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Sovereign Wealth Funds Briefing 26.Feb 2009

Posted on 26 February 2009 by VRS |  Email |Print

From GCC economy experts have demanded the intervention of Sovereign Wealth Funds (SWFs) to pull the economy out of its state of fluctuation caused by the global financial crisis, and to raise the rate of investments in the market from the current 5% to between 20-30%.

SWFs have sustained a heavy loss of USD 450 billion, a figure which could go up to USD 600 billion if investments abroad continue to depreciate….. Full Article: Source

Posted on 26 February 2009 by VRS |  Email |Print

From Despite the severity of the global economic crisis, many governments are still nervous about accepting investment by Arab Sovereign Wealth Funds (SWFs) despite their potential to provide urgently needed liquidity.

Greater transparency about their holdings and investment strategies would help SWFs to overcome these concerns and to play a role in resolving the economic crisis, concludes a new policy outlook from the Carnegie Middle East Center….. Full Article: Source

Posted on 26 February 2009 by VRS |  Email |Print

From Sovereign wealth funds (SWF) are an increasingly important class of investor in today’s uncertain economic environment, with more than $5 trillion worth of funds, according to the latest United Nations estimates. With significant capital at their disposal, SWFs are likely to continue playing a key role in mergers and acquisitions activity.

The lack of information about SWFs in the public domain has made it difficult for other market participants to fully understand the motivations of these significant funds and the people behind them. …. Full Article: Source

Posted on 26 February 2009 by VRS |  Email |Print

From Temasek Holdings, the investment arm of the Singapore government, has opened a new office in India, where around 7% of its S$185 billion ($134 billion) portfolio was invested as of March 2008.

Temasek Holdings Advisors India has expanded its operations with the launch of its Chennai office. While Temasek enjoys a strong presence in the northern and western parts of the country, the Chennai office represents a strategic geographical diversification to focus on the large south India market. Temasek set up its operations in India in 2004 with the establishment of its Mumbai office….. Full Article: Source

Posted on 26 February 2009 by VRS |  Email |Print

From CNN: Singaporean state investment company Temasek Holdings Pte. Ltd., U.K. insurer Prudential PLC and Toronto-based insurance company Manulife Financial Corp. (MFC) are expected to bid for the Asian unit of American International Group Inc. (AIG), two people familiar with the situation said Wednesday.

The three companies will submit their bids by Friday’s deadline for final offers, one of the people said….. Full Article: Source

Posted on 26 February 2009 by VRS |  Email |Print

From Public displeasure should be directed correctly, for it to be effective. The recent revelation, that Temasek Holdings has lost 31 percent of its net portfolio value between March and November 2008, is initially shocking, given its supposed reputation as a professional and long-term investor.

Temasek also seemed to have made a wrong judgement on hindsight, when it injected capital into Barclays and Merrill Lynch….. Full Article: Source

Posted on 26 February 2009 by VRS |  Email |Print

From With the stock market tumbling, Alberta’s Heritage Fund has lost 14% of its value – about $3 billion – and other rainy-day funds are down by about 16%, said the finance minister, which leaves the province is in a very different position compared to six months ago when an $8.5 billion budget surplus was projected.

The Alberta government’s plan for weathering the storm includes keeping a close eye on government spending, drawing from its emergency savings, removing internal trade barriers, investments in green technologies, the elimination of health care premiums and maintaining low, competitive taxes…. Full Article: Source

Posted on 26 February 2009 by VRS |  Email |Print

From Reuters: U.S insurer American International Group has sent senior executives to China to discuss the sale of its Hong Kong-based AIA unit, a top official with China’s insurance regulator said on Thursday.

But Chinese firms’ potential bids for the embattled U.S. insurer’s Asian life insurance unit would be solely a corporate decision, saidLi Kemu, vice chairman of the China Insurance Regulatory Commission….. Full Article: Source

Posted on 26 February 2009 by VRS |  Email |Print

From The country’s foreign exchange reserves are at a comfortable level and the economy will not be directly impacted, the Finance Ministry told Lok Sabha today.

“Since the foreign exchange reserve position continues to be at comfortable level, there is no direct impact on the economy,” Minister of State for Finance P K Bansal said in a written reply to a query in the Parliament….. Full Article: Source

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