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Sovereign Wealth Funds Briefing 01.Jul 2009

Posted on 01 July 2009 by VRS |  Email |Print

From WSJ: Just as the international community began to take environmental issues seriously, the global financial crisis hit and arrested national leaders’ attention.

Some, nevertheless, advanced green projects via their stimulus packages: The United States’ 2009 Recovery Act provides $16.8 billion to “revive the renewable energy industry and provide the capital over the next three years to eventually double domestic renewable energy capacity”……..Full Article (Subscription Required): Source

Posted on 01 July 2009 by VRS |  Email |Print

From Reuters: Korea Investment Corp (KIC) is set to spend $1 billion of its overseas alternative investment budget in the second half in private equity secondary markets, hedge funds and commodities, an official said on Tuesday.

The sovereign wealth fund will make a fresh round of alternative asset purchases this year with $3 billion it is set to receive from the finance ministry………Full Article: Source

Posted on 01 July 2009 by VRS |  Email |Print

From Guardian: South Korea said on Tuesday the state-run pension fund, which manages $200 billion, is set to boost the portion of its holdings in stocks and property in 2010 while reducing bonds in its overall investment mix.
By shifting funds to stocks and away from bonds, the National Pension Service is adopting a slightly riskier profile, which one fund manager said reflected a need to boost returns to support pension payouts to an ageing population………Full Article: Source

Posted on 01 July 2009 by VRS |  Email |Print

From Bloomberg: Kenya’s National Social Security Fund, the nation’s state-run pension fund, said its assets rose 11 percent during the 12 months to June 30 2008.

Assets rose to 90.5 billion shillings ($1.17 billion) from 81.3 billion shillings a year earlier, the fund said in a statement published in the Nairobi-based Daily Nation newspaper today………Full Article: Source

Posted on 01 July 2009 by VRS |  Email |Print

From Businessdailyafrica.com: The National Social Security Fund (NSSF) has released results of its financial operations between July 2007 and June 2008.

It is really a mixed bag of good and bad things, but largely reflects the fact that it is in need of urgent reforms better attuned to the needs of retirees………Full Article: Source

Posted on 01 July 2009 by VRS |  Email |Print

From Bloomberg: China Development Bank Corp., the government-run bank for public works projects, plans to open an office in Brazil next year to invest in ports, steel mills and energy, Rio de Janeiro state Governor Sergio Cabral said.

The bank expects to locate the branch in the city of Rio, home to the nation’s state-controlled oil company Petroleo Brasileiro SA, and Vale SA, the world’s largest iron-ore producer, by the middle of 2010, Cabral said in a statement………Full Article: Source

Posted on 01 July 2009 by VRS |  Email |Print

From Automotiveworld.com: The Qatar Investment Authority (QIA) has reportedly submitted a formal offer to the Porsche and Piech families, which own German sports car manufacturer Porsche.
The offer concerns an investment in Porsche SE and the purchase of options in Volkswagen stock………Full Article: Source

Posted on 01 July 2009 by VRS |  Email |Print

From Freeinternetpress.com: The emirate of Qatar is waiting for Porsche and Volkswagen to settle their power struggle, but its patience will eventually run out, insiders say.
Even if it ditches its plans to buy a stake in either firm, though, the wealthy Gulf state still has its sights set on investments in Germany………Full Article: Source

Posted on 01 July 2009 by VRS |  Email |Print

From Bizjournals.com: GIC, a subsidiary of the Government of Singapore Investment Corp. Pte. Ltd., acquired all of ProLogis’ Chinese operations and part of its Japanese property fund interests in the first quarter for $1.3 billion.
ProLogis Inc. sold most of its North American portfolio of industrial buildings, which has been marketed for sale since late 2008, in the second quarter for $561 million, the company said Tuesday………Full Article: Source

Posted on 01 July 2009 by VRS |  Email |Print

From Reuters: Kuwaiti telecoms company Zain, whose biggest shareholder is Kuwait’s sovereign wealth fund, is prepared to sell its African operations after receiving several offers including one from Europe’s largest entertainment group, Vivendi.

“Zain has no objection to go ahead with the deal in case the offered price was in line with the level Zain wants,” Assistant Chief Executive for Business Development and Government Relations Barrak al-Subeih told Kuwaiti daily al-Anbaa in remarks published on Tuesday………Full Article: Source

Posted on 01 July 2009 by VRS |  Email |Print

From AFP: French state-controlled nuclear giant Areva said Tuesday it was opening its capital to new investors - including sovereign wealth funds such as Mubadala of Abu Dhabi - and would sell a subsidiary to raise money for massive investments in new nuclear technology.
The company also said it was considering the sale of its stakes in French metal mining group Eramet and Geneva-based computer chip maker STMicroelectronics………Full Article: Source

Posted on 01 July 2009 by VRS |  Email |Print

From Guardian: The U.S. dollar’s share in global currency reserves rose to 64.9 percent in the first quarter of 2009 as overall reserves slipped for a third consecutive quarter, data from the International Monetary Fund showed on Tuesday.
The IMF data, which covers about two-thirds of the world’s foreign exchange reserves, showed that the dollar’s share of the roughly $4.0 trillion reserves of which the composition is known rose to $2.6 trillion………Full Article: Source

Posted on 01 July 2009 by VRS |  Email |Print

From Lse.co.uk: Norway’s central bank will sell 300 million Norwegian crowns daily in July to buy foreign exchange for the country’s oil fund, after selling 200 million crowns in June, the bank said on Tuesday.

The central bank manages Norway’s $300 billion Government Pension Fund — Global which invests surplus oil wealth to save for the future when the oil and gas run out………Full Article: Source

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