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Sovereign Wealth Funds Briefing 19.Feb 2010

Posted on 19 February 2010 by VRS |  Email |Print

From Reuters: Kazakh sovereign welfare fund Samruk-Kazyna plans to borrow up to $1 billion from abroad this year to finance large industrial projects, Chief Executive Kairat Kelimbetov said on Thursday.

“We will watch the markets and we plan to raise up to $1 billion,” Kelimbetov told reporters……………………………………Full Article: Source

Posted on 19 February 2010 by VRS |  Email |Print

From Thestandard.com.hk: As global economies are starting to recover, China Investment Corp - the mainland’s sovereign wealth fund - is continuing its expansion overseas by agreeing to invest a combined US$1.5 billion (HK$11.7 billion) in the private equity secondary market.

CIC will open custom accounts with Lexington Partners, Goldman Sachs and Pantheon Ventures, which each gained mandates to manage US$500 million for the sovereign fund in special accounts…………………………………..Full Article: Source

Posted on 19 February 2010 by VRS |  Email |Print

From WSJ: China’s $300 billion sovereign-wealth fund, China Investment Corp., has mandated three managers, including Goldman Sachs Group Inc., to invest $1.5 billion in the private-equity secondary market, a person familiar with the situation said.

The mandate by CIC to invest in secondary private equity—the sale by a private-equity fund of a holding to another private-equity fund—was given to the three managers late last year, and is part of CIC’s efforts to diversify its investment portfolio, the person said……………………………………Full Article: Source

Posted on 19 February 2010 by VRS |  Email |Print

From Nytimes.com: After a year of buying stakes in many of the most well-known listed companies in the United States, China Investment Corp. is turning its attention to private equity deals.
The sovereign wealth fund is said to have set aside $1.5 billion for the secondary market, taking accounts with three buyout shops, the newspaper reports……………………………………Full Article: Source

Posted on 19 February 2010 by VRS |  Email |Print

From Temasekreview.com: Transparency International (TI) publishes an annual Corruption Perceptions Index (CPI) according to “the degree to which corruption is perceived to exist among public officials and politicians”.

Corruption is best described as “the abuse of entrusted power for private gain”. The maximum score or index is 10 and a country with a high score is “perceived” as being least corrupt. In 2009, Singapore was placed No. 3 after New Zealand and Demark with an index of 9.2……………………………………Full Article: Source

Posted on 19 February 2010 by VRS |  Email |Print

From Smallcapinvestor.com: It seems like every financial journal or publication has been extolling the benefits of gold over the last year. Sometimes widespread acceptance of a trend is a sure sign of a bubble waiting to pop. But that’s not the case with the precious metal right now, especially if you play the trend by investing in junior gold miners.

It’s true that gold miners stand to make big profits if the price of gold continues to increase from its current price of $1,120 an ounce. But even if it doesn’t, these little companies still maintain big margins that ultimately trickle down to earnings. That’s because their gold recovery costs are essentially fixed - everything above those costs is pure gravy……………………………………Full Article: Source

Posted on 19 February 2010 by VRS |  Email |Print

From Rnzi.com: Papua New Guinea’s Institute of National Affairs says it’s essential that a well-designed sovereign wealth fund be set up to manage projected revenue from PNG’s Liquified Natural Gas project.

This follows a comment from the head of the United Nations Development Programme that the organisation wants to help PNG establish the best sovereign fund it can so that the money is tied up for future generations……………………………………Full Article: Source

Posted on 19 February 2010 by VRS |  Email |Print

From Gazeta.kz: The National Welfare Fund Samruk-Kazyna developed the special mechanism of rotation in the regions of Bolashak graduates. The chairman of the board of the fund, Kayrat Kelimbetov, informed during the conference Management of Human Resources, the agency reports.

“The special mechanism of rotation in the regions will be used in regards to the young experts including, trained abroad and under the Bolashak program,” K. Kelimbetov informed……………………………………Full Article: Source

Posted on 19 February 2010 by VRS |  Email |Print

From Juneauempire.com: An Alaska senator wants to guarantee a Permanent Fund Dividend this year in case an obscure state law blocks payments because of stock market losses in recent years.

Dividends are paid only from investment earnings, which accumulate in the fund’s “earnings reserve” account every year. In years of losses, that reserve account can go down, which is what happened recently…………………………………..Full Article: Source

Posted on 19 February 2010 by VRS |  Email |Print

From AP: A decline in China’s declared holdings of U.S. Treasury bills comes as it is trying to diversify its foreign assets. But analysts say Washington’s debt is still the only asset big enough to absorb the trade-fueled flood of cash Beijing needs to invest, and it might be adding to its hoard with secret purchases through banks abroad.

A U.S. government report this week showed Chinese holdings of Treasury bills fell by $34 billion in December……………………………………Full Article: Source

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