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Sovereign Wealth Funds Briefing 22.Jun 2009

Posted on 22 June 2009 by VRS |  Email |Print

From Reuters: Angola plans to launch a sovereign fund in 2009 to invest the oil-producing nation’s wealth abroad, Finance Minister Severim de Morais said on Friday.

Plans to create the fund, known as the Fundo Soberano Angolano, were announced in November by President Jose Eduardo dos Santos, but the project has since been delayed due to the global economic downturn………Full Article: Source

Posted on 22 June 2009 by VRS |  Email |Print

From WSJ: The sovereign-wealth funds are stirring. After going quiet as markets crashed and some high-profile investments in U.S. financial companies went awry, the huge pools of capital are back doing deals.

China Investment Corp. is planning a $500 million investment in Blackstone hedge funds and took part in Morgan Stanley’s recent rights issue. The Qatar Investment Authority is considering an investment in Porsche………Full Article (Subscription Required): Source

Posted on 22 June 2009 by VRS |  Email |Print

From Harvard.edu: Government investment funds, often referred to as “sovereign wealth funds,” have become increasingly visible investors in the United States, a trend that has not escaped the attention of Congress.
A series of recent investments led the Senate Banking, Housing and Urban Affairs Committee to raise concerns in 2008 over national security and the possible impact on the economy of large influxes of foreign governmental investment………Full Article: Source

Posted on 22 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 22 June 2009 by VRS |  Email |Print

FromSsingaporean Skeptic: Skeptic is really skeptical about the calculation done by Temasek Holdings to show that they have ‘outperformed’ other funds. One fund which they mentioned that Temasek outperformed is Berkshire Hathaway.

Unlike Temasek Holdings, Berkshire Hathaway has far greater transparency in their investments………Full Article: Source

Posted on 22 June 2009 by VRS |  Email |Print

From Indiatimes.com: State Bank of India is talking to the governments of Qatar and sovereign entities in Oman to set up a private equity fund.
“The government has designated SBI as the operationalising agency for setting up a sovereign wealth fund for the Qatar government,” said OP Bhatt, chairman, State Bank of India………Full Article: Source

Posted on 22 June 2009 by VRS |  Email |Print

From Thepeninsulaqatar.com: Source Thepeninsulaqatar.com: Korea Investment Corporation, South Korea’s sovereign wealth fund, has signed strategic joint investment deals with its Malaysian counterpart and an Australian state-owned fund.

The Korean fund said it had signed agreements with Malaysia’s Khazanah Nasional Berhad and Australia’s QIC “to expand co-operation” in searching for investment opportunities and sharing information. ……..Full Article: Source

Posted on 22 June 2009 by VRS |  Email |Print

From Joongang Daily: After years of being criticized for its inactivity, the Korea Investment Corporation is starting to move to resume overseas investment. The KIC, Korea’s sovereign wealth fund, said yesterday that it signed two memoranda of understanding with foreign firms this week to increase investment opportunities worldwide.
Lasr week, the fund inked a deal with Australia’s QIC followed by another the next day with Malaysia’s Khazanah Nasional Berhad………Full Article: Source

Posted on 22 June 2009 by VRS |  Email |Print

From Tradearabia.com: Kuwait Investment Authority (KIA), the country’s sovereign wealth fund, might sell its stake in Islamic lender Boubyan Bank in a public auction, a newspaper said.

Local daily Al-Watan said KIA aims to sell its 20 percent stake in Boubyan at 550 fils per share………Full Article: Source

Posted on 22 June 2009 by VRS |  Email |Print

From Independent: The Doha Securities Market, one of the Gulf’s biggest stock market, valued at about $1bn (£600m), is looking to float within the next two to three years. A spokesman for Qatar Investment Authority, the sovereign fund that owns the exchange through Qatar Holding, confirmed on Friday night that a flotation is being considered but would give no details.

DSM, which will change its name to Qatar Exchange today, will seek a primary listing in Doha as well as dual-listings in New York and Paris. Qatar Holding’s other big investments include those in Barclays, Credit Suisse and J Sainsbury while the QIA has a big stake in the London Stock Exchange. ……..Full Article: Source

Posted on 22 June 2009 by VRS |  Email |Print

From BBC: NYSE Euronext is to acquire a 20% stake in Qatar Exchange for $200m (£121.3m), as part of a deal with parent company Qatar Holdings, the investment arm of the emirate’s sovereign wealth fund.

The deal is aimed at boosting business in the Middle East for both partners. Andre Went, a senior NYSE Euronext executive, will head the new exchange………Full Article: Source

Posted on 22 June 2009 by VRS |  Email |Print

Fom Financeasia.com: The Government of Singapore Investment Corporation (GIC) announced last week a couple of top management appointments that will become effective on July 1.

GIC was set up in 1981 to manage Singapore’s foreign reserves. It currently manages in excess of $100 billion, making it one of the world’s largest fund management companies………Full Article: Source

Posted on 22 June 2009 by VRS |  Email |Print

Fom Business-standard.com: China Investment Corporation may have learned that politics rarely brings riches. The sovereign wealth fund’s chairman said only in December that he didn’t dare invest in financial assets, prompted by some painful losses on Western firms.
Now the CIC has topped up its investment in Wall Street bank Morgan Stanley, helped fund manager BlackRock buy rival Barclays Global Investors and is reportedly planning to pop $500 million into a hedge fund backed by buyout group Blackstone. It suggests a welcome sea change………Full Article: Source

Posted on 22 June 2009 by VRS |  Email |Print

From Theaustralian.news.com.au: After spending nine months licking its wounds as global markets plunged, China’s massive sovereign wealth fund China Investment Corporation is on the move once more — and this time it has Australia firmly in its sights.

This week CIC — which manages $US200 billion ($248.6bn) of China’s foreign reserves — made only its fourth offshore investment by lending $200 million to industrial property group Goodman………Full Article: Source

Posted on 22 June 2009 by VRS |  Email |Print

From Forexhound.com: China’s $200 billion sovereign wealth fund is on the prowl and looking for solid hedge funds to invest in. We wonder whether they have dug deep enough in the silos in that case.
The Chinese Investment Corporation (CIC) seeks to select a handful of successful managers who offer superior returns across a broad spectrum of strategies. Funds-of-funds are up for consideration too according to the adviser working the funds………Full Article: Source

Posted on 22 June 2009 by VRS |  Email |Print

From China Knowledge: China Investment Corp (CIC), the country’s US$200 billion sovereign wealth fund, has taken over the supervision of China Reinsurance (Group) Corp’s management team from the China Insurance Regulatory Commission (CIRC), the nation’s insurance watchdog, according to an online statement published by CIC on Wednesday.

CIC’s news department said that CIC will be entitled to name senior managers at China Reinsurance, which is 85.5% held by Central Huijin Investment Co, an investment arm of CIC, and 14.5% owned by China’s Ministry of Finance (MOF)………Full Article: Source

Posted on 22 June 2009 by VRS |  Email |Print

From Cctv.com: In a move to inject funds into China’s social security system and support an aging population, the State Council recently reached a decision requiring specific listed companies to transfer a portion of state-owned shares to the National Social Security Fund.
The measure applies to 131 state-controlled companies that have listed on the domestic stock
market after reforms introduced in 2005, their current market capitalization is nearly 64 billion yuan. The policy also applies to companies that will list in the future………Full Article: Source

Posted on 22 June 2009 by VRS |  Email |Print

From Adn.com: The board of trustees of the Alaska Permanent Fund Corporation recently changed how we describe and categorize investments. We now use an allocation that groups assets based on risk characteristics, rather than by the type of investment.
The underlying investments and their proportions haven’t changed significantly and are very similar to allocations from recent years, with a similar risk profile………Full Article: Source

Posted on 22 June 2009 by VRS |  Email |Print

From Theaustralian.news.com.au: There are no plans to appoint former Liberal treasurer Peter Costello to a position in the running of the Future Fund, Treasurer Wayne Swan says.

Fairfax newspapers said on Sunday the government had earmarked Mr Costello for a board position of the $60 billion Future Fund, which he helped to set up when in government………Full Article: Source

Posted on 22 June 2009 by VRS |  Email |Print

From Nytimes.com: Abu Dhabi state investment agency Mubadala Development said on Wednesday it was interested in partnerships with leading aerospace groups but denied a report it planned to take stakes in major European aerospace companies, Reuters said.

“Partnering with the world’s leading aerospace organizations forms an integral part of the long-term strategy we are taking,” Aerospace Associate Director Homaid Al Shemmari told Reuters at the Paris Air Show on Wednesday………Full Article: Source

Posted on 22 June 2009 by VRS |  Email |Print

From Maktoob.com: Noor Islamic Bank, which is 25 percent owned by the SWF Investment Corporation of Dubai (ICD) , has received a portion of the emirate’s $10 billion economic bailout bond in the form of deposits, the company’s chief executive said.

“We received part of the Dubai $10 billion bond in deposits,” Hussain al-Qemzi said in an interview Sunday. “We also received deposits from the Mnistry of Finance.”……..Full Article: Source

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