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Sovereign Wealth Funds Briefing 09.Jun 2009

Posted on 09 June 2009 by VRS |  Email |Print

From Guardian: China’s CIC sovereign wealth fund is looking at opening an office in London, the City of London’s Lord Mayor said on Monday.
Lord Mayor Ian Luder told a press briefing in Hong Kong that he had met with China Investment Corp (CIC) officials last week during a visit to China and discussed the possible opening of a London office. He did not give any details……..Full Article: Source

Posted on 09 June 2009 by VRS |  Email |Print

From Reuters: The chairman of the Government of Singapore Investment Corp (GIC), the city-state’s biggest sovereign wealth fund, said on Monday the fund will be cautious and take few risks.

His comments came after the country’s other sovereign fund Temasek saw big losses on its investments in Western banks……..Full Article: Source

Posted on 09 June 2009 by VRS |  Email |Print

From Forbes: An investment fund run by the Abu Dhabi government is looking to boost its stake in a mortgage lender created to protect the emirate’s booming property market from the global economic crisis.

Ali Eid al-Mehairi, chairman of the mortgage provider Abu Dhabi Finance, said in an e-mail Monday that the state-run fund Mubadala Development is seeking to increase its stake to 52 percent. Al-Mehairi is also development director of Mubadala……..Full Article: Source

Posted on 09 June 2009 by VRS |  Email |Print

From IPE: The Alaska Permanent Fund Corporation has increased its targeted allocation to real estate from 10% to 13%, to help cope with the impact of the financial markets crisis on its portfolio.

Alaska Permanent Fund officials believe there are going to be new opportunities to be had, despite problems in the US financial markets and the need to re-weight its real estate portfolio……..Full Article: Source

Posted on 09 June 2009 by VRS |  Email |Print

From FT: Porsche is in advanced talks about selling a large stake to the Gulf state of Qatar that could ease the sports car maker’s financial pain and turn the tables in its feud with Volkswagen.

Wendelin Wiedeking, Porsche’s chief executive, is talking to the Qatar Investment Authority (QIA) about taking a stake of up to 25 per cent in its holding company, people familiar with the talks said……..Full Article (Subscription Required) : Source

Posted on 09 June 2009 by VRS |  Email |Print

From Financeasia.com: Charles Goodyear is slated to take over as chief executive officer of Temasek from Ho Ching on October 1.
This has prompted Nomura to review the Singapore-based investment firm’s track record and strategies under Ching, and to draw inferences from Goodyear’s background as to how he will manage the firm. Its conclusions were published in a research report last week……..Full Article: Source

Posted on 09 June 2009 by VRS |  Email |Print

From Sgblogs.com: Kudos to Temasek Holdings for scoring a perfect 10 in a recently released transparency index for sovereign wealth funds (SWFs).

Apart from scoring points for maintaining its own website, providing its office address and contact information such as telephone and fax numbers, the index by the California-based SWF Institute scored SWFs for up-to-date independently audited annual reports, providing ownership percentage of company holdings, total portfolio market value, returns, and management compensation……..Full Article: Source

Posted on 09 June 2009 by VRS |  Email |Print

From Reuters: Flush with petrodollars, Libya has been snapping up stakes in major Italian companies which it says are purely financial investments over the long-term.

Libya is also looking to set up a joint fund of as much as $500 million with Italian bank Mediobanca to invest in distressed Italian companies……..Full Article: Source

Posted on 09 June 2009 by VRS |  Email |Print

From Reuters: Volkswagen would support the Gulf state of Qatar taking a substantial voting stake in either its debt-laden parent Porsche or in VW itself, Europe’s largest carmaker said on Monday.

“In principle we view this positively since it would accelerate the process to form an integrated group with 10 brands,” a VW spokesman said……..Full Article: Source

Posted on 09 June 2009 by VRS |  Email |Print

From Semiconductor-today.com: Late last month, 3S Photonics S.A. of Nozay, France received a capital increase of €10m ($13.6m) through the purchase of new shares by France’s Strategic Investment Fund (Fonds Strategique d’Investissement, or FSI), which gains a representative on the firm’s supervisory board.

FSI was created on the initiative of President Nicolas Sarkozy in late November amid the financial crisis, endowed with €20bn, to help stabilize small-to-medium enterprise (SME) technology and defense firms that are deemed to be strategic. …….Full Article: Source

Posted on 09 June 2009 by VRS |  Email |Print

From Dow Jones: The Government Pension Fund’s board Monday resolved to dismiss Secretary-General Visit Tantisunthorn due to his failure to comply with the fund’s procedures, a Thai Ministry of Finance official said.

The Government Pension Fund is Thailand’s largest local institutional investor, with assets worth around THB400 billion ($11.76 billion) under its management……..Full Article: Source

Posted on 09 June 2009 by VRS |  Email |Print

From Bloomberg: The BRICs are buying dollars at the fastest pace since before credit markets froze in September, protecting exports even as leaders of the biggest emerging markets consider alternatives to the U.S. currency.

Brazil, Russia, India and China increased foreign reserves by more than $60 billion in May to limit currency gains as the first global recession since World War II restricted exports, data compiled by central banks and strategists show……..Full Article: Source

Posted on 09 June 2009 by VRS |  Email |Print

From Forbes: Hong Kong’s official foreign currency reserve assets stood at $205.1 billion at end-May, the Hong Kong Monetary Authority said on Monday, up 6.0 percent from $193.4 billion at the end of April.

Hong Kong, whose currency is linked to the U.S. dollar, ranks as the world’s seventh-largest holder of foreign currency reserves after mainland China, Japan, Russia, Taiwan, India and South Korea……..Full Article: Source

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