Singapore sovereign wealth fund Government of Singapore Investment Corp’s (GIC) has appointed Lim Chow Kiat to take on the additional post of deputy chief investment officer.
“He will assist the group chief investment officer in driving group investment policies and strategies,” a GIC spokeswoman said in an e-mailed statement………………………………………..Full Article: Source

The Korea Investment Corporation (KIC) has appointed Dong-ik (Don) Lee as its new chief investment officer, the fund’s former CIO Scott Kalb told aiCIO.
The replacement, effective today, has assumed a three-year term and the appointment marks the first time the sovereign wealth fund has appointed a Korean national CIO. The fund searched locally and globally for Kalb’s replacement for the last several months, reportedly considering nearly 30 applicants………………………………………..Full Article: Source

Korea Investment Corporation (KIC), Korea’s sovereign fund, announced the appointment of Don Lee Dong-Ik as its new chief investment officer, succeeding Scott Kalb. Lee has been with KIC since 2008 as managing director and head of its private-market group.
The appointment took effect on Monday (April 2) and is a three-year term. Kalb, who has completed a three-year term, is expected to remain with KIC in an advisory capacity until June………………………………………..Full Article: Source

South Korea’s foreign exchange reserves soared to a fresh high in March as the strength of the euro and other currencies boosted the conversion value of those assets, the central bank said Tuesday.
The country’s foreign reserves reached a record high of US$315.95 billion at the end of last month, up $150 million from February, according to the Bank of Korea (BOK)………………………………………..Full Article: Source

Singapore’s DBS Group Holdings Ltd. is kicking off the week with a Southeast Asian charge. The challenge will be to convince investors of the price tag.
On Monday, DBS said it would pay $7.24 billion for Indonesia’s PT Bank Danamon at a whopping 52% premium for a 67.4% stake held by Fullerton Financial Holdings, a wholly-owned unit of sovereign wealth fund Temasek Holdings. DBS will issue new shares to fund the acquisition………………………………………..Full Article: Source

Temasek, an investment fund controlled by the Singaporean government, owned Danamon through Asia Financial (Indonesia) Pte. Ltd., a unit of its subsidiary, Fullerton Financial Holdings Pte. Ltd.
The offer price for both majority and minority shareholders was at Rp 7,000 per Danamon share, representing a premium of 56.3 percent over its one-month average share price of Rp 4,480. That amounts to 2.6 times Danamon’s book value, which analysts considered in line with the Indonesian banking industry………………………………………..Full Article: Source

Anti-nuclear campaigners wearing gas masks and sterile outfits have staged a small protest in Melbourne to call for an end to Future Fund investment in nuclear weapons firms. Demonstrators held signs featuring the face of the Future Fund’s new chairman David Gonski as they gathered outside the organisation’s office.
The Future Fund was established in 2006 by the Howard Government to help meet the cost of future public sector superannuation liabilities………………………………………..Full Article: Source

Now that the well-connected David Gonski takes over as chairman of the $73 billion Future Fund it may be time for a fresh look at the organisation.
The controversy over the appointment of the chairman to take over from inaugural chairman and former Commonwealth Bank chief executive David Murray has overshadowed the focus on the organisation itself………………………………………..Full Article: Source

It has been a tough few years for global markets, but the Gulf’s sovereign wealth funds are still doing well, largely thanks to continued inflows of cash from oil and gas exports.
Something rare happened in the Gulf this February: the head of one of the region’s secretive sovereign wealth funds (SWFs) quit unexpectedly, allowing a brief, if opaque, view into the world of the region’s state asset managers………………………………………..Full Article: Source

The National Audit Office (NAO) held a training seminar for Bahrain Mumtalakat Holding Company and its portfolio companies to provide an insight into the NAO law and recent developments on the type of audits conducted by it.
The session formed part of Mumtalakat’s ongoing programme to ensure transparency and the best corporate governance practices across its portfolio………………………………………..Full Article: Source

Norway’s €440bn sovereign wealth fund is to increase its investments in Asia and the developing world in both equities and bonds - which could mean good news for fund managers specialising in those market.
Europe’s biggest pool of sovereign wealth will pay for increased investment in developing economies for by a reduction worth around €60bn in its allocation to European markets………………………………………..Full Article: Source

The Norwegian Sovereign Wealth Fund—Europe’s biggest equity investor with $610 billion in assets under management—is reportedly slashing European equity exposure. Interesting, right? Well, yes—for a few reasons, some of which might not jump out and bite you on the ankle.
In September 2010, Minyanville contributor Peter Atwater wrote an article, The Wrong Long about TPG’s horrific $7 billion investment in Washington Mutual (JPM) during the 2008 banking crisis………………………………………..Full Article: Source

With access to the world’s most amazing natural resources, Norwegians have built up a sovereign wealth fund worth some $120,000 per man, woman and child. They call their fund ‘The Petroleum Fund’. OK, it’s a pretty uninspiring name, but at least it’s honest.
And as it happens, the managers of the petroleum fund are on the same wavelength as us here at The Right Side. On Friday, they published details of what they’ve been up to recently. And it makes for some very interesting reading………………………………………..Full Article: Source

The Canadian government said it plans to introduce legislation to allow foreign and domestic sovereign-wealth funds to invest in Canadian financial institutions, a move which would allow banks and insurance companies to raise capital to meet new Basel banking rules.
Up until now, Canada was the only major world economy (I think) that did not allow sovereign capital investments in its financial sector. Given the Tories majority, I can only assume it will pass………………………………………..Full Article: Source