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Sovereign Wealth Funds Briefing 20.Aug 2008

Posted on 20 August 2008 by admin |  Email |Print

The Federal Reserve Board has published a discussion paper (also available as a PDF) on SWF investment, transparency and passivity. The abstract states that, “Overall, our findings suggest that SWF investments convey a positive signal to market participants about the target firm, increased SWF transparency is enjoyed by both the SWF and existing shareholders, and SWFs are passive investors.” Full discussion paper: Source

Posted on 20 August 2008 by admin |  Email |Print

From TheNational.ae: [Abu Dhabi’s] International Petroleum Investment Company is planning a major investment in Abu Dhabi’s oil and gas infrastructure in partnership with the Abu Dhabi National Oil Company (Adnoc), a senior Ipic official said yesterday… Full article: Source

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From IHT.com: Edison Lobao, Brazil’s energy minister, has suggested the creation of a sovereign wealth fund to invest earnings from the oil that the country recently found offshore… Full article: Source

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From Marketwatch.com: Abu Dhabi Investment Council [ADIC], a $200 billion to $300 billion sovereign wealth fund established in the capital of the United Arab Emirates, will expand its investment mandate to include Japan, the United States and Europe, according to a media report [in the Nikkei newspaper] Wednesday… Full article: Source

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From CNNMoney.com: Merrill Lynch & Co. chief John Thain will have meetings with South Korea’s sovereign wealth fund [Korea Investment Corp. (KIC)] and key government officials during a visit to the country in the third week of September, Korean officials said Wednesday… Full article: Source

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From Reuters.com: Germany’s cabinet agreed on Wednesday to bring in rules to protect domestic firms from foreign buyers, notably sovereign wealth funds (SWFs), who could exert political influence, a German government official said… Full article: Source

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From NYPost.com: Lehman Brothers’ embattled Chief Executive Dick Fuld nearly struck a deal to raise almost $5 billion from South Korean wealth funds and institutions but the pact disintegrated, according to sources familiar with the matter… Full article: Source

Posted on 20 August 2008 by admin |  Email |Print

From Reuters.com: Russia is not planning to raise its exposure to debt issued by U.S. agencies Fannie Mae and Freddie Mac, but will not cut it rapidly, Russia’s deputy finance minister [Dmitry Pankin] said on Wednesday… Full article: Source

Posted on 20 August 2008 by admin |  Email |Print

From RBCnews.com: Russia’s National Wealth Fund is expected to amount to over $100bn by the end of 2008, Deputy Finance Minister Dmitry Pankin told a press conference in Moscow today... Full article: Source

Related article: From Reuters.com: Russia has filled up its Reserve Fund for this year, and further cash from high oil prices will go to its National Wealth Fund, which is earmarked for riskier investments, its deputy finance minister said on Wednesday… Full article: Source

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