigeria: New sovereign wealth fund starts hiring http://www.opalesque.com/SWF_Briefing/?p=14671 http://www.opalesque.com/SWF_Briefing/?p=14671#comments Wed, 05 Feb 2014 03:33:13 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14671 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14671>Article Link</a> The Nigerian Sovereign Investment Authority (NSIA), the country’s $1bn SWF that started investing in June last year, is hiring. After setting up the executive team last year, the fund is starting to recruit lower down the career ladder. (more…)

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Costello confirmed as Future Fund boss http://www.opalesque.com/SWF_Briefing/?p=14665 http://www.opalesque.com/SWF_Briefing/?p=14665#comments Tue, 04 Feb 2014 03:50:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14665 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14665>Article Link</a> Former federal Liberal treasurer Peter Costello has been appointed head of the Future Fund. Mr Costello, who was treasurer for more than 11 years in the Howard government (1996-2007), has been acting chairman of the fund since January 11 following the resignation of David Gonski to become chairman of ANZ Bank. (more…)

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Future Fund quiet on leadership changes http://www.opalesque.com/SWF_Briefing/?p=14656 http://www.opalesque.com/SWF_Briefing/?p=14656#comments Mon, 03 Feb 2014 03:51:14 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14656 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14656>Article Link</a> Future Fund managing director Mark Burgess has remained tight-lipped on whether he believes former treasurer Peter Costello will be appointed the fund’s chair, following speculation last week that he was the strong favourite for the role. But while the decision is in the hands of the federal government, Burgess said that if Costello were to become chair, he “would be surprised if there would be much change” at the $96.5 billion sovereign wealth fund. (more…)

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SOFAZ assets positively affect creditworthiness of Azerbaijan - Standard & Poor’s http://www.opalesque.com/SWF_Briefing/?p=14647 http://www.opalesque.com/SWF_Briefing/?p=14647#comments Mon, 03 Feb 2014 03:48:51 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14647 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14647>Article Link</a> A significant amount of liquid assets of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) is a positive factor for the country’s creditworthiness, says the report of financial services company Standard & Poor’s. (more…)

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Costello set to chair Future Fund: report http://www.opalesque.com/SWF_Briefing/?p=14631 http://www.opalesque.com/SWF_Briefing/?p=14631#comments Thu, 30 Jan 2014 03:38:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14631 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14631>Article Link</a> Federal Cabinet is set to confirm former treasurer Peter Costello’s appointment as chairman of the Future Fund, The Australian Financial Review reports. According to the newspaper, outgoing chairman David Gonski has recommended Mr Costello, who has been acting in the role, as his replacement. (more…)

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Moody’s affirms Kuwait Investment Company’s Baa3 issuer ratings; outlook stable http://www.opalesque.com/SWF_Briefing/?p=14605 http://www.opalesque.com/SWF_Briefing/?p=14605#comments Mon, 27 Jan 2014 03:38:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14605 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14605>Article Link</a> Moody’s Investors Service has today affirmed the Baa3 issuer ratings of Kuwait Investment Company S.A.K. (KIC). At the same time, Moody’s noted that the company’s baseline credit assessment (BCA) of b3 has remained unchanged. The outlook on the ratings is stable. (more…)

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Hong Kong’s wealth fund is doing a lousy job investing our money http://www.opalesque.com/SWF_Briefing/?p=14600 http://www.opalesque.com/SWF_Briefing/?p=14600#comments Fri, 24 Jan 2014 00:41:51 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14600 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14600>Article Link</a> You may not know about it, but Hong Kong has a sovereign wealth fund.It’s called the Exchange Fund. It manages assets of HK$3 trillion, and its investment performance is abysmal. The Hong Kong Monetary Authority announced the Exchange Fund’s results for 2013. It managed a return of just 2.7 per cent. (more…)

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Will China Investment Corp. presidency change affect bias to alternatives? http://www.opalesque.com/SWF_Briefing/?p=14599 http://www.opalesque.com/SWF_Briefing/?p=14599#comments Fri, 24 Jan 2014 00:41:36 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14599 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14599>Article Link</a> As Gao Xiqing, the president of China Investment Corp., steps down, those who work in alternative investments are waiting to see if there will be any changes in strategy at the world’s fourth largest sovereign wealth fund, which in the last few years has favored such investments. (more…)

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Change at CIC: As you were http://www.opalesque.com/SWF_Briefing/?p=14585 http://www.opalesque.com/SWF_Briefing/?p=14585#comments Thu, 23 Jan 2014 04:57:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14585 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14585>Article Link</a> The retirement of Gao Xiqing as president of the China Investment Corporation, China’s sovereign wealth fund, has fund managers wondering what the change of leadership will mean for asset allocation and the fund’s use of external managers. (more…)

