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Sovereign Wealth Funds Briefing 02.Mar 2010

Posted on 02 March 2010 by VRS |  Email |Print

From Businessweek.com: Norway gave approval for its $440 billion sovereign wealth fund to invest as much as 5 percent of its value in real estate to increase returns and limit overall risk after record losses in 2008.

“By investing in real estate, we spread the fund’s risk even more,” Finance Minister Sigbjoern Johnsen said in a statement today. “Real estate is the largest asset class after shares and bonds, and these investments fit well with the fund’s investment profile.”……………………………………..Full Article: Source

Posted on 02 March 2010 by VRS |  Email |Print

From Reuters: Assets under management by sovereign wealth funds fell by 3 percent in 2009 to $3.8 trillion although they are set to increase to $5.5 trillion in the next couple of years, a London-based think tank said.

International Financial Services London also said that sovereign investment vehicles, such as pension reserve funds and development funds, held an additional $6.5 trillion, up 13 percent from the previous year………………………………………Full Article: Source

Posted on 02 March 2010 by VRS |  Email |Print

From Pionline.com: Total assets under management at sovereign wealth funds globally are expected to increase 44% to $5.5 trillion by the end of 2012, after having fallen by 3% in 2009 to $3.8 trillion, according to a report published by International Financial Services London.

IFSL, a U.K. financial-services industry organization, estimated that SWFs funded primarily from commodities exports such as oil held about $2.5 trillion in assets as of the year-end 2009………………………………………Full Article: Source

Posted on 02 March 2010 by VRS |  Email |Print

From Globalpensions.com: Assets under management of sovereign wealth funds (SWFs) fell by 3% in 2009 to around US$3.8trn but funds are looking to place a greater number of those assets outside their home country, a report by International Financial Services London (IFSL) revealed.

Assets are expected to rise to $5.5trn by the end of 2012, IFSL said. The trade body said SWFs increasingly eyed foreign markets in 2009, following a “retreat towards domestic markets in the second half of 2008″………………………………………Full Article: Source

Posted on 02 March 2010 by VRS |  Email |Print

From Marketwatch.com: Previously stung by ill-timed investments in the banking sector, sovereign wealth funds picked up the pace of foreign asset investing during the second half of 2009, according to a study published Monday.

International Financial Services London said sovereign wealth funds invested $50 billion in the second half of 2009, mostly in Europe and North America, after investing just $10 billion during the first half of the year………………………………………Full Article: Source

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From Efinancialnews.com: Sovereign wealth funds are avoiding bank stocks despite the sector’s resurgence, preferring industrial and alternative assets as channels for new investment, according to research by International Financial Services London.
The financial services sector accounted for less than a fifth of investments made by SWFs in 2009, a sharp decline from the 45% share they had taken since 2000, according to IFSL, which represents the UK financial services industry………………………………………Full Article: Source

Posted on 02 March 2010 by VRS |  Email |Print

From Globalinvestormagazine.com: Sovereign wealth funds gradually regained their appetite for foreign investments in 2009, having cut-back on cross-border spending for much of 2008, according to a newly published report from International Financial Services London (IFSL), a body promoting UK financial services worldwide.

IFSL’s report Sovereign Wealth Funds 2010 shows that the $10bn invested by SWFs in the first half of 2009 was the slowest start to a year since 2005………………………………………Full Article: Source

Posted on 02 March 2010 by VRS |  Email |Print

From Bloomberg: Australia’s sovereign wealth fund, the Future Fund, is able to form partnerships and make joint offers for listed companies, the Australian Financial Review reported, citing general manager Paul Costello.
The Future Fund last year considered joining two Canadian pension funds in a bid for toll-road owner Transurban Group and remains interested in the company, the newspaper said………………………………………Full Article: Source

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From Gulfnews.com: In 2010, “there will be continuing focus on the sovereign wealth funds, particularly in Qatar and Abu Dhabi, driving the M&A activity”, said Peter Fort, executive director in Morgan Stanley’s Dubai office.
Merger and acquisition activity in the Middle East is expected to recover in 2010, driven by sovereign wealth funds in Abu Dhabi and Qatar, the potential for consolidation in several industries and as companies are forced to restructure………………………………………Full Article: Source

Posted on 02 March 2010 by VRS |  Email |Print

From Chinadaily.com.cn: Nicknamed the second China Investment Corporation (CIC), the new entity will be a domestically oriented sovereign wealth fund set up by SASAC to better manage State-owned assets in the industrial sector, similar to the role of CIC that manages part of the country’s foreign exchange reserve in the financial sector.

The new company is said to have registered capital of 20 billion yuan and initial funding will be from the State-owned assets management budget and dividends paid by the central SOEs to SASAC last year, according to the source. ……………………………………..Full Article: Source

Posted on 02 March 2010 by VRS |  Email |Print

From China Knowledge: The State Council has approved the establishment of a new asset management firm in a bid to supervise the privatization of state-owned enterprises, the Economic Observer reported today.

According to the report, the newly-inaugurated asset management firm is expected to help China’s state-owned enterprises expedite restructuring and consolidation………………………………………Full Article: Source

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From Reuters: Abu Dhabi investment firm Invest AD is seeking to raise $325 million from third-party investors for a $400 million private equity fund that will invest in North Africa and the Middle East (MENA), a senior executive said.
The fund, the second PE fund launched by Invest AD for the MENA region, aims to achieve a net internal rate of return of at least 25 percent, Invest AD’s head of private equity Samir Assaad told the Reuters Private Equity and Hedge Funds Summit………………………………………Full Article: Source

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From Business24-7.ae: Mubadala Aerospace, part of Abu-Dhabi based Mubadala Development Company, is exploring options for acquisition in North America’s Maintenance, Repair and Overhaul (MRO) space, a senior company official said yesterday.

“We are looking at expansion in North America, Asia Pacific, Europe and Middle East. Greenfield project may not be possible in North Amercia, so we could go for an acquisition while in markets like India we may explore greenfield projects,” said Homaid Al Shemmari, Mubadala’s Associate Director Business Development………………………………………Full Article: Source

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From Alertnet.org: Five-year credit default swaps for the Temasek sovereign wealth fund used as a proxy for gauging sovereign risk — are trading at a spread of around 48.5 basis points, the least risky component in the Thomson Reuters Emerging Asia Index which has a weighted average spread of 134.40.
Singapore is widely rated as one of the world’s least corrupt countries, but has been criticised for lack of transparency in some areas, such as press freedom and secrecy in the financial industry………………………………………Full Article: Source

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From Businessweek.com: Axiata Group Bhd., Malaysia’s second-biggest mobile phone operator, rose to a 17-month high after Citigroup Inc. said the company is its “preferred pick”. Kuala Lumpur-based Axiata, controlled by Khazanah Nasional Bhd., Malaysia’s state investment company, reported a 558.8 million ringgit ($165 million) profit for the fourth quarter ended Dec. 31.
Its mobile unit “dominated through 2009” with the highest mobile-phone revenue among Malaysia’s three major operators, Citi said in the report dated Feb. 26. Rivals Maxis Communications Bhd. and Digi.Com Bhd. lost revenue and subscriber market share last year, it said………………………………………Full Article: Source

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