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Sovereign Wealth Funds Briefing 14.Jan 2010

Posted on 14 January 2010 by VRS |  Email |Print

From Businessweek.com: Sovereign wealth funds may begin to take more active roles in the companies in which they invest after the global financial crisis, according to Street State Corp., the world’s biggest money manager for institutions.

“It’s an item on their agenda,” said John Nugee, the London-based managing director of the official institutions group at State Street Global Advisors, in a phone interview…………………………………..Full Article: Source

Posted on 14 January 2010 by VRS |  Email |Print

From Efinancialnews.com: The asset management industry has succeeded in capturing as much as a third of the $3 trillion (€2.1 trillion) owned by the world’s sovereign wealth funds, but they are becoming more selective on the firms they pick to run their money.
Fund manager and custodian State Street, that works for a number of sovereign wealth funds, surveyed 37 of these funds –- all holding more than $3bn. It found that the largest of them generally outsource around 25% to 30% of their capital to outside managers. Of the remainder, the smaller funds tend to outsource even more…………………………………..Full Article: Source

Posted on 14 January 2010 by VRS |  Email |Print

From Upstreamonline.com: US fund company State Street Global Advisors said today that it had identified 37 major sovereign wealth funds across the world worth $3 trillion, of which more than two-thirds came from oil and gas interests.
All of the 37 had at least $3 billion in assets and eight had more than $100 bilion, it said. SSGA said its study of the companies, many of which it does business with, showed about 70% of the wealth held by the state-sponsored funds came from oil and gas revenues. Only 13 of the 37 SWFs were not based on commodity wealth…………………………………..Full Article: Source

Posted on 14 January 2010 by VRS |  Email |Print

From Xinhua: China Investment Corporation (CIC), the nation’s 300 billion U.S. dollars sovereign wealth fund, may gain more than 10 percent from its investments last year on the back of the global financial market and economic stability, a source close to the fund said.

“Though the total financial return is not yet fixed, the fund expects to report an annual return better than last year,” said the source, speaking on condition of anonymity…………………………………..Full Article: Source

Posted on 14 January 2010 by VRS |  Email |Print

From Chinadaily.com.cn: China’s sovereign wealth fund China Investment Corporation (CIC) is now considering investing in US high speed trains, Shanghai Securities News reported.

A source was quoted as saying that CIC made big profit last year due to the global economic recovery and rebounding of the financial market, so the company hopes to expand its business in 2010…………………………………..Full Article: Source

Posted on 14 January 2010 by VRS |  Email |Print

From AFP: China’s sovereign wealth fund could earn more than 10 percent from its investments for 2009, up from 6.8 percent for the previous year, state media reported Wednesday.

China Investment Corp (CIC)’s holdings improved as the global economy and financial markets showed signs of recovery, the official Shanghai Securities News reported, citing an unnamed source…………………………………..Full Article: Source

Posted on 14 January 2010 by VRS |  Email |Print

From Themoscowtimes.com: Money from the National Welfare Fund will be used to finance Vneshekonombank’s infrastructure projects, an arrangement that is profitable for the Finance Ministry and the state corporation but also carries significant risk.

In December, the ministry closed ahead of schedule a 175 billion ruble ($5.9 billion) deposit at VEB — which the state corporation received in October 2008 to support the stock market — and opened a foreign currency deposit…………………………………..Full Article: Source

Posted on 14 January 2010 by VRS |  Email |Print

From Foxbusiness.com: Kazakhmys PLC said Wednesday it signed a further facility of $200 million on Tuesday, relating to the potential development of several existing mines. Facility is further to its $2.7 billion unsecured loan facility from the China Development Bank Corporation and Joint Stock Company Sovereign Wealth Fund Samruk-Kazyna.
-Facility Agreements were signed with Samruk for $2.1 billion of the allocated funds, to be made available for the Boschekul and Bozymchak projects…………………………………..Full Article: Source

Posted on 14 January 2010 by VRS |  Email |Print

From Asiaone.com: The New York apartment complex that proved an ill-fated investment for the Government of Singapore Investment Corporation (GIC) may face foreclosure after its owners defaulted on a debt payment last Friday.

Some of the debt holders are now demanding payment within 10 days from the owners of Stuyvesant Town and Peter Cooper Village in Manhattan - the first step towards foreclosure, according to a Bloomberg report yesterday…………………………………..Full Article: Source

Posted on 14 January 2010 by VRS |  Email |Print

From Temasekreview.com: A monkey throwing darts at the share pages of the Financial Times could have made bucket loads of cash over the last year. But Singapore’s super-smart sovereign wealth funds, which lost billions of dollars by investing in Western banks at the height of the bubble, seem to be having renewed difficulties even while every other Joe is lining their pockets.
The estimated $675 million that the Government of Singapore Investment Corporation (GIC) appears to have lost on a bad property investment in New York is arguably the least of Singapore’s overseas investment problems…………………………………..Full Article: Source

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