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Reported CIC reshuffle raises questions http://www.opalesque.com/SWF_Briefing/?p=14573 http://www.opalesque.com/SWF_Briefing/?p=14573#comments Wed, 22 Jan 2014 01:22:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14573 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14573>Article Link</a> A fresh reshuffle is reportedly underway at China’s s sovereign wealth fund CIC, with general manager Gao Xiqing retiring and chief investment officer Li Keping succeeding him, according to media. At 60, Gao’s retirement would not be a surprise, but his exit could raise questions over possible changes in CIC’s investment direction and reliance on external managers, notes Shanghai-based consultancy Z-Ben Advisors. (more…)

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Malaysia’s Khazanah takes cautious stance on investment to guard record assets http://www.opalesque.com/SWF_Briefing/?p=14564 http://www.opalesque.com/SWF_Briefing/?p=14564#comments Tue, 21 Jan 2014 01:24:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14564 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14564>Article Link</a> Malaysian state investor Khazanah Nasional Bhd said political change in key emerging markets means it will have to approach investment more cautiously than last year, when its portfolio of assets reached a record US$40.6 billion (RM134.9 billion). (more…)

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Nigeria plans to boost capital of sovereign wealth fund http://www.opalesque.com/SWF_Briefing/?p=14559 http://www.opalesque.com/SWF_Briefing/?p=14559#comments Tue, 21 Jan 2014 01:22:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14559 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14559>Article Link</a> Nigerian Finance Minister Ngozi Okonjo-Iweala said the federal government wants to increase the capital of its $1 billion sovereign wealth fund this year even as state governors protest allocations before 2015 elections. (more…)

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Qatar Holding deal maker Fakhroo leaves for govt-linked role -sources http://www.opalesque.com/SWF_Briefing/?p=14545 http://www.opalesque.com/SWF_Briefing/?p=14545#comments Fri, 17 Jan 2014 01:13:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14545 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14545>Article Link</a> A key mergers and acquisitions executive at Qatar Holding, instrumental in some of the fund’s most high-profile deals in recent years, has left the firm for a government-related role, banking and industry sources said. Qatar Holding is the direct investment arm of Qatar Investment Authority (QIA). (more…)

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Kazakh government approves new board of directors of sovereign wealth fund http://www.opalesque.com/SWF_Briefing/?p=14515 http://www.opalesque.com/SWF_Briefing/?p=14515#comments Mon, 13 Jan 2014 02:22:52 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14515 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14515>Article Link</a> The Kazakh Government approved the new staff of the Board of Directors of Sovereign Wealth Fund Samruk -Kazyna, the fund reported on Jan. 10. The new Board of Directors is chaired by Kazakh Prime Minister Serik Akhmetov, according to the governmental resolution. (more…)

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The Norwegian miracle : A model for visionary leadership http://www.opalesque.com/SWF_Briefing/?p=14509 http://www.opalesque.com/SWF_Briefing/?p=14509#comments Mon, 13 Jan 2014 02:20:07 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14509 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14509>Article Link</a> Everyone in Norway became a theoretical millionaire on Wednesday in a milestone event for one of the world’s biggest sovereign wealth funds that has ballooned thanks to high oil and gas prices. (more…)

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KIC launches CIO search after Lee quits http://www.opalesque.com/SWF_Briefing/?p=14496 http://www.opalesque.com/SWF_Briefing/?p=14496#comments Thu, 09 Jan 2014 01:00:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14496 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14496>Article Link</a> Korean sovereign wealth fund KIC is searching for a new CIO after incumbent Lee Dong-ik quit. It is the second high-profile resignation at the institution within the past few months.Lee had been nominated to a three-year term as chief investment officer back in 2012. His term was due to expire in April 2015. (more…)

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The Alaska Permanent Fund: A marvel that needs the public’s constant monitoring http://www.opalesque.com/SWF_Briefing/?p=14477 http://www.opalesque.com/SWF_Briefing/?p=14477#comments Fri, 03 Jan 2014 03:19:14 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14477 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14477>Article Link</a> It’s filing time again. Not for federal income taxes, but for your annual Alaska Permanent Fund dividend. The filing period opened Wednesday and closes March 31. The good news for qualifying Alaskans is that the dividend amount might increase when it hits bank accounts this fall. The director of the Permanent Fund Dividend Division said recently that this year’s payout could return to the range of “four figures,” as he put it. (more…)

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NZ SWF chief Mackenzie: how I’m tackling riskier assets http://www.opalesque.com/SWF_Briefing/?p=14472 http://www.opalesque.com/SWF_Briefing/?p=14472#comments Thu, 02 Jan 2014 02:46:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14472 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14472>Article Link</a> When you think or New Zealand its formidable rugby team is likely to your first association and its role in the financial world probably won’t register at all. So there must surely be some unique challenges when it comes to running a US$20 billion sovereign wealth fund from ‘the bottom of the world’. (more…)

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Director: Alaskans likely to get bigger dividends in 2014 http://www.opalesque.com/SWF_Briefing/?p=14468 http://www.opalesque.com/SWF_Briefing/?p=14468#comments Thu, 02 Jan 2014 02:45:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14468 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14468>Article Link</a> Alaskans could see a greater share of the state’s oil wealth when dividends are distributed this year. Permanent Fund Dividend Division director, Dan DeBartolo, tells the Anchorage Daily News that after several years of declining dividends, 2014’s payment “will likely go into the four-figure territory once again.” (more…)

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Norway’s oil fund faces key strategy decisions http://www.opalesque.com/SWF_Briefing/?p=14467 http://www.opalesque.com/SWF_Briefing/?p=14467#comments Mon, 30 Dec 2013 03:49:23 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14467 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14467>Article Link</a> Norway’s $815bn oil fund faces a crucial year with several big decisions expected on its strategy as a debate rages over whether the world’s largest sovereign wealth fund has become too big. (more…)

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Kazkommertsbank, businessman may get control of Kazakh BTA Bank http://www.opalesque.com/SWF_Briefing/?p=14463 http://www.opalesque.com/SWF_Briefing/?p=14463#comments Mon, 30 Dec 2013 03:48:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14463 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14463>Article Link</a> Kazkommertsbank and Kazakh businessman Kenes Rakishev may buy equal stakes in BTA Bank, acquiring control over Kazakhstan’s third-largest lender, Kazakh sovereign wealth fund Samruk-Kazyna said on Monday. (more…)

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Former treasurer Peter Costello to head Future Fund http://www.opalesque.com/SWF_Briefing/?p=14447 http://www.opalesque.com/SWF_Briefing/?p=14447#comments Thu, 19 Dec 2013 00:58:33 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14447 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14447>Article Link</a> The Abbott government is likely to appoint Peter Costello as the permanent chairman of the Future Fund early in the new year. Costello, who was Australia’s longest serving treasurer and established the $90 billion sovereign wealth fund in 2006, was appointed acting chairman of the fund on Wednesday following the departure of David Gonski. The position was described as temporary, but it is understood that is not the intention. (more…)

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CIC may move North American headquarters to New York from Toronto http://www.opalesque.com/SWF_Briefing/?p=14438 http://www.opalesque.com/SWF_Briefing/?p=14438#comments Wed, 18 Dec 2013 00:56:36 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14438 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14438>Article Link</a> China’s giant sovereign-wealth fund is considering moving its North American base to New York from Toronto, according to people with direct knowledge of the matter, in a potential shift that reflects growing interest at the fund in a recovering U.S. economy and doubts over its faltering investments in the Canadian energy and resources sector. (more…)

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Temasek a ‘one-of-a-kind sovereign wealth fund’, says its chairman http://www.opalesque.com/SWF_Briefing/?p=14389 http://www.opalesque.com/SWF_Briefing/?p=14389#comments Mon, 09 Dec 2013 03:19:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14389 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14389>Article Link</a> Temasek Holdings is usually lumped together with other sovereign wealth funds, yet it is a unique body that shares few characteristics with these organisations, said chairman Lim Boon Heng Thursday. (more…)

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Government does not direct Temasek’s investment decisions: Temasek chairman http://www.opalesque.com/SWF_Briefing/?p=14371 http://www.opalesque.com/SWF_Briefing/?p=14371#comments Thu, 05 Dec 2013 03:31:00 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14371 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14371>Article Link</a> It is commonly believed that sovereign wealth funds often invest on behalf of governments for strategic reasons and as an instrument of foreign policy, but Temasek Holdings does not share the characteristics of most sovereign wealth funds, said its chairman Lim Boon Heng. (more…)

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Brazil won’t use wealth fund to meet budget surplus target — Official http://www.opalesque.com/SWF_Briefing/?p=14370 http://www.opalesque.com/SWF_Briefing/?p=14370#comments Thu, 05 Dec 2013 03:30:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14370 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14370>Article Link</a> Brazil’s government won’t resort to tapping its sovereign-wealth fund to cover for any possible shortfalls in meeting its budget surplus target this year, Treasury Secretary Arno Augustin said Wednesday. (more…)

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Nigeria: SWF - Govs vow to expose FG over Excess Crude Funds’ depletion http://www.opalesque.com/SWF_Briefing/?p=14361 http://www.opalesque.com/SWF_Briefing/?p=14361#comments Wed, 04 Dec 2013 03:23:34 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=14361 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=14361>Article Link</a> Governors of the 36 states of the federation, vowed to expose how the Federal Government had continued to deplete funds accruing from the proceeds of crude oil sales, petroleum profit tax and oil royalties, otherwise classified as excess crude proceeds. (more…)

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