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Sovereign Wealth Funds Briefing 15.Dec 2008

Posted on 15 December 2008 by VRS |  Email |Print

From Arabianbusiness.com: Sovereign wealth funds (SWFs) will own up to 20 percent of global real estate by 2015, new data from property adviser CB Richard Ellis (CBRE) showed on Sunday.

SWFs, the billion dollar state-backed investment vehicles which have bought major stakes in everything from investment banks to UK commercial property in the past few years, will increase their exposure to real estate from 4 to 7 percent over the next seven years, CBRE said….. Full Article: Source

Posted on 15 December 2008 by VRS |  Email |Print

From Telegraph: Western institutions should abandon all hope of Asia’s wealthy sovereign wealth funds coming to their rescue any time soon, the head of Standard Chartered’s Asian operations has warned.

China Development Bank and Temasek, the Singaporean state investment fund, have lost around £2bn between them after two capital injections into Barclays…. Full Article: Source

Posted on 15 December 2008 by VRS |  Email |Print

From FT: Norway is poised to dip more deeply into its $332bn (€248bn, £222bn) sovereign wealth fund to finance a new fiscal spending package.

The oil-rich Norwegians will use the fund, the world’s second largest after Abu Dhabi, to offset a rapid slowdown in economic growth next year….. Full Article: Source

Posted on 15 December 2008 by VRS |  Email |Print

From Daralhayat.com: In the midst of the crisis, Washington is eyeing China’s Sovereign Wealth Fund, in which money has been accumulating due to the Asian giant’s trade surplus with most countries in the world, and most prominently with the US itself.

In fact, the US has preferred to fall into trade deficit to satisfy the wishes of its highly influential companies of moving their operations to China, not to meet the requirements of its national interest….. Full Article: Source

Posted on 15 December 2008 by VRS |  Email |Print

From FT: Pension funds and sovereign wealth funds are starting to invest large amounts in convertible bonds after forced selling by hedge funds pushed prices to all-time lows.

A wave of fund launches focused on the troubled convertible bond market has been accompanied by plans by large European pension funds and middle eastern sovereign wealth funds to invest heavily – with one planning to put $1bn into the market….. Full Article: Source

Posted on 15 December 2008 by VRS |  Email |Print

From Straitstimes.com: The deputy prime minister Datuk Seri Najib Tun Razak said on Saturday the government has agreed in principle to the proposal by the Terengganu government to set up the Terengganu Investment Authority (TIA), sovereign wealth fund, with an initial fund of RM10 billion (S$4.17 billion).

He said the cabinet gave the nod for the proposal at its meeting on Friday, reflecting a strong relation between the federal and state government. ‘In principle, the proposal has been approved by the cabinet,’ he said….. Full Article: Source

Posted on 15 December 2008 by VRS |  Email |Print

From Taipeitimes.com: China Investment Corp, the nation’s US$200 billion sovereign wealth fund, paid US$5 billion last year for 9.9 percent of Morgan Stanley and invested US$3 billion in Blackstone, the world’s largest private-equity firm. Both New York-based companies have lost more than two-thirds of their market value since the investments were made.

China Development Bank, which funds the nation’s public works, spent 2.2 billion euros (US$2.9 billion) for 3.1 percent of Barclays Plc in July of last year and bought another GBP136 million (US$203 million) of stock in June….. Full Article: Source

Posted on 15 December 2008 by VRS |  Email |Print

From Financialexpress.com: During the last few years, Chinese and Asian SWFs have been acquiring significant financial assets in industrialised economies. Build-up of the financial crisis saw American and European financial institutions eyeing these SWFs as major sources of funds.

Chinese SWFs saw this as a significant opportunity for diversifying portfolios in the US and Euro markets….. Full Article: Source

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