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Sovereign Wealth Funds Briefing 12.Feb 2016

Posted on 12 February 2016 by VRS |  Email |Print

The world’s biggest sovereign wealth fund says the risk of a British exit from the European Union won’t diminish its interest in the U.K. capital as a place to buy property. “A city like London - regardless of Brexit or what happens in the near term - will be a global powerhouse as a financial city for many, many years to come,” Karsten Kallevig, CEO of real estate for Norway’s $810 billion sovereign wealth fund, said.
“I don’t see what other cities can compete with London. It’s such an important city.” Kallevig joined the fund in 2010, the year Norway’s government allowed it to expand into real estate………………………………………..Full Article: Source

Posted on 12 February 2016 by VRS |  Email |Print

Norway’s biggest political party says the country’s giant wealth fund needs to rethink its proposed entry into the $20 trillion infrastructure market. “With what we’re seeing now with economic developments globally, and the short-term cost of that for Norway, it’s time to put the brakes on,” said Torstein Tvedt Solberg, a Labor Party politician who sits on the parliamentary finance committee that helps oversee the Norwegian sovereign wealth fund.
“We shouldn’t undergo structural shifts too fast” as there are “too many uncertainties with the oversight and structure of the fund.” The $810 billion investor has long lobbied for permission from the Norwegian government to add infrastructure to its mandate………………………………………..Full Article: Source

Posted on 12 February 2016 by VRS |  Email |Print

Azerbaijan’s state oil fund SOFAZ earned around 27 million pounds on real estate in London as of January 1, 2016. The real estate, located at Saint James Street in London, was purchased by SOFAZ for 177.35 million pounds in 2012, the Company reported on February 10.
“After the real estate was leased until late 2015, SOFAZ received income worth about 27 million pounds,” the statement said. “Currently, this real estate is estimated at 213 million pounds. Taking into account the high liquidity on the real estate market in London, this asset can be sold at a specified price within a short period.”……………………………………….Full Article: Source

Posted on 12 February 2016 by VRS |  Email |Print

India and the United Arab Emirates (UAE) on Thursday signed a clutch of pacts to boost their strategic and economic ties, including one on concluding a mechanism to allow UAE institutional investors to put money into India’s cash-starved infrastructure and another for rupee-dirham currency swaps.
The investment pact is aimed at attracting the UAE’s sovereign wealth funds into the infrastructure sector. The UAE controls the second largest sovereign wealth fund in the world—the Abu Dhabi Investment Authority with around $800 billion under its management………………………………………..Full Article: Source

Posted on 12 February 2016 by VRS |  Email |Print

Finance Minister Arun Jaitley has said that investors from the UAE could participate in India’s maiden sovereign wealth fund National Investment and Infrastructure Fund (NIIF), which has been set up to fund infrastructure projects, during his meeting with visiting UAE Minister of Economy Sultan Al Mansoori.
The Rs 40,000-crore NIIF will have government holding of 49 per cent and the rest will be of private investors. UAE Minister Mansoori notified that the various institutions from Gulf have already invested in sectors, like infrastructure. He reiterated that the different agencies of UAE will continue their efforts to widen their relationship with India………………………………………..Full Article: Source

Posted on 12 February 2016 by VRS |  Email |Print

The drop in oil prices in the last 12 months has taken markets and investors by surprise. State institutions such as Sovereign Wealth Funds (SWF) have been affected and state budgets have suffered. SWF will grow slowly and in many cases will see some of their assets declining in value or being liquidated to help with government budget deficits. State foreign exchange reserves will be affected as well.
There are over 77 SWFs in existence with total assets of over $7.1 trillion dollars, of which $4 trillion are oil and gas related funds. By the end of 2015 more than 56 percent of the assets of SWFs originated from the sale of oil and gas related products. These funds account for anywhere from 5-10% of total money invested in global markets………………………………………..Full Article: Source

Posted on 12 February 2016 by VRS |  Email |Print

Gabriela Santos, JPMorgan Asset Management strategist, discusses the selloff in U.S. stocks with Bloomberg’s Alix Steel, Joe Weisenthal and Scarlet Fu on “What’d You Miss?”.………………………………………Full Article: Source

Posted on 12 February 2016 by VRS |  Email |Print

Many nations have created what can be defined as a “Sovereign Wealth Fund,” which hold assets in portfolio that are supposed to benefit the entire population, and usually, future generations of the country’s citizens. The first such fund was launched in 1954 by the oil-producing nation of Kuwait. Today, the largest such “SWF” is that of Norway – officially, the Norway Government Pension Investment Fund – with “wealth” now approaching US$1 trillion in Assets Under Management.
The Fund, managed by Norges Bank, invests in literally thousands of public companies. Consider: The fund invests in 9,000 companies in 75 countries (1.3% of the world’s listed companies; 2.4% of Europe’s listed companies). The funds come from Norway’s North Sea oil royalties………………………………………..Full Article: Source

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