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Sovereign Wealth Funds Briefing 19.Jun 2009

Posted on 19 June 2009 by VRS |  Email |Print

From Reuters: The South Korean government will pump an additional $3 billion into Korea Investment Corporation (KIC) to enable the sovereign wealth fund to resume overseas investment, a newspaper reported on Friday.

The Maeil Business Newspaper cited a senior KIC official as saying that the fund was considering alternative investments which would be made jointly with private equity firms and financial services companies………Full Article: Source

Posted on 19 June 2009 by VRS |  Email |Print

From Taiwanjournal.nat.gov.tw: Despite signs that the global economic crisis is on the wane, Taiwan’s top regulator is studying the feasibility of establishing a financial stabilization fund. The Organisation for Economic Co-operation and Development also came up with operating principles for countries targeted by sovereign wealth funds for investment.
“One should be ready with fire extinguishers even if there aren’t any fires,” Financial Supervisory Commission Minister Sean C. Chen said……..Full Article: Source

Posted on 19 June 2009 by VRS |  Email |Print

From Reuters: The Government of Singapore Investment Corp (GIC), which manages an estimated $200 billion-plus in assets, on Thursday named Lim Siong Guan as its group president from July 1.

Lim, a former head of Singapore’s civil service, will also be chairman of GIC Asset Management, the largest of its three operating units and responsible for investments in equities, fixed income, foreign currencies and natural resources. The unit is also responsible for the fund’s absolute returns strategies………Full Article: Source

Posted on 19 June 2009 by VRS |  Email |Print

From Straitstimes.com: Singapore investment agency Temasek Holdings may have taken a hit recently on some of its high-profile banking investments, but over the longer term it has outperformed key global benchmarks.

Figures obtained by The Straits Times show that over a 10 year period to March this year, Temasek outgunned several closely-watched equity indexes………Full Article: Source

Posted on 19 June 2009 by VRS |  Email |Print

From Kbc.co.ke: The National Social Security Fund is in the process of automating its services to enhance efficiency and improve accountability. Alex Kazongo the new managing trustee says this will decongest the provident fund.

Speaking to KBC Kazongo said the much waited NSSF amendment bill will be re-introduced in the house soon………Full Article: Source

Posted on 19 June 2009 by VRS |  Email |Print

From Timesonline.co.uk: The Qatar Investment Authority, the Gulf state sovereign wealth fund that holds a 27 per cent stake in Sainsbury’s, did not comment on whether it had taken part in the firm’s plan raising £432 million to step up its expansion drive.
It would have to have contributed about £65 million to avoid dilution………Full Article: Source

Posted on 19 June 2009 by VRS |  Email |Print

From Bayt.com: The outcome of talks for Qatar Investment Authority (QIA) to buy into Porsche are expected to be known within three weeks.
The sports car maker is now in exclusive discussions with QIA for it to buy a stake in Porsche of at least 25%………Full Article: Source

Posted on 19 June 2009 by VRS |  Email |Print

From Gulfnews.com: Middle Eastern foreign investment has accounted for the most recent flow of capital into London. The Oman Investment Fund (OIF), a subsidiary of the government of Oman, recently completed the largest real estate deal of 2009 in the UK capital, with a value of Dh2.6 billion.

Companies from the Gulf Co-operation Council (GCC) have stepped in at the 11th hour to bail out UK companies deep in debt………Full Article: Source

Posted on 19 June 2009 by VRS |  Email |Print

From Reuters: Qatari investors are interested in owning an 85 percent stake in a planned $1 billion power plant in Indonesia. The Qatar Investment Authority plans to focus more on energy and commodities, food and water in a strategic overhaul because prices for these products will pick up.

The joint venture plant to be built in Bali is one of many projects planned between Qatar and Indonesia, including investments in natural resources and infrastructure, Alwi Shihab, the President of Indonesia’s special Middle East envoy told the local daily………Full Article: Source

Posted on 19 June 2009 by VRS |  Email |Print

From FT Alphaville: China Investment Corp, the country’s biggest sovereign wealth fund, is poised to invest $500m in a Blackstone Group hedge-fund unit, reports the WSJ.

A hefty injection from China would signal that some big money is stepping off the sidelines as global markets stabilise………Full Article: Source

Posted on 19 June 2009 by VRS |  Email |Print

From Abc.az: The Central Bank (CB) of Azerbaijan running payment balance statistics reports that for the 1st quarter of 2009 country’s strategic currency reserves slumped by 13.5% against rise of 2.5-fold in 2008 and 68.9% in 2007.

For the reported period they formed from assets of State Oil Fund of Azerbaijan ($10.512 bn), currency deposits of the Finance Ministry ($375 million) and overall currency reserves of the NB ($5.159 bn)………Full Article: Source

Posted on 19 June 2009 by VRS |  Email |Print

From Iii.co.uk: Russia’s gold and foreign exchange reserves on Thursday posted their first weekly fall in six weeks, shrinking by $2.9 billion or 0.07 percent as the central bank stopped buying dollars in currency interventions.

Russia’s reserves, the world’s third largest, stood at $406.6 billion on June 12 down from $409.5 billion a week earlier, central bank data showed………Full Article: Source

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