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Sovereign Wealth Funds Briefing 08.Feb 2010

Posted on 08 February 2010 by VRS |  Email |Print

From Bloomberg: Temasek Holdings Pte., Singapore’s state-owned investment company, plans to sell S$1 billion ($704 million) of 10-year bonds to fund operations.

Temasek unit Temasek Financial Ltd. will sell the bonds, which will be issued under the Singapore state-owned investment company’s $10 billion global medium-term note program, Temasek said in an e-mailed statement today. The program limit was doubled on Feb. 3 “to cater for the possibility of future issues,” according to the statement…………………………………Full Article: Source

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Posted on 08 February 2010 by VRS |  Email |Print

From Chinadaily.com.cn: China Investment Corp (CIC), a $300 billion sovereign wealth fund based in Beijing, filed its first quarterly disclosure on US equity holdings, reporting that it owned stocks valued at $9.63 billion as of Dec 31.

The fund last Friday filed what’s known as a Form 13F, which the US Securities and Exchange Commission requires from all institutional investment managers with more than $100 million of US equities. Other sovereign wealth funds have begun filing such reports amid calls for more disclosure…………………………………Full Article: Source

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Posted on 08 February 2010 by VRS |  Email |Print

From Roubini.com: Last week, the China Investment Corporation (CIC), China’s sovereign wealth fund, filed what seems to be its first ever 13-F disclosure with the U.S. Securities and Exchange Commission (SEC).
The move is significant both from a financial disclosure perspective, showing as it does the CIC’s continued commitment to disclose information about its portfolio in line with other institutional investors (13-F’s are required of investment managers managing over US$100 million in assets, and report their U.S. long positions, including options and shares), but also because it allows a glimpse into a part of the Chinese government’s foreign asset portfolio…………………………………Full Article: Source

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Posted on 08 February 2010 by VRS |  Email |Print

From Temasekreview.com: Government of Singapore Investment Corporation (GIC)’s S$14 billion dollar investment in giant Swiss bank UBS appeared to be in serious jeopardy following fresh concerns that UBS may face collapse if it loses its license in the United States after a protracted tax dispute.

GIC made its initial investment of S$14 billion to buy a 9 per cent stake in UBS on the same day that it was hit by a S$14 billion in losses from the sub-prime mortgage crisis in the United States in December 2007…………………………………Full Article: Source

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Posted on 08 February 2010 by VRS |  Email |Print

From Maktoob.com: Kuwait Investment Authority, or KIA, the country’s sovereign wealth fund, plans to pump the remaining 1.1 billion Kuwaiti dinars ($3.8 billion) in a fund created at the end of 2008 to shore up the bourse, Kuwait’s Al Anbaa reports Sunday, citing sources familiar with the matter.

The KIA will inject the remaining investments in the next couple of days, having pumped already KWD400 million into the bourse, the paper reports…………………………………Full Article: Source

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Posted on 08 February 2010 by VRS |  Email |Print

From Reuters: Little Diomede, a remote U.S. island in the Bering straits only 2.5 miles from Russia, has 129 people living in a traditional Ingalikmiut Eskimo village. Little Diomede villagerberings are part of tens of thousands of qualified Alaskans who receive dividends from regional wealth fund Alaska Permanent Fund.

At least 25 percent of resource-related revenues are placed in the fund, which invests its assets of over $34 billion in a diversified portfolio of public and private assets. Currently their asset allocation consists of 38 percent in stocks, 22 percent in bonds, 12 percent in real estate, 6 percent in private equity and 2 percent in cash…………………………………Full Article: Source

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Posted on 08 February 2010 by VRS |  Email |Print

From Reuters: The closing size was bigger than the firm’s original target of $750 million and the fund, named CITIC Capital China Partners II, will target buyout and privatisation investments in Chinese companies driven by domestic economic growth, particularly in the consumer products and manufacturing sectors.
CITIC Capital is owned by China Investment Corp, China’s sovereign wealth fund, CITIC International Financial Holdings Limited and CITIC Pacific Ltd………………………………..Full Article: Source

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Posted on 08 February 2010 by VRS |  Email |Print

From Omantribune.com: Abu Dhabi Investment Authority (Adia), the world’s largest sovereign wealth fund, said on Friday it had bought a stake in Britain’s Gatwick Airport as it increased its exposure to infrastructure assets.

Sovereign wealth funds are emerging as major investors in infrastructure, alongside pension funds and insurance companies, although opportunities for them can be limited as many governments consider infrastructure to be a strategic sector…………………………………Full Article: Source

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Posted on 08 February 2010 by VRS |  Email |Print

From Financialexpress.com: For a while, during the meetings of the G-20 in the peak of the crisis, it seemed that there would be genuine international coordination to reduce systemic risk in the world economy. While the G-20 did admirably in coordinating stimulus, its impact elsewhere has been more limited.
And as Greece leads a set of small European economies towards a possible sovereign debt crisis that could trigger another round of global financial uncertainty, the question to ask is ‘where is the IMF?’ ………………………………..Full Article: Source

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Posted on 08 February 2010 by VRS |  Email |Print

From Themoscowtimes.com: Vneshekonombank made 100 billion rubles ($3.3 billion) from investing money from one of the country’s two sovereign wealth funds, chief executive Vladimir Dmitriyev said, RIA-Novosti reported.

The bank got 175 billion rubles from the National Welfare Fund in 2008 and will use the returns to support mortgage lending, infrastructure projects and “investors,” Dmitriyev told President Dmitry Medvedev…………………………………Full Article: Source

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Posted on 08 February 2010 by VRS |  Email |Print

From Dow Jones: Egypt’s foreign reserves registered $34.2 billion in January, edging up from a month earlier, according to new data published on the Central Bank of Egypt, or CBE, Web site.

The January figure was slightly higher than the $34.1 billion in December. January is the ninth consecutive month-on-month rise…………………………………Full Article: Source

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Posted on 08 February 2010 by VRS |  Email |Print

From Seekingalpha.com: The People’s Bank fo China continues to amass huge levels of foreign currency reserves with little attention paid. Those reserves totaled $2.4 trillion as of December 2009, which is larger than the GDP of Italy, the world’s 7th largest economy.
China’s reserves are growing at about $400 billion per year, roughly adding Norway’s economy to their reserve surplus every year…………………………………Full Article: Source

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