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Sovereign Wealth Funds Briefing 24.Dec 2009

Posted on 24 December 2009 by VRS |  Email |Print

From Themalaysianinsider.com: Glencore, the secretive Swiss commodities trader, took a step towards a public listing valuing it at more than US$35 billion (RM120.26 billion), as investors bought bonds that could give them a near 6 per cent stake.

The US$2.2 billion deal raises the prospect of the sometimes controversial firm adapting its prized employee-owned model, accepting greater public scrutiny in return for access to the deeper pool of capital offered by a stock market listing…………………………………..Full Article: Source

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Posted on 24 December 2009 by VRS |  Email |Print

From Fortune: After months of relative silence, sovereign wealth funds, the huge, state-owned vehicles that export-rich countries use to invest their reserves, are on the prowl again.

“[Funds] are researching deals and trying to get things lined up,” says R.P. Eddy, CEO of Ergo, a research firm that advises some of the world’s biggest sovereign wealth funds. “They’re standing on the edge of the pool and waiting to see who’s going to jump in first.”………………………………….Full Article: Source

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Posted on 24 December 2009 by VRS |  Email |Print

From Citywire.co.uk: Some of the UK’s best known investment trusts have been forced to by buy-back shares after a giant sovereign wealth fund sold out of the sector.

According to a report in the FT, widespread selling by Norges Bank Investment Management, the world’s second largest sovereign wealth fund, has seen discounts in invesment trusts soar to their highest level in 2009…………………………………..Full Article: Source

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Posted on 24 December 2009 by VRS |  Email |Print

From Theaustralian.com.au: In 2020, the Future Fund will be Australia’s biggest property landlord as the $67 billion listed property trust sector cedes its dominance to big sovereign wealth funds and super fund investors.

Among other big trends, the property industry will be grappling with population growth, an ageing population, climate change and the challenge to supply infrastructure…………………………………..Full Article: Source

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Posted on 24 December 2009 by VRS |  Email |Print

From Zawya.com: The value of assets managed by Abu Dhabi’s two leading sovereign wealth funds is likely to have risen to US$425 billion (Dh1.55 trillion) after this year’s rally in oil prices and global financial markets, estimates by an economic consultancy show.

Rachel Ziemba, an economist at RGE Monitor in New York, said the combined assets of the Abu Dhabi Investment Authority (ADIA) and the Abu Dhabi Investment Council (ADIC) had probably recovered by as much as 20 per cent after major losses from the global financial crisis…………………………………..Full Article: Source

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Posted on 24 December 2009 by VRS |  Email |Print

From Reuters: Kuwait’s sovereign wealth fund signed an agreement on Wednesday to reschedule Serbia’s debt to the Gulf Arab state, the official news agency KUNA reported.
Bader al-Saad, managing director of the Kuwait Investment Authority, and visiting Serbian Foreign Minister Vuk Jeremic signed the accord, the agency said, without giving further details…………………………………..Full Article: Source

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Posted on 24 December 2009 by VRS |  Email |Print

From WSJ: Dubai’s debt crisis will continue to hang over the earnings and credit quality of banks in 2010, Standard & Poor’s said in a report on the global outlook for global credit markets.

“Indeed, the fallout from Dubai World’s Nov. 25 announcement that it has requested a six-month moratorium on its $26 billion debt payments—subsequently diminished by news of a bailout by Abu Dhabi—illustrated amply the fears of further bank balance-sheet impairment,” the ratings agency said in the report…………………………………..Full Article: Source

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