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Sovereign Wealth Funds Briefing 07.Oct 2009

Posted on 07 October 2009 by VRS |  Email |Print

From Reuters: Total assets managed by the world’s sovereign wealth funds rose 18 percent in 2008 to $3.9 trillion (2.4 trillion pounds) as inflows of new funds more than offset losses made by their investments, a London-based thinktank said.

International Financial Services London (IFSL) said in a recent report other sovereign investment vehicles, such as pension reserve funds and development funds, held $5.5 trillion in additional assets……………….Full Article: Source

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Posted on 07 October 2009 by VRS |  Email |Print

From Reuters: Value of assets held by the world’s sovereign wealth funds fell to $3 trillion this year from $3.6 trillion at end-2007 as the credit crisis nearly halved their equity portfolio, according to Deutsche Bank.

The German bank’s report on state-owned investment funds also highlighted their positive long-term prospects, with their total assets under management likely to more than double to $7 trillion in the next 10 years……………….Full Article: Source

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Posted on 07 October 2009 by VRS |  Email |Print

From Bloomberg: H3 Global Advisors, a Sydney-based commodities and hedge-fund manager, is seeking to lure cash from sovereign wealth funds including Korea Investment Corp. as it aims to more than double assets by the end of 2010.

The firm has held talks with groups such as KIC, Government of Singapore Investment Corp., Abu Dhabi Investment Authority, and Australia’s Future Fund, H3’s co-founder and Chief Executive Officer Andrew Kaleel said in an interview……………….Full Article: Source

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Posted on 07 October 2009 by VRS |  Email |Print

From Thenational.ae: Abu Dhabi Investment Council (ADIC) has set up a US$600 million (Dh2.2bn) Islamic investment company in partnership with the sovereign wealth funds of Malaysia and Brunei, it was announced yesterday.

Fajr Capital, based in Dubai International Financial Centre, will focus its investments in financial services and key Muslim markets, the firm said yesterday……………….Full Article: Source

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Posted on 07 October 2009 by VRS |  Email |Print

From Bernama: Efforts are underway by Khazanah Nasional Bhd and the Qatar Investment Authority to establish a joint investment fund, said International Trade and Industry minister Datuk Mustapa Mohamed Tuesday.

He disclosed that Khazanah officials were already in talks with their counterparts in Qatar and more follow-up meetings have been suggested……………….Full Article: Source

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Posted on 07 October 2009 by VRS |  Email |Print

From Btimes.com.my: The state-owned investment fund’s purchase of a 25 per cent stake in Fajr represents the government’s participation in building cross-linkages between Malaysia and key Muslim markets, Khazanah managing director Tan Sri Azman Mokhtar said in a statement issued in Kuala Lumpur yesterday.

Khazanah’s purchase concluded with the completion of its first round of funding with commitments amounting to US$588 million (RM2 billion), bringing together prominent shareholders from key Muslim markets………………Full Article: Source

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Posted on 07 October 2009 by VRS |  Email |Print

From Brudirect.com: The Brunei Investment Agency’s initiative to gain exposure in the Islamic financial industry has gained momentum with its investment in the newly launched Fajr Capital Ltd.

Fajr Capital Ltd announced its launch yesterday as a new Islamic firm focussing on financial services and complementary opportunities in the broader economy in key Muslim markets including Brunei……………….Full Article: Source

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Posted on 07 October 2009 by VRS |  Email |Print

From Gulf-times.com: The Qatar Investment Authority (QIA), along with other sovereign funds, should enhance investments into renewable energy to promote low-carbon economy, according to Nomura International.
The QIA could take a lead role when the sovereign wealth funds (SWFs) meet in Baku today to discuss how best to invest in low carbon as they prepare the Santiago Principles, which aim to help maintain a stable global financial system and free flow of capital and investment……………….Full Article: Source

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Posted on 07 October 2009 by VRS |  Email |Print

From Arabtimesonline.com: Kuwait’s KIA might consider selling shares in Zain, in which it holds a 24.6 percent stake, though the sovereign wealth fund is not party to talks between stockholders of the telecom firm and potential buyers.
“We are not married to our investments. Whenever there is a good return on them, they are for sale,” the fund’s managing director, Bader al-Saad said……………….Full Article: Source

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Posted on 07 October 2009 by VRS |  Email |Print

From Thejakartaglobe.com: Sovereign wealth funds are cushioning oil-dependent Gulf economies against the financial crisis, but observers warn that some governments have raided them for current spending and many investments have shrunk in value.
The four main funds are Abu Dhabi Investment Authority (ADIA), Kuwait Investment Authority (KIA), Qatar Investment Authority (QIA) and the Saudi foreign assets managed by the Saudi Arabian Monetary Agency (SAMA)……………….Full Article: Source

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Posted on 07 October 2009 by VRS |  Email |Print

From Reuters: Alberta’s public-sector fund manager is running the numbers on a half-dozen private equity deals around the world as it looks to take advantage of a recovering economy after a year of negative returns, its chief executive said on Tuesday.

Alberta Investment Management Corp, which manages about C$70 billion ($66 billion) in government accounts and pensions in the energy-rich Canadian province, has a deal-value “sweet spot” of about C$200 million for such transactions, AimCo CEO Leo de Bever said……………….Full Article: Source

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Posted on 07 October 2009 by VRS |  Email |Print

From Themalaysianinsider.com: An Indonesian district court, in a controversial ruling, has decided to allow the hearing of a class action suit by a group of nine people against Temasek Holdings and several telco companies.
Temasek’s lawyer pointed out that the ruling was flawed under the law because no mediation process had taken place between the litigants, a revelation the judge later acknowledged……………….Full Article: Source

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Posted on 07 October 2009 by VRS |  Email |Print

From Commodityonline.com: Even with the financial turmoil the rest of the world is facing, China Investment Corp (CIC) still has its $200 billion sovereign wealth fund intact. Fortunately, it will be put to great use — to build up the global economy.
Why would China do such a thing though? Are they just great Samaritans? Well, if you look deeper, you will see that China has been deeply effected by the financial crisis more than one may believe……………….Full Article: Source

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