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Sovereign Wealth Funds Briefing 23.Jun 2009

Posted on 23 June 2009 by VRS |  Email |Print

From Reuters: Kuwait Investment Authority (KIA), the Gulf state’s sovereign wealth fund, will offer its stake in Islamic lender Boubyan Bank in a public auction in July, a state-controlled firm said.

KIA has set a minimum price of 550 fils ($1.91) per share for the auction on July 22, Kuwait Investment Co, a unit of KIA, said in a statement obtained by Reuters on Monday……..Full Article: Source

Posted on 23 June 2009 by VRS |  Email |Print

From Gulfnews.com: Dubai government stakes in Galadari Group have been transferred to the Investments Corporation of Dubai (ICD) as stated in decree No 18 of 2009, issued by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

The ICD is the investment arm of Dubai government and has a portfolio ranging across all spheres of the economy, including finance, transportation, utilities and energy, industrial, real estate and leisure……..Full Article: Source

Posted on 23 June 2009 by VRS |  Email |Print

From Reuters: The Qatar Investment Authority could acquire more shares in ailing German sports car maker Porsche SE than previously thought, German magazine Focus said.

In an advance copy of an article due to be published on June 22, the magazine referred to details of a paper outlining the future ownership structure that it said Porsche CEO Wendelin Wiedeking had presented to the Porsche and Piech families……..Full Article: Source

Posted on 23 June 2009 by VRS |  Email |Print

From Financialstandard.com.au: Short-lived speculation that former Liberal Party Treasurer Peter Costello was about to be appointed by the Labor government to a leading position in running the Future Fund shows the fund is still poorly understood, three years after its launch.

Rumours about Costello’s possible appointment began to circulate during the weekend when unnamed sources, allegedly senior Labor Party advisers, said that “We [the government] are looking very seriously at Costello for the job.”…….Full Article: Source

Posted on 23 June 2009 by VRS |  Email |Print

From Seekingalpha.com: After watching their US$3bn investment in the Blackstone IPO shrink by nearly two-thirds (from $29.605 to $12), China Investment Corp is reported to be investing $500mn in Blackstone funds (not directly in the stock this time) in an attempt to get into markets while prices are cheap.
Fair enough on the market call, but I guess there aren’t any hard feelings regarding the overvalued price CIC was given previously for Blackstone shares ($29.605)……..Full Article: Source

Posted on 23 June 2009 by VRS |  Email |Print

From Mk.co.kr: With a global financial market showing signs of stabilization, SWFs are actively partaking in alternative investments, emerging market investments and domestic investments in order to make up for losses created in equity and bond investments last year.
The Korea Investment Corporation (KIC) is not an exception either. KIC was found to have posted an investment profitability of -13 percent in 2008……..Full Article: Source

Posted on 23 June 2009 by VRS |  Email |Print

From Bangkokpost.com: The Securities and Exchange Commission is in the process of investigating possible insider trading allegations at the Government Pension Fund, according to SEC secretary-general Thirachai Phuvanatnaranubala.

“We have yet to reach any conclusions in the case,” he said……..Full Article: Source

Posted on 23 June 2009 by VRS |  Email |Print

From Nationmultimedia.com: The Finance Ministry is assessing whether to impose a rule prohibiting the manager of the Government Pension Fund from buying shares for his own benefit.
Finance Ministry permanent secretary Sathit Limpongpan yesterday said the ministry might have to change the regulations regarding management of the GPF……..Full Article: Source

Posted on 23 June 2009 by VRS |  Email |Print

From Nationmultimedia.com: PA Balance Co Ltd, a job recruitment firm, could be signed up next week to look for the new secretary-general of the Government Pension Fund, said Finance Permanent Secretary Sathit Limpongpun.
As chairman of the GPF, Sathit said PA Balance needs to submit the nomination within 30 days after contract signing……..Full Article: Source

Posted on 23 June 2009 by VRS |  Email |Print

From Dow Jones: China said Friday it will ask the state pension fund to take over some state-owned shares in domestically listed companies and mandatorily hold them for a longer period, in an apparent move to support a stock market that has been one of the world’s best performers this year.

The decision came just a day after the authorities cautiously reopened the floodgate of initial public offerings after a nearly year-long suspension by allowing the listing of a small medicine firm……..Full Article: Source

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