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Sovereign Wealth Funds Briefing 21.Jan 2010

Posted on 21 January 2010 by VRS |  Email |Print

From Euromoney.com: It was a nail-biting year for sovereign wealth funds in 2009. With the price of oil, currency movements, and exposure to financials and real estate to worry about, many funds were in a state of paralysis in the first half of the year.
Only $3.5 billion was invested between April and June as equity markets rallied, the lowest quarterly level since the last three months of 2004……………………………….Full Article: Source

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Posted on 21 January 2010 by VRS |  Email |Print

From WSJ: China’s $300 billion sovereign-wealth fund will focus this year on investing in emerging markets, particularly Asian ones, where opportunities are more plentiful than elsewhere, its chairman said Wednesday.

China Investment Corp. has ramped up its investments over the past year, deploying tens of billions of dollars into global markets hoping to catch the upside in a global economic recovery………………………………Full Article: Source

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Posted on 21 January 2010 by VRS |  Email |Print

From Reuters: The head of sovereign wealth fund China Investment Corp (CIC) said capital flows into emerging markets were adding pressure on governments but said it was still keen to invest more in Asia and Latin America.

“At present, global liquidity is a little bit excessive,” CIC Chariman Lou Jiwei said at the Asia Financial Forum in Hong Kong on Wednesday……………………………….Full Article: Source

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Posted on 21 January 2010 by VRS |  Email |Print

From Reuters: The head of sovereign wealth fund China Investment Corp (CIC), Lou Jiwei, said he expects the U.S. dollar to decline with an economic recovery in the United States.
So far, however, he said he did not see much room for the dollar to fall……………………………….Full Article: Source

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Posted on 21 January 2010 by VRS |  Email |Print

From Bloomberg: China Investment Corp., the nation’s sovereign wealth fund, has had “early” talks for direct investments in Brazil and Mexico, Chairman Lou Jiwei said.

The sovereign wealth fund plans to increase direct investments this year and prioritizes such investments in developing markets, Lou said at a financial forum in Hong Kong today. CIC plans to be an “active, minority” shareholder in companies, instead of being involved in day-to-day operations, he said……………………………….Full Article: Source

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Posted on 21 January 2010 by VRS |  Email |Print

From Chinaeconomicreview.com: China Investment Corp, the country’s US$300 million sovereign wealth fund, has asked the US to ease the scrutiny of Chinese government organs investing there.
CIC chairman Lou Jiwei said the fund has recently finalized a deal to buy a minority stake in an American electricity firm and that the deal is subject to approval by four different US departments……………………………….Full Article: Source

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Posted on 21 January 2010 by VRS |  Email |Print

From Reuters: Two of Asia’s most influential sovereign funds are steering clear of a $2.6 billion Hong Kong IPO by UC RUSAL, the world’s biggest aluminum maker, leery about high valuations and debt levels.
China Investment Corp (CIC) and Singapore’s Temasek Holdings, which manage a combined $420 billion, were actively wooed by RUSAL, but have given the offering the cold shoulder……………………………….Full Article: Source

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Posted on 21 January 2010 by VRS |  Email |Print

From WSJ: Singapore state investment firm Temasek Holdings is in talks to buy a stake worth $170 million in GMR Infrastructure Ltd.’s energy unit, a person familiar with the situation said Wednesday. “Temasek is one of around five companies that have shown interest in GMR Energy,” the person, who declined to be named, said.
“They’ve been talking since last year.”………………………………Full Article: Source

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Posted on 21 January 2010 by VRS |  Email |Print

From Impactpub.com.au: Travel bookings firm Travelport (formerly Galileo GDS) has booked US$225 million investor ahead of its initial public offering (IPO) in London. The company won the money from the Government of Singapore Investment Corp (GIC), which will take 7.19 per cent of the enlarged group.

The GIC injection values Travelport at around US$3.13 billion……………………………….Full Article: Source

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Posted on 21 January 2010 by VRS |  Email |Print

From Alaskadispatch.com: The Permanent Fund, that $35 billion piggy bank that pays Alaskans an annual dividend, could undergo two historical firsts this year. For the first time ever the balance of the fund’s earnings account might not cover this year’s full dividend, currently estimated by the fund corporation’s projections at $950.
That could change with an upswing in financial markets over the next five months, but the prospect still has fund managers concerned……………………………….Full Article: Source

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Posted on 21 January 2010 by VRS |  Email |Print

From Thenational.ae: Mubadala Development, the strategic investment group owned by the Abu Dhabi Government, launched a joint venture with Occidental Petroleum and Bahrain’s National Oil and Gas Authority (NOGA) yesterday.

The venture extends Mubadala’s reach into petroleum concessions across the Middle East and Asia……………………………….Full Article: Source

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