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Sovereign Wealth Funds Briefing 27.Mar 2015

Posted on 27 March 2015 by VRS |  Email |Print

Korea Investment Corp (KIC), South Korea’s sovereign wealth fund, is considering investing around 1-1.5 trillion won ($906 million-$1.36 billion) in three five-star hotels owned by Saudi Arabia-based Kingdom Holding Co, a South Korean newspaper reported on Friday.
The hotels include The Savoy in London, and KIC is considering taking about a 50 percent stake, the Chosun Ilbo reported, citing unnamed KIC and investment banking sources. A KIC spokesman declined comment………………………………………..Full Article: Source

Posted on 27 March 2015 by VRS |  Email |Print

NZX-listed Goodman Property Trust will end up owning 51% of a new building on Auckland’s waterfront,with the balance held by Singapore’s sovereign wealth fund, GIC. The site of the $86.2 million building has been cleared for earthworks and completion is expected during 2017.
It is being built by Fletcher Building and will be leased to Datacom, which has taken naming rights. Goodman’s relationship with the Singaporean fund was set up last year via a joint venture called Wynyard Precinct Holdings, with plans to build an initial $300 million portfolio………………………………………..Full Article: Source

Posted on 27 March 2015 by VRS |  Email |Print

The Singaporean Government is expanding its New Zealand property holdings, taking a further stake in Auckland via a new office block yet to be built. Listed landlord Goodman Property Trust has just announced that Fletcher Building has struck a deal to sell a new Wynyard Quarter building, 80 per cent leased to Datacom, to the Singaporeans and Goodman.
The purchaser is Wynyard Precinct Holdings - 49 per cent owned by the Singapore state’s Government Investment Corporation and 51 per cent owned by listed landlord Goodman Property Trust………………………………………..Full Article: Source

Posted on 27 March 2015 by VRS |  Email |Print

Despite generating almost $190 billion in non-renewable resource revenues since 1980, the value of the Heritage Fund stood at $17.3 billion at the end of last year. And of the $33.4 billion in income that it’s thrown off, the Heritage Fund has retained just $4.6 billion.
Norway, in contrast, has managed to save much, much more of its non-renewable resource revenues. The value of its sovereign wealth fund sits at nearly $1 trillion, or $177,000 for every Norwegian citizen. Alberta’s per-capita figure? A shade over $4,300………………………………………..Full Article: Source

Posted on 27 March 2015 by VRS |  Email |Print

The state kills a major card in the management of its revenues. With the establishment of a Sovereign Legacy Fund, Maurice joined a league of nations where there are Norway, Saudi Arabia and Singapore. The sovereign funds of these countries is to grow the surplus from the marketing of petroleum products. This money is mainly used to compensate for any drop in state revenues given the volatility of oil prices on the world market.
This type of fund is invested mainly in blue chip stocks. “A sovereign wealth fund has a diversified investment portfolio,” says Poonam Teeluck, Associate Director at Elysium Capital, an investment bank. “This type of fund is active in the treasury bonds, commodities, real estate, to name a few. Some of these funds are so massive, with assets worth one trillion dollars that they can meet the needs of the country for decades. This is Norway, which has the largest sovereign fund, worth $ 860 billion, or Rs 31,600 billions! Maurice, so well that entering in this league, is less than a grain of sand, especially as the country is rich by its people, not its basement. (Translated)……………………………………….Full Article: Source

Posted on 27 March 2015 by VRS |  Email |Print

It’s been a busy year for sovereign wealth fund executives. We’ve seen a shake-up at the top of the China Investment Corp.(CIC), the launch of an entirely new fund in Mexico, and new hires at Australia’s Future Fund and Khazanah Nasional, among others. And a momentous change of leadership at Alberta Investment Management Corp. Here’s a roundup of all the moves from the first quarter 2015.
On February 25, the People’s Bank of China (PBoC), the country’s central bank, appointed Fan Yifei, CIC’s executive vice president, deputy chief operating officer and executive committee member, as its new vice chairman; he will now divide his time between the two institutions, an unusual arrangement whose implications China experts are still trying to decipher………………………………………..Full Article: Source

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