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Sovereign Wealth Funds Briefing 09.Feb 2010

Posted on 09 February 2010 by VRS |  Email |Print

From Reuters: China Investment Corp (CIC) will manage more of its investments in developed markets in house this year, the head of the $300 billion sovereign wealth fund said in remarks carried by official media this morning.
Lou Jiwei, the chairman of CIC, said the fund would steadily accelerate its overseas investments in 2010, the China Securities Journal reported, citing an article he published on Monday. It did not say where the article appeared…………………………………Full Article: Source

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Posted on 09 February 2010 by VRS |  Email |Print

From Nytimes.com: Flush with cash despite the global economic downturn, China’s sovereign wealth fund quietly snapped up more than $9 billion worth of shares last year in some of the biggest American corporations, including Morgan Stanley, Bank of America and Citigroup.

Although most of the stakes were small, China Investment Corp., the government’s $300 billion investment fund, now owns stock in some of the best-known American brands, including Apple, Coca-Cola, Johnson & Johnson, Motorola and Visa, David Barboza and Keith Bradsher report in The New York Times…………………………………Full Article: Source

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Posted on 09 February 2010 by VRS |  Email |Print

From Reuters: China Investment Corp, the country’s $300 billion sovereign wealth fund, has made its biggest U.S. equity bets in natural resources and financial stocks.

A filing with the U.S. Securities and Exchange Commission detailed equity holdings in U.S. listed companies and funds worth $9.63 billion at the end of 2009…………………………………Full Article: Source

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Posted on 09 February 2010 by VRS |  Email |Print

From WSj: So much for the big bad wolf. Detailing its U.S. stock holdings, China Investment Corp. has revealed itself to be more like Little Red Riding Hood’s grandmother.

Much of the $9.6 billion CIC holds in U.S. equities was already well-documented: Stakes in Teck Resources and Morgan Stanley accounted for half of the amount disclosed by value, as of December…………………………………Full Article: Source

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Posted on 09 February 2010 by VRS |  Email |Print

From AFP: State-linked Singapore investment firm Temasek Holdings said Monday it was planning a bond offering worth one billion Singapore dollars (704 million US) as part of its capital-raising programme.

The bonds are due in 2020 and will be issued by its wholly-owned subsidiary Temasek Financial, it said in a statement…………………………………Full Article: Source

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Posted on 09 February 2010 by VRS |  Email |Print

From Reuters: Singapore state investor Temasek priced its S$1 billion ($703.7 million) 10-year bond at 40 basis points above the Singapore dollar swap offered rate, confirming an earlier Reuters report.

The price, which translates to 3.265 percent per year, was at the tighter end of the initial guidance of 40-45 basis points over swap, indicating strong investor demand for AAA-rated issues, banking sources told Reuters earlier on Monday…………………………………Full Article: Source

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Posted on 09 February 2010 by VRS |  Email |Print

From Tradearabia.com: Kingdom Holding Company said Asian investment group Temasek Holdings is set to invest $75 million into Pan-African Investment Partners II Limited (PAIP II), a fund managed by Kingdom Zephyr Africa Management Company (KZAM).

KZAM, a leading pan-African private equity firm, is a joint venture between KHC (which owns 75 per cent) and New York-based asset management firm Zephyr Management.......................................Full Article: Source

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Posted on 09 February 2010 by VRS |  Email |Print

From Reuters: A promoter of Sobha Developers Ltd sold a 4 percent stake via a block deal to Aranda Investments, a unit of Singapore’s Temasek Holdings, a top official said.

“Aranda Investments, an affiliate of Temasek Holdings, the investment arm of Singapore government, has purchased shares in a block deal today. This is the first investment by the company in the Indian real estate space,” J.C. Sharma, managing director, told Reuters over the telephone…………………………………Full Article: Source

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Posted on 09 February 2010 by VRS |  Email |Print

From Temasekreview.com: It was mid-December 2007 [A] when the Government of Singapore Investment Corp. (GIC) made a whooping 11 billion Swiss francs (S$13.8 billion) investment in UBS.

There was news earlier in the summer of 2007 about how the US housing market was showing signs of slowing down, but some of the major financial institutions were still raking in record profits and numerous equity indices were nearing their all-time highs…………………………………Full Article: Source

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Posted on 09 February 2010 by VRS |  Email |Print

From Temasekreview.com: Singapore’s sovereign wealth fund Government of Singapore Investment Corporation (GIC) may have suffered a paper loss of more than SGD $10 billion dollars in its investment in Swiss bank UBS as of now.

In December 2007, GIC agreed to invest 11 billion francs in mandatory convertible notes issued by UBS. The mandatory conversion feature of the notes held by GIC means that they must be exchanged for UBS shares by the time they mature on March 5, 2010 – two years after the notes were first issued…………………………………Full Article: Source

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Posted on 09 February 2010 by VRS |  Email |Print

From Alwatan.com.kw: Local banks have delivered their suggestions to the Kuwait Investment Authority (KIA) on the establishing of the Financial Stability Fund. According to reliable source, the suggestions were delivered after being studied thoroughly as an idea was suggested by Kuwait’’s Gulf Bank during a meeting held on the mid of January that included all chairmen of local banks.
The source said that KIA is now conducting a comprehensive study on the suggestion of establishing this fund at a capital exceeds three billion Kuwaiti dinars, where KIA owns 50 percent of its shares…………………………………Full Article: Source

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Posted on 09 February 2010 by VRS |  Email |Print

From Constructionrussia.com: The Russian government is to consider using money from the National Welfare Fund to finance the Agency for Housing Mortgage Lending (the AIZhK). €958m could be provided. In addition, this year the agency is to receive another €5.9bn from the Federal Pension Fund and Vnesheconombank.
It is anticipated that the additional funds provided to the agency will result in a reduction in the average mortgage interest rate to 10% from the current 14%…………………………………Full Article: Source

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Posted on 09 February 2010 by VRS |  Email |Print

From Ameinfo.com: Abu Dhabi’s Mubadala Development Co plans to approach banks for a $1.2bn project finance loan to fund the development of the Sowwah Square project on the capital’s Sowwah Island, Meed has reported.
Once developed, the island will contain the Abu Dhabi Securities Exchange headquarters, several office towers and two five-star hotels…………………………………Full Article: Source

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Posted on 09 February 2010 by VRS |  Email |Print

From 234next.com: Nigeria’s windfall oil savings in its excess crude account have fallen to around $6.2 billion as the government spent to counter the impact of a global downturn, junior finance minister Remi Babalola said on Monday.

Finance Minister Mansur Muhtar said in October the oil savings, which are supposed to cushion the OPEC member from the impact of any decline in world oil prices, stood at around $7 billion…………………………………Full Article: Source

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Posted on 09 February 2010 by VRS |  Email |Print

From Thepeninsulaqatar.com: Iran has established an energy fund backed by the Central Bank and other Iranian banks to help finance investments in the sector, Oil Minister Massoud Mirkazemi said yesterday.

“The National Energy Fund, with the help of the resources of four local banks and the Central Bank, has been established to help finance major parts of the oil industry’s activities,” the official IRNA news agency quoted Mirkazemi as saying…………………………………Full Article: Source

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Posted on 09 February 2010 by VRS |  Email |Print

From News.gov.hk: Hong Kong’s official foreign currency reserve assets rose to US$257.1 billion in January, up US$1.3 billion on December, the Monetary Authority says.
Including unsettled forward contracts, the foreign currency reserve assets also stood at US$257.1 billion, up US$1.3 billion on December…………………………………Full Article: Source

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