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Sovereign Wealth Funds Briefing 16.Dec 2009

Posted on 16 December 2009 by VRS |  Email |Print

From Reuters: The fallout from the global credit crisis is changing, or perhaps correcting, the perception that sovereign wealth funds (SWFs) or state-owned investors will always patiently ride out paper losses on their investment.
Sovereign funds lost an estimated $600 billion (369 billion pounds) over the past two years as the credit crisis sent global stock markets into tailspin and large stakes in Western banks imploded………………………………..Full Article: Source

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Posted on 16 December 2009 by VRS |  Email |Print

From Punchng.com: Economists at the Centre for the Study of the Economies of Africa on Tuesday re-echoed the need for the Federal Government to create the sovereign wealth fund.
Sovereign wealth funds are investment vehicles created by governments with the strategic aim of leveraging current account surpluses to invest in high risk and high return income-producing assets………………………………..Full Article: Source

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Posted on 16 December 2009 by VRS |  Email |Print

From Financierworldwide.com: Sovereign wealth funds (SWFs) are seeking a larger role in private equity deals, and wish to develop deeper business relationships with private equity firms, according to a Reuters report, which cites a number of industry sources.
For their part, private equity firms are concerned that their traditional investor base will renege on commitments once current capital is exhausted………………………………..Full Article: Source

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Posted on 16 December 2009 by VRS |  Email |Print

From Stockmarketsreview.com: Sovereign Wealth Funds are not a new phenomenon.They have been discussed for many years, but their importance has risen considerably since the start of the recent global financial crisis.
Governments with revenue streams dependent on the value of one underlying commodity, through exports, often pursue diversification of investments by setting up odies and allocating funds with the goal of stabilizing the revenues………………………………..Full Article: Source

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Posted on 16 December 2009 by VRS |  Email |Print

From The Associated Press: Abu Dhabi’s biggest sovereign wealth fund has bought more than 10 per cent of the Hyatt Hotels Corp. shares floated by the iconic hotelier last month.
Chicago-based Hyatt disclosed the sale Monday in a filing with the U.S. Securities and Exchange Commission. The deal was made public on the same day oil-rich Abu Dhabi agreed to pump US$10 billion in bailout funds into its struggling neighbour Dubai………………………………..Full Article: Source

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Posted on 16 December 2009 by VRS |  Email |Print

From Reuters: Citigroup Inc said on Tuesday the Abu Dhabi Investment Authority filed an arbitration claim against it, alleging misrepresentation over a $7.5 billion investment by the sovereign wealth fund in the bank.

The sovereign wealth fund bought equity units from the U.S. bank in 2007. In the original deal with ADIA, the Citigroup securities must be converted into common stock at a price between $31.83 and $37.24 a share between March 2010 and September 2011………………………………..Full Article: Source

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Posted on 16 December 2009 by VRS |  Email |Print

From Abc.az: The State Oil Fund of Azerbaijan (SOFAZ) has announced sales of assets it is transferred in accordance with production sharing agreements (PSAs).

The Fund reports that welding equipment, disassembled old pipes of various types, insulators and other materials were set out for sales………………………………..Full Article: Source

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Posted on 16 December 2009 by VRS |  Email |Print

From IPE: The value of investments in the Norway Government Pension Fund – Global increased to NOK2.6trn (€305.6bn) by the end of November after a brief dip in value the previous month.

Latest figures from Norges Bank’s monthly balance sheet showed the value of the pension fund slipped from a high of NOK2.55trn at the end of the third quarter, to NOK2.496trn in October………………………………..Full Article: Source

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Posted on 16 December 2009 by VRS |  Email |Print

From Responsible-investor.com: Norges Bank Investment Management, the arm of the Norwegian central bank that runs the assets of the NOK2,385bn (€280bn) Government Pension Fund, is expanding its corporate governance team with a series of new hires.
The planned appointments include a new head of core corporate governance issues to be based in Oslo within NBIM’s Ownership Strategies Department under Anne Kvam, NBIM’s corporate governance head………………………………..Full Article: Source

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Posted on 16 December 2009 by VRS |  Email |Print

From Reuters: Kuwait’s stock exchange is not lacking liquidity, the country’s finance minister said on Tuesday, indicating that the country’s wealth fund had no intention to inject cash into the bourse at the moment.
“The market does not lack liquidity,” Mustapha al-Shamali told reporters when asked about the local portfolio of the Kuwait Investment Authority………………………………..Full Article: Source

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Posted on 16 December 2009 by VRS |  Email |Print

From Themalaysianinsider.com: The DAP wants state investment arm Khazanah Nasional to publicly disclose its disposal of stakes in government linked companies (GLCs) to ensure public funds are not abused.

Its Petaling Jaya Utara MP Tony Pua (left) also questioned whether the government was selling off its stake in GLCs to raise money to fund the administration’s failed mega-projects………………………………..Full Article: Source

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Posted on 16 December 2009 by VRS |  Email |Print

From Thestar.com.my: 1Malaysia Development Fund Bhd (1MDB) was originally meant to be Terengganu Investment Authority Bhd (TIA) – a state-owned sovereign wealth fund (SWF) with RM11bil in its coffers (indeed, an eye-popping amount considering the country’s recessionary pressures then) – RM5bil to be raised from government-backed debt papers and RM6bil worth of oil royalty.

But what was known as the country’s first state-owned SWF failed to withstand its most crucial litmus test………………………………..Full Article: Source

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Posted on 16 December 2009 by VRS |  Email |Print

From Mlive.com: Alaska Permanent Fund dividends and inflation proofing account for another $1.5 billion.

General fund spending from unrestricted earnings, mostly supplied by the petroleum industry, would total $4.7 billion, up from $4.3 billion this year………………………………..Full Article: Source

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