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Sovereign Wealth Funds Briefing 29.Jan 2010

Posted on 29 January 2010 by VRS |  Email |Print

From Reuters: Last year, with most of the world mired in the “Great Recession,” those outsized sovereign wealth funds amassed by governments from the likes of Abu Dhabi, Singapore and China went missing in action. Now they’re back, and ready to reassert themselves.

With some large funds expected to turn more activist, the demands they make as shareholders of global corporations and banks have the potential to drown out many other voices………………………………..Full Article: Source

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Posted on 29 January 2010 by VRS |  Email |Print

From Livemint.com: As India invests its substantial reserves in somewhat marginal securities, the question that inevitably comes to mind is whether a small fraction of this ought to be diversified into a more strategic form through a sovereign wealth fund.
One of the great economic changes of our age has been the dramatic surge in the external accounts of developing nations. Since the early part of this decade, developing nations have run giant surpluses of at least $500 billion (Rs23 trillion) a year………………………………..Full Article: Source

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Posted on 29 January 2010 by VRS |  Email |Print

From Reuters: Bahrain’s sovereign wealth fund, which invests mostly at home, plans to diversify away from private equity projects and into stocks and bonds, its CEO said on Thursday.

Talal Al Zain also told Reuters that Mumtalakat expects to receive a credit rating this year, which would allow it to tap capital markets for funding, including Islamic bonds………………………………..Full Article: Source

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Posted on 29 January 2010 by VRS |  Email |Print

From Ghana.gov.gh: Ghana is considering setting up a sovereign wealth fund to channel surplus revenues from oil production, which are due to start rolling later this year, Finance Minister Kwabena Duffuor has said.
“We have held a couple of meetings, already it’s something we’ re seriously working towards and we hope to put the proposals before Cabinet in about a month,” Dr. Duffuor said in an interview with Reuters………………………………..Full Article: Source

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Posted on 29 January 2010 by VRS |  Email |Print

From Maktoob.com: The Qatar Investment Authority, or QIA, has acquired shares in Al Rayan Bank last year for 191 million Qatari riyals ($52.5 million), Doha-based Al Arab daily reports Thursday citing the bank’s financial statements.

This is part of Qatar’s sovereign wealth fund’s plan to acquire 10% of the country’s largest shariah-compliant bank, the paper reports, adding that it couldn’t know whether the shares bought in 2009 cover the full 10%-stake QIA pledged to acquire………………………………..Full Article: Source

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Posted on 29 January 2010 by VRS |  Email |Print

From Bloomberg: China Investment Corp., the nation’s $300 billion sovereign wealth fund, posted a 2.1 percent loss in 2008 as slumping shares eroded the value of its $5.6 billion investment in Morgan Stanley and its $3 billion stake in Blackstone Group LP, manager of the world’s biggest buyout fund, both acquired during its first year in 2007.

The Beijing-based fund 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 29 January 2010 by VRS |  Email |Print

From Bloomberg: SouthGobi Energy Resources Ltd., the Canada-listed mining company backed by China’s sovereign wealth fund, fell in its Hong Kong trading debut, two days after the world’s largest aluminum producer slumped on listing.

The Vancouver-based coal producer led declines among Chinese miners of the fuel, dropping as much as 16 percent after opening at HK$123.50. The stock was at HK$112.20 at 11:54 a.m. local time. SouthGobi had originally priced the shares at HK$133.50. The Hang Seng Index was down 0.2 percent………………………………..Full Article: Source

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Posted on 29 January 2010 by VRS |  Email |Print

From Businessinsider.com: China’s massive investment fund China Investment Corp (CIC) is preparing for an all out commodities offensive on Brazil and Mexico.

They have already pumped over $10 billion into commodity-related companies during 2009, and that’s just the tip of the iceberg:……………………………….Full Article: Source

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Posted on 29 January 2010 by VRS |  Email |Print

From Bloomberg: Invest AD, the fund manager owned by Abu Dhabi Investment Council, is in talks to form partnerships with institutions in China and Southeast Asia as it seeks to attract investors to the Middle East and Africa. Invest AD was created as Abu Dhabi Investment Company in 1977.

The Abu Dhabi-based fund manager is looking to team up with asset managers including units of “large banks,” and “quasi sovereign and sovereign names” that also offer it access to investment opportunities in Asia, Mohammed Al Hashemi, chief executive officer of Invest AD’s investment management division, said in an interview………………………………..Full Article: Source

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Posted on 29 January 2010 by VRS |  Email |Print

From Nzherald.co.nz: The New Zealand Superannuation Fund has a 10.11 per cent stake in Auckland International Airport, according to a notice filed to the NZX yesterday.

The notice was among a number of filings by the fund to reflect the mandating of Milford Asset Management as a manager of some of its investments………………………………..Full Article: Source

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Posted on 29 January 2010 by VRS |  Email |Print

From Vccircle.com: Oman India Investment Fund, a joint initiative of the Omanese and Indian governments, plans to launch the $100-million fund soon. In 2008, the State Bank of India, the largest public sector lender in India, has entered into a memorandum of understanding (MoU) with State General Reserve Fund of Oman in relation to the fund.
The fund proposes to invest in core infrastructure and real estate sectors in both the countries. Both countries have equal contribution to the fund………………………………..Full Article: Source

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Posted on 29 January 2010 by VRS |  Email |Print

From Arabfinance.com: Abu Dhabi has sovereign assets of about $426 billion, one of the world’s largest funds, according to RGE Monitor in New York. Saudi Arabia holds a fund of $358 billion, Qatar $75 billion and Kuwait has about $271 billion.
Saudi Arabia, Qatar and Abu Dhabi are spending $600 billion by the end of 2013 to build roads, railways and new cities while expanding energy and manufacturing………………………………..Full Article: Source

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