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Sovereign Wealth Funds Briefing 07.Jul 2009

Posted on 07 July 2009 by VRS |  Email |Print

From Timesonline.co.uk: The Qatari rescue investment in Barclays at the height of last autumn’s financial crisis saw the Arab emirate sitting yesterday on paper profits of more than £700 million.

The Qatar Investment Authority (QIA), the sovereign wealth fund, and Challenger, a vehicle backed by the Qatari Royal Family, bought £800 million of convertible notes that could be changed into Barclays shares at 153p last October………Full Article: Source

Posted on 07 July 2009 by VRS |  Email |Print

From Euractiv.com: European Commission proposals to regulate alternative investment funds discriminate against private equity and favour direct competitors like sovereign wealth funds or maverick businessmen, Javier Echarri, secretary-general of the European Private Equity and Venture Capital Association (EVCA), said.
What we need most are people who get engaged from our companies and go to talk to people in their countries, with politicians and the press. I don’t think it is a question of financial resources. We have it already and we have always had them. We don’t need to put up a fund………Full Article: Source

Posted on 07 July 2009 by VRS |  Email |Print

From Efinancialcareers-gulf.com: In the murky world of sovereign wealth funds, those in the Middle East are among the world’s most opaque.
However, with investments in international firms on the up, and incidences of fraud more likely in times of crisis, there’s likely to be opportunities for compliance and governance specialists going forward………Full Article: Source

Posted on 07 July 2009 by VRS |  Email |Print

From Arabianoilandgas.com: Mubadala Development, a sovereign wealth fund belonging to the government of Abu Dhabi has said that a 1227 megawatt gas-fired thermal power plant it operates in Algeria has started operations.

The US$900 million plant is a joint venture between Mubadala Development and Canadian contractor SNC-Lavalin (who own 51%) the state-owned Sonatrach, Sonelgaz and Algerian Energy Company owning the remainder………Full Article: Source

Posted on 07 July 2009 by VRS |  Email |Print

From CBC: When China Investment Corp. invested $1.7 billion in Teck Resources stock in July, it looked like another step in the Chinese government’s much-discussed strategic plan to buy resources while they’re cheap.

China has reserves of billions, perhaps trillions, of U.S. dollars, accumulated by its massive exports of manufactured goods to the West. It also has a growing need for raw materials to feed those factories………Full Article: Source

Posted on 07 July 2009 by VRS |  Email |Print

From Juneauempire.com: The Alaska Department of Law has determined that a permanent fund dividend can be paid this year, despite concerns about its legality that led to legislative hearings earlier this year.

“Nothing in law prohibits payment of permanent fund dividends this year,” according to an official opinion the Alaska Attorney General’s Office issued June 16………Full Article: Source

Posted on 07 July 2009 by VRS |  Email |Print

From Theglobeandmail.com: More than 30 years after it was created, Alberta’s multibillion-dollar Heritage Savings Trust Fund has become a stagnant pool of money that has failed to achieve one of its primary goals - diversifying the province’s boom-bust economy.

Former Tory premier Peter Lougheed, whose government created the fund in 1976, is sorely disappointed and has renewed his push to breathe new life into the fund………Full Article: Source

Posted on 07 July 2009 by VRS |  Email |Print

From Guardian: France on Monday unveiled a list of state-owned stakes in companies, worth 14 billion euros, that will be transferred to the government’s strategic investment fund.
The move could make it easier for the government to play a more active role in managing the stakes, including selling off some of them………Full Article: Source

Posted on 07 July 2009 by VRS |  Email |Print

From Reuters: Porsche racked up massive debt and now needs a sovereign-wealth-fund bailout—as opposed to a good, old-fashioned national treasury-funded bailout.
The Chinese and the Russians have reportedly joined Qatar in angling for a stake in Porsche. In any case, one can see why Porsche looks attractive, even if it’s billions in the red:……..Full Article: Source

Posted on 07 July 2009 by VRS |  Email |Print

From Maktoob.com: Porsche Automobil Holding SE said Monday it is still in exclusive talks with Qatar over a capital injection, dismissing German media reports saying that the company was in talks with between three and five additional interested parties for its options on Volkswagen AG shares.

“We don’t know where these statements come from. We have to reject them,” said Porsche spokesman Albrecht Bamler………Full Article: Source

Posted on 07 July 2009 by VRS |  Email |Print

From Financierworldwide.com: China Mengniu Dairy, one of the companies caught up in the toxic milk scandal, is set to strike an $800m investment deal that it hopes will improve its management and operations.
Hopu Investment Management, a mainland fund backed by Singapore’s sovereign wealth fund (SWF) Temasek and Goldman Sachs, will be making the offer as part of a consortium………Full Article: Source

Posted on 07 July 2009 by VRS |  Email |Print

From Chinadaily.com.cn: Last month, China Investment Corp (CIC), the nation’s $200 billion sovereign wealth fund, announced plans to commit A$200 million ($159.3 million0, for an 8 percent equity stake, to the A$485 million financing plan of Australian property trust Goodman Group.

This is the first time that CIC is investing in the real estate sector………Full Article: Source

Posted on 07 July 2009 by VRS |  Email |Print

From Theage.com.au: Some of Australia’s biggest superannuation funds are switching billion of dollars into lower-cost, index-tracking products in an attempt to drive down fees charged by investment managers.

The focus on fees follows some of the worst returns for fund members since the introduction of compulsory superannuation nearly two decades ago and has reignited the debate on whether fund managers add value for the fees charged to outperform the index………Full Article: Source

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