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Sovereign Wealth Funds Briefing 18.Jun 2009

Posted on 18 June 2009 by VRS |  Email |Print

From Chinapost.com.tw: Sovereign wealth funds (SWFs) have generated huge discussions in the international markets and can be influential, said Sean Chen, chairman of the Financial Supervisory Commission (FSC), yesterday.
Chen made the statement while delivering a speech at an SWF forum held by the Taiwan Academy of Banking and Finance and the law school of National Chung Cheng University………Full Article: Source

Posted on 18 June 2009 by VRS |  Email |Print

From Reuters: China Investment Corp (CIC), the country’s $200 billion sovereign wealth fund, said it will start a new round of global hiring to support an expansion of its operations as it seeks new overseas investments.

CIC, which currently employs about 200 people, will seek professional staff in 33 categories, including risk management, real estate, infrastructure, commodities and hedge fund investment, according to its Website. (www.china-inv.cn)……..Full Article: Source

Posted on 18 June 2009 by VRS |  Email |Print

From Bloomberg: Felix Chee, an adviser to China’s $200 billion sovereign wealth fund, said it aims to make investments in hedge funds.

“We will have a preference for managed accounts,” he said in an interview today at the GAIM International hedge fund conference at Monaco’s Grimaldi Forum. “The platform would like a core of single-manager funds and fund-of-funds.” ……..Full Article: Source

Posted on 18 June 2009 by VRS |  Email |Print

From Theaustralian.news.com.au: Having made its first offshore foray with a $US800 million ($1 billion) investment in a global property fund, China Investment Corporation has arrived in Australia.

CIC, the world’s newest and possibly the largest sovereign wealth fund, became a strategic investor in the Goodman Group this week………Full Article: Source

Posted on 18 June 2009 by VRS |  Email |Print

From Dow Jones: China Investment Corp., the country’s US$200 billion sovereign wealth fund, said Wednesday it has taken over the supervision of China Reinsurance (Group) Corp.’s management team from the insurance regulator.

The information, disclosed in a statement on CIC’s Web site Wednesday, didn’t say how China Reinsurance’s daily operations will be supervised following the change………Full Article (Subscription Required) : Source

Posted on 18 June 2009 by VRS |  Email |Print

From Business24-7.ae: Qatar’s prime minister said the country’s sovereign wealth fund realised $7 billion (Dh25.69bn) or $8bn in profits from its investments in the first quarter of 2009.

Sheikh Hamad bin Jassem Al Thani also stressed that Qatar Holding’s – main investment arm for sovereign wealth fund Qatar Investment Authority (QIA) – investment gains over the first quarter contrasted sharply with losses of more than $4bn last year………Full Article: Source

Posted on 18 June 2009 by VRS |  Email |Print

From Businessweek.com: Qatar will announce the details of the country’s sovereign wealth fund’s bid to buy into indebted German sports carmaker Porsche within two to three weeks, Qatar’s prime minister said.

Sheik Hamad Bin Jassem Al Thani refused to confirm reports that the Qatar Investment Authority is eying a 25 percent stake in Porsche Automobil Holding SE, saying that the investment fund is still in the negotiating stage about the stake………Full Article: Source

Posted on 18 June 2009 by VRS |  Email |Print

From IPE: The value of the Norwegian Government Pension Fund – Global has increased for the third consecutive month to reach NOK 2.308trn (€258.9bn).

Figures from Norges Bank’s monthly balance sheet showed it increased by around NOK 112bn in May and rose from NOK 2.196trn to NOK 2.308trn, which marks its return past the recent high of NOK 2.273trn in December 2008………Full Article (Subscription Required): Source

Posted on 18 June 2009 by VRS |  Email |Print

From Peureport: Private equity underwriters (PEU’s) and sovereign wealth funds (SWF’s) got little mention in 88 pages on President Obama’s regulatory reform. PEU’s got 3 mentions while SWF’s got zero.

Larry Summers headed the regulatory restructuring team. He ignored the advice he gave as a private citizen in regard to SWF’s………Full Article: Source

Posted on 18 June 2009 by VRS |  Email |Print

From Dow Jones: Abu Dhabi-based investment firm Mubadala Development Co., which holds a 0.62% stake in General Electric Co., may consider buying stakes in some of its other aerospace partners such as Finmeccanica SpA, European Aeronautic Defence & Space Co., and Rolls-Royce Group PLC.

“We’re always looking at equity where it makes sense,” Homaid Al Shemmari, Mubadala’s associate director of aerospace, told Dow Jones Newswires in an interview on the sidelines of the Paris Air Show in Le Bourget. “It’s not our goal or what drives us, but it depends if the right opportunity comes along. We’d look at out our partners on a case by case basis.” ……..Full Article (Subscription Required) : Source

Posted on 18 June 2009 by VRS |  Email |Print

From Stuff.co.nz: The New Zealand Superannuation Fund made a profit 3.47 per cent, or $587 million in May, the same month the Government turned off the tap of contributions for the next decade.

The Labour government had planned to put about $2 billion a year in the “Cullen fund” to build up a fund that would partly pay for pensions………Full Article: Source

Posted on 18 June 2009 by VRS |  Email |Print

From Fnbnews.com: Brunei Darussalam, the third largest oil producer in Southeast Asia, is planning to enter into the Indian hospitality industry, a senior functionary said on Sunday (June 15). S Ali, Brunei’s High Commissioner, said that they were exploring business prospects in the Indian hospitality industry.

Ali was here to attend a tourism conclave organised by the Himachal Pradesh government in association with the PHD Chamber of Commerce and Industry………Full Article: Source

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