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Sovereign Wealth Funds Briefing 05.Feb 2010

Posted on 05 February 2010 by VRS |  Email |Print

From Kippreport.com: Sovereign wealth funds (SWFs) have total assets of an estimated $3 trillion, and - despite having gained a reputation for being secretive and opaque - certainly garner their fair share of attention from the markets and media.

This scrutiny is likely to increase over the next five years. According to a recent report by the Independent Treasury Economic Model Club, SWFs’ total assets are forecast to grow by 10-15 percent a year to $8 trillion by 2015. Currently, equities account for about half of the funds’ portfolios: SWFs - run by the likes of Abu Dhabi, Norway, Kuwait, Singapore and China - own about 4 percent of the world’s listed companies………………………………..Full Article: Source

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Posted on 05 February 2010 by VRS |  Email |Print

From Timesonline.co.uk: The world’s largest sovereign wealth fund is to buy a £125 million stake in Gatwick as the airport’s new owner seeks to bring in additional investors.

The Abu Dhabi Investment Authority (ADIA), which is thought to have more than $600 billion in assets, will buy a 15 per cent stake in the UK’s second-largest airport. ADIA’s purchase comes days after the South Korean National Pension Service bought a 12 per cent stake in Gatwick for £100 million………………………………..Full Article: Source

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Posted on 05 February 2010 by VRS |  Email |Print

From Reuters: Bahrain’s sovereign wealth fund Mumtalakat said it would transfer ownership of the country’s loss-making national carrier Gulf Air to the Bahraini government.

“Bahrain Mumtalakat Holding Company, the investment company for the Kingdom of Bahrain, announced today its intention to divest its interests in Gulf Air, Bahrain’s national carrier, to the Bahraini government,” the fund said in a statement………………………………..Full Article: Source

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Posted on 05 February 2010 by VRS |  Email |Print

From Thepeninsulaqatar.com: Qatari Diar Real Estate Investment Company yesterday finalised negotiations over a strategic partnership with French public works group Vinci, the company said in a statement.

After a round of exclusive negotiations that began on August 31, 2009, Diar has agreed to the wholesale transfer of Cegelec, a technological-solutions firm, in exchange for 31.5 million shares in Vinci………………………………..Full Article: Source

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Posted on 05 February 2010 by VRS |  Email |Print

From Civil.ge: Chief executive of investment arm of UAE’s Ras Al Khaimah emirate has denied that RAKIA or any of its affiliate entities bought shares in Imedi television station, suggesting that confusion over the company’s alleged links to Tbilisi-based TV station was triggered by the name of a company which actually owns majority shares in the station.

“We have nothing to do with that… Why should I buy a TV station in Georgia? It’s a small country. What would I need with a TV station there?” Dr Khater Massaad, the chief executive of Ras Al Khaimah Investment Authority (RAKIA), said………………………………..Full Article: Source

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Posted on 05 February 2010 by VRS |  Email |Print

From Nytimes.com: The China Investment Corporation, the sovereign wealth fund that is investing some of the country’s huge foreign currency reserves, has won approval from a British regulator to buy a stake in the private equity firm Apax Partners, an Apax spokesman said Thursday.

The Financial Services Authority approved the sale of the stake last week, the Apax spokesman, Ben Harding, said………………………………..Full Article: Source

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Posted on 05 February 2010 by VRS |  Email |Print

From Economist.com: Take the China Investment Corporation (CIC), China’s sovereign-wealth fund, which was founded in 2007. For fund managers and companies in search of money, CIC’s chief investment officer, Gao Xiqing, has become highly sought-after.
But just how much autonomy Mr Gao has is uncertain. CIC’s chief executive, Lou Jiwei, told a conference in Hong Kong on January 20th that two things would improve his organisation: more freedom from foreign authorities to make investments, which would doubtless be fostered by his second wish, more freedom to manage itself………………………………..Full Article: Source

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Posted on 05 February 2010 by VRS |  Email |Print

From Reuters: Italy’s Treasury has not received an expression of interest in its stake in utility Enel SpA from Chinese sovereign wealth fund CIC and has no intention of selling its holding, a Treasury source said on Thursday.

Newspapers in China and Italy have reported in recent days CIC could be interested in a stake in Enel and its Enel Green Power subsidiary and executives from the Chinese fund have held meetings in Italy this week………………………………..Full Article: Source

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Posted on 05 February 2010 by VRS |  Email |Print

From MNI: Japan’s foreign reserves rose to $1.053 trillion at the end of January from $1.049 trillion at end-December but were below the record high of $1.074 trillion marked at end-November 2009, the Ministry of Finance said on Friday.

The country’s forex reserves remain the second largest in the world, next to China’s, which is estimated at $2.40 trillion at the end of the final quarter of 2009………………………………..Full Article: Source

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