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Sovereign Wealth Funds Briefing 02.Oct 2009

Posted on 02 October 2009 by VRS |  Email |Print

From Globalpensions.com: Many sovereign wealth funds did not rebalance in the wake of the financial crisis, suggesting their roles as pension providers has lost importance, one expert said.
BNP Paribas Investment Partners head of central banks, supranational institutions and sovereign wealth funds Gary Smith said as the asset pools controlled by national wealth managers has shrunk, the priority has been to use these schemes as national stabilization funds, rather than pension funds……………..Full Article: Source

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Posted on 02 October 2009 by VRS |  Email |Print

From Dow Jones: Russia’s two oil wealth funds fell to 5.062 trillion rubles ($168.5 billion) on Oct. 1 from RUB5.570 trillion a month earlier, Interfax reported Thursday citing a statement from the finance ministry.

Assets in Russia’s Reserve Fund totaled RUB2.298 trillion, while the National Welfare Fund was worth RUB2.764 trillion……………..Full Article (Subscription Required): Source

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Posted on 02 October 2009 by VRS |  Email |Print

From Asiaone.com: The Government of Singapore Investment Corporation (GIC) has done well in the timing of its stock market moves given the size of its portfolio, said fund managers and analysts yesterday.

GIC steadily sold some of its equities from July 2007 until the onset of the global financial crisis last September, thereby cutting its exposure to public equities by over 10 percentage points of its total portfolio and boosting its cash holdings……………..Full Article: Source

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Posted on 02 October 2009 by VRS |  Email |Print

From Bloomberg: The Australian government’s so-called Future Fund pension fund generated revenue of A$3.6 billion ($3.1 billion) last year, an improvement from the prior year, the Australian Financial Review reported.

The government cannot use the money until after 2020, the newspaper said. Under rules governing the A$61 billion fund, earnings must be reinvested until enough money has accumulated to cover the pension liabilities for Australia’s public servants, the newspaper said……………..Full Article: Source

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Posted on 02 October 2009 by VRS |  Email |Print

From Thenational.ae: Sowwah Island, the capital’s future official financial centre, which has developed by the sovereign wealth fund Mubadala Development, will be connected to the Abu Dhabi island by the end of this year.
As the clients of the Beach Rotana hotel who are facing the 105-hectare island can see, construction is quickly moving ahead, on what used to be an empty desert area with only one shisha shack a few years back……………..Full Article: Source

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Posted on 02 October 2009 by VRS |  Email |Print

From China Knowledge: China’s Central Huijin Investment Co Ltd, a wholly-owned subsidiary of China Investment Corp, China’s sovereign wealth fund, bought approximately 128.6 million A shares of China Construction Bank in the 12 months ended on Sep. 22.

According to a statement the Chinese lender filed with the Shanghai Stock Exchange, Central Huijin now holds a 57.08% stake in the bank……………..Full Article: Source

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Posted on 02 October 2009 by VRS |  Email |Print

From Newsweek.com: Norway controls the largest sovereign wealth fund (SWF) outside the Middle East, worth $435 billion, and the pot is growing fast.
A timely decision to raise the proportion of equities in the portfolio allowed the Government Pension Fund, which invests the country’s oil and gas revenues, to snap up stocks at the start of this year’s global rally……………..Full Article: Source

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Posted on 02 October 2009 by VRS |  Email |Print

From Businessinsider.com: China’s sovereign wealth fund is spending more money on oil, purchasing 11% of a Kazakh oil producer for $939 million.

China’s investment strategy is to purchase real estate and oil companies and invest with hedge funds and money managers……………..Full Article: Source

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Posted on 02 October 2009 by VRS |  Email |Print

From Theglobeandmail.com: Sovereign wealth fund China Investment Corp. sealed a deal yesterday to acquire an 11-per-cent stake in KazMunaiGas Exploration and Production, Kazakhstan’s second-largest oil producer.

Also this week, the Nigerian government confirmed that government-controlled China National Offshore Oil Corp. has made a pitch to buy up to six billion barrels of Nigeria’s crude oil reserves in a deal that could be worth as much as $30-billion (U.S.)……………..Full Article: Source

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Posted on 02 October 2009 by VRS |  Email |Print

From Trend.az: Baku will host an international round table on the topic “Sovereign Wealth Funds: Global perspectives and local challenges” on Oct 7.

The discussions will be attended by President of the Forum SWF David Murray (USA), Deputy Director of Revenue Watc Institute (USA) Anthony Hyuti, as well as expert of Public Finance Monitoring Center (Azerbaijan) Kenan Aslanli and representatives of SOCAR (State Oil Company of Azerbaijan)……………..Full Article: Source

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