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Sovereign Wealth Funds Briefing 29.Mar 2010

Posted on 29 March 2010 by VRS |  Email |Print

From Business24-7.ae: Sovereign wealth funds are among the largest investors in real estate, with substantial amounts of capital allocated to this particular asset class, according to a new report released by Preqin.

Their influence as a significant group of institutional investors has not diminished in the wake of the economic turmoil and at the start of a global economic recovery the aggregate assets under management of all SWFs reached $3.51 trillion (Dh12.89trn), which represents an nine per cent increase from last year, show the figures released in the report……………………………….Full Article: Source

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Posted on 29 March 2010 by VRS |  Email |Print

From Gulfnews.com: Even the big economies need to cultivate the buyers of their debt and build up their relationships with investors, such as the SWFs, which hold billions of dollars in government bonds.

China’s State Administration of Foreign Exchange, or Safe, and Singapore’s Government Investment Corporation, or GSIC, have between them an estimated $600 billion in assets under management, with roughly 20 per cent held in government bonds……………………………….Full Article: Source

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Posted on 29 March 2010 by VRS |  Email |Print

From Voltairenet.org: Sheikh Ahmed bin Zayed Al Nahyane, the younger brother of the president of the United Arab Emirates and director of the Abu Dhabi sovereign wealth fund (ADIA) was reported missing on 27 March 2010, at the age of 32.

He was in a glider which came down in a lake near Rabat (Morocco). Only the pilot was recovered alive………………………………..Full Article: Source

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Posted on 29 March 2010 by VRS |  Email |Print

From People.com.cn: Managing Director of Abu Dhabi Investment Authority (ADIA), Sheikh Ahmed bin Zayed al Nahyan, was still missing after his plane crashed in a lake in Morocco Friday night.

Ahmed’s pilot was rescued, but Ahmed’s whereabouts are still not available. ADIA is believed to be the world’s largest sovereign wealth fund, with estimates of its size ranging from about $400 billion to more than $875 billion………………………………..Full Article: Source

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Posted on 29 March 2010 by VRS |  Email |Print

From Arabianbusiness.com: Qatari Diar Real Estate Investment Company announced on Thursday that it has reached a deal to acquire a 50% stake in Maia Luxury Resort and Spa in Mahé, Seychelles.

The firms reached the deal terms with Tsogo Sun Holdings, one of South Africa’s most successful entertainment and hospitality groups, the Qatari company said in a press release………………………………..Full Article: Source

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Posted on 29 March 2010 by VRS |  Email |Print

From Reuters: Australia’s sovereign wealth fund, the Future Fund, is considering buying Macquarie Group’s 23.2 percent stake in airports fund MAP Group.

Macquarie is rumoured to be looking for a price of around A$1.5 billion ($1.36 billion) for the stake in the fund that it managed until last year, The Age newspaper said………………………………..Full Article: Source

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Posted on 29 March 2010 by VRS |  Email |Print

From Financialstandard.com.au: Sovereign wealth fund (SWF), Alaska Permanent Fund Corporation (APFC), has poured over $1 billion into various global fund managers following an investment meeting in December.

The SWF’s fund gave $250 million to Oaktree Capital Management and Audax Management Company as part of the fund’s strategy to invest in mezzanine level debt………………………………..Full Article: Source

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Posted on 29 March 2010 by VRS |  Email |Print

From Reuters: Norway’s finance minister said on Friday the government was proposing to limit the risk in the active management of the country’s sovereign wealth fund, but that parts of the fund would still be managed actively.

“In our opinion there