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Sovereign Wealth Funds Briefing 10.Mar 2010

Posted on 10 March 2010 by VRS |  Email |Print

From Todayonline.com: China is considering whether to inject more capital into China Investment Corp (CIC), the country’s US$300 billion ($420 billion) sovereign wealth fund, the chief foreign-exchange regulator Yi Gang acknowledged yesterday for the first time.

“We are still studying future investment in CIC and no decision has been made yet,” said Mr Yi, the head of the State Administration of Foreign Exchange (Safe), on the sidelines of the annual meeting of the National People’s Congress……………………………………….Full Article: Source

Posted on 10 March 2010 by VRS |  Email |Print

From Chinastakes.com: In 2009, as the global financial market began to stabilize, China Investment Corporation (CIC), China’s sovereign wealth fund, sped up the pace of its overseas investment and realized a paper gain of more than $10 billion.

While some Wall Street investors are advancing shorting hints concerning a possible China bubble, CIC is considering increasing investment in assets influenced by China factors, Australian mining companies, for example………………………………………Full Article: Source

Posted on 10 March 2010 by VRS |  Email |Print

From Channelnewsasia.com: Government investment firms like GIC and Temasek Holdings will not be part of plans to support local firms through co-investment. This was announced by Second Minister for Finance Lim Hwee Hua in parliament on Tuesday.

But she noted that with more small Singapore firms looking overseas, it will be a priority to set up an export-import body to assist cross border finance……………………………………….Full Article: Source

Posted on 10 March 2010 by VRS |  Email |Print

From Asiaone.com: The Government judges the Government of Singapore Investment Corporation (GIC) and Temasek Holdings on their overall portfolio performance, and does not discuss the individual deals of these sovereign wealth funds, Mrs Lim Hwee Hua said yesterday.

The Second Minister for Finance was replying to MP Inderjit Singh’s (Ang Mo Kio GRC) suggestion of more conservative mandates for GIC and Temasek as their investment outcomes affect Singapore’s reserves directly……………………………………….Full Article: Source

Posted on 10 March 2010 by VRS |  Email |Print

From Straitstimes.com: The Government of Singapore Investment Corporation (GIC) takes it ‘very seriously’ every time there is a decline in the value of its portfolio or an individual investment, Mrs Lim Hwee Hua said yesterday.

But it is ‘not realistic’ to avoid losses on every investment as that would require GIC to be completely risk-averse, added Mrs Lim, who is Minister in the Prime Minister’s Office and Second Minister for Finance and Transport……………………………………….Full Article: Source

Posted on 10 March 2010 by VRS |  Email |Print

From Arabnews.com: Dubai World creditors face painful choices. The conglomerate is close to a proposal for restructuring $26 billion of debt. But if lenders resist the deal, the process moves into uncertain territory.

The plan is expected to cover debts, mainly unsecured, of around $20 billion owed to 97 banks. It will also encompass $4 billion due indirectly to Abu Dhabi, after the emirate agreed to refinance a Dubai World bond in December. Another $2 billion is split between two sets of bondholders at property subsidiary Nakheel……………………………………….Full Article: Source

Posted on 10 March 2010 by VRS |  Email |Print

From Economist.com: A great leap forward in European integration? Or just words? That is the question posed by the weekend’s flurry of excitement, after Angela Merkel endorsed the idea of a European Monetary Fund, to fulfil the same sort of role as the International Monetary Fund (IMF) within the euro zone.
Many in Brussels are pretty excited about this apparent concession from the German chancellor……………………………………….Full Article: Source

Posted on 10 March 2010 by VRS |  Email |Print

From Globaltimes.cn: The chief currency regulator reiterated Tuesday the country’s continued commitment to invest in US Treasuries, calling the move responsible and assuring that a recent unloading of some holdings was simply part of regular market operations. China’s foreign reserves grew from $286 billion in 2002 to $2.4 trillion in 2009 to become the world’s biggest.

He added that the country is diversifying its foreign investments to spread out risks, and it has no plan to boost its gold holdings.China is looking into whether to inject more money into China Investment Corp (CIC), the country’s $300 billion sovereign wealth fund, but no decision has been made……………………………………….Full Article: Source

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