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Sovereign Wealth Funds Briefing 13.Jan 2010

Posted on 13 January 2010 by VRS |  Email |Print

From Bloomberg: The dollar may come under pressure as sovereign wealth funds resume investing in international assets and diversify out of commodity earnings denominated in the U.S. currency, according to UBS AG.

Such funds “tend to favor equities over bonds” and also increased allocations to emerging markets,” Mansoor Mohi-uddin, head of currency strategy in Singapore at UBS, wrote in an e- mailed note today. “Their return to prominence may hinder the dollar at the margin.”…………………………………..Full Article: Source

Posted on 13 January 2010 by VRS |  Email |Print

From Gulfnews.com: Responsible investing for the long-term has paid off for the Abu Dhabi Investment Authority (Adia), which has out-performed its benchmark targets for returns and helped secure the future of the emirate.

By diversifying its holdings and investing for the long-term, the fund has been able to ride out the present turmoil in international markets and take up the investment opportunities that have presented themselves even in these difficult times……………………………………Full Article: Source

Posted on 13 January 2010 by VRS |  Email |Print

From Thenational.ae: Mubadala Development, the investment arm of the Abu Dhabi Government, has entered the aviation components financing sector with a US$100 million (Dh367m) deal with Air Berlin.

Mubadala will provide financing for the purchase of 12 spare engines for the German carrier, it confirmed yesterday. The arrangement was tied to a 10-year engine-servicing contract between Air Berlin and SR Technics, an aircraft maintenance, repair and overhaul (MRO) firm based in Switzerland that is controlled by Mubadala……………………………………Full Article: Source

Posted on 13 January 2010 by VRS |  Email |Print

From Bloomberg: Russia’s two sovereign wealth funds declined a combined $15.9 billion last month as the government tapped its reserves to plug its spending gap.

The Reserve Fund fell to $60.5 billion from $75.1 billion at the end of November, while the National Wellbeing Fund decreased to $91.6 billion from $92.9 billion, the Finance Ministry said on its Web site today……………………………………Full Article: Source

Posted on 13 January 2010 by VRS |  Email |Print

From Responsible-investor.com: An arm of Singapore’s huge $120bn sovereign wealth fund Temasek has bought into a California-based solar cell technology company.
Temasek’s Vertex Venture Holdings subsidiary – alongside fellow state-run investor EDB Investments – has participated in an $18m (€12.6m) fundraising by solar cell technology company Innovalight……………………………………Full Article: Source

Posted on 13 January 2010 by VRS |  Email |Print

From Asiaone.com: The Government of Singapore Investment Corp (GIC) has written down most of its US$675 million investment in a giant New York apartment complex that was bought at the height of the property boom in the United States but which has since suffered from the collapse of the housing market there.

The joint owners of Stuyvesant Town and Peter Cooper Village defaulted on their debts last Friday, following a US court ruling that dealt the project a death blow last October……………………………………Full Article: Source

Posted on 13 January 2010 by VRS |  Email |Print

From Temasekreview.com: Singapore’s largest sovereign wealth fund Government Investment Corporation (GIC) may have lost more than SGD$30 billion dollars of the country’s reserves in risky overseas investments last year.

GIC was established in 1981 as a “private” company to manage the reserves of Singapore which is accumulated from years of budget surpluses due to Singapore’s high national saving rates, especially in the 1970s……………………………………Full Article: Source

Posted on 13 January 2010 by VRS |  Email |Print

From Reuters: China’s sovereign wealth fund may report 2009 investment returns of more than 10 percent, up from 6.8 percent in 2008, the Shanghai Securities News reported on Wednesday.

The paper did not give a source for the information. It added that China Investment Corp (CIC) may expand the scope of its investment, for example, to include the U.S. railways sector……………………………………Full Article: Source

Posted on 13 January 2010 by VRS |  Email |Print

From Bloomberg: A China Investment Corp. official said the Asian nation may raise benchmark interest rates before the U.S. because it faces a greater risk of an asset bubble, Market News International reported today.

The U.S. dollar is unlikely to fall further this year, and the outlook for the yen isn’t promising, Peng Junming, an official in the asset allocation and strategic research department of China’s $300 billion sovereign wealth fund also was quoted as saying……………………………………Full Article: Source

Posted on 13 January 2010 by VRS |  Email |Print

From Abc.az: Azerbaijan prepares to receive an external donor to finance works to develop application of renewable and alternative energy sources. From 2010, the State Oil Fund of Azerbaijan (SOFAZ) plans to finance projects in the sphere of application of renewable and alternative energy sources and the Azerbaijan Investment Company (AIC) has already chosen such projects for financing.

Informed sources said that arrangement on the start of financing by the German Development Bank KfW the projects in the sphere of application of renewable and alternative energy sources was achieved in the Azerbaijan-German consultations for economic cooperation, held in December……………………………………Full Article: Source

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