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Sovereign Wealth Funds Briefing 27.Jan 2010

Posted on 27 January 2010 by VRS |  Email |Print

From Bloomberg: China’s $300 billion sovereign wealth fund is considering new investments in resource-related companies after bets on commodities producers from the U.S. to Kazakhstan paid off in 2009.

China Investment Corp. increased spending on energy and minerals assets last year to profit as the global economy recovers. The Beijing-based fund avoided the worst of the credit crunch in its first full year in 2008 and may have had a return of more than 10 percent in 2009, said London-based Jan Randolph, director of sovereign risk, analysis and forecasting at IHS Global Insight………………….Full Article: Source

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Posted on 27 January 2010 by VRS |  Email |Print

From Reuters: Ghana is considering setting up a sovereign wealth fund to channel surplus revenues from oil production, which are due to start rolling in later this year, Finance Minister Kwabena Duffuor said.

Ghana is the latest African state, alongside Nigeria, Angola and Tunisia, to study ways to ringfence energy windfalls for future generations………………….Full Article: Source

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Posted on 27 January 2010 by VRS |  Email |Print

From Reuters: Greece is wooing China Wealth Fund to buy up to 25 billion euros ($35 billion) of its bonds in its efforts to avert one of Europe’s biggest debt crises, the Financial Times and the Wall Street Journal reported on Wednesday.

U.S. investment bank Goldman Sachs has been promoting a Greek bond sale to Beijing and the State Administration of Foreign Exchange (SAFE), which manages China’s $2.4 trillion foreign exchange reserves, the FT reported, citing people familiar with the issue………………….Full Article: Source

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Posted on 27 January 2010 by VRS |  Email |Print

From Energia.gr: The assets of energy-rich Azerbaijan ’s state oil fund rose by nearly a third in 2009 to $14.8 billion, the fund said in a statement Tuesday.

But after nearly quadrupling its assets in 2008, the sovereign wealth fund’s growth slowed considerably to 32.8% amid the global economic downturn last year………………….Full Article: Source

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Posted on 27 January 2010 by VRS |  Email |Print

From Abc.az: The State Oil Fund of Azerbaijan is preparing the proposals for changes in management with its assets.

SOFAZ executive director Shahmar Movsumov says that the Fund’s investment program will be considered anew………………….Full Article: Source

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Posted on 27 January 2010 by VRS |  Email |Print

From Reuters: Libya is among the main backers of Russian aluminium giant UC RUSAL’s $2.2 billion stock float in Hong Kong , sources close to the listing said on Tuesday, as Tripoli looks further afield to invest its oil wealth.

Libya’s $65 billion sovereign wealth fund has bought a stake of around 1 percent in UC RUSAL, the sources said. The two sides had agreed to explore construction of an energy and aluminium complex in Libya before the financial crisis hit in late 2008………………….Full Article: Source

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Posted on 27 January 2010 by VRS |  Email |Print

From Itar-Tass: The Russian government will disburse 1,142 billion roubles (USD 1 = RUB 30.09) from the Reserve Fund to cover the federal budget deficit in the first half of the current year, the Prime Tass economic news agency said on Monday, quoting an instruction signed by Russian Prime Minister Vladimir Putin.

The text of the instruction posted on the government’s website, Prime Tass said………………….Full Article: Source

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Posted on 27 January 2010 by VRS |  Email |Print

From Themalaysianinsider.com: The government has renewed the contract of Tan Sri Datuk Azman Mokhtar, managing director of its investment arm, Khazanah Nasional Berhad for another three year term.

Azman’s contract was to have expired on 31 May 2010 but it was renewed by the board of directors on December 7 last year, Khazanah said…………………Full Article: Source

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Posted on 27 January 2010 by VRS |  Email |Print

From Calgaryherald.com: Indonesia plans a $1 billion U.S. green investment fund this year to drive infrastructure developments that aid growth and help cut greenhouse gas emissions, a finance ministry official said on Tuesday.

Indonesia has promised to slash its emissions by at least 26 percent from business as usual levels by 2020 but recently re-elected President Susilo Bambang Yudhoyono has also vowed to boost economic growth to 7 percent or more by 2014………………….Full Article: Source

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Posted on 27 January 2010 by VRS |  Email |Print

From Globalpensions.com: The New Zealand Superannuation Fund said today it hired Milford Asset Management to manage an active domestic equities mandate.
The scheme did not provide details about the size of the mandate but said the portfolio would be managed against the NZX50 Capped index…………………Full Article: Source

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Posted on 27 January 2010 by VRS |  Email |Print

From Businessweek.com: China Investment Corp., the nation’s sovereign wealth fund, has spent more than $4 billion on energy and resources investments since September to hedge against inflation and meet the needs of the world’s fasting-growing major economy.
South Korea’s National Pension Service, the nation’s biggest investor, plans to double its international assets to 15 percent of its total holdings by 2015, it said in July………………….Full Article: Source

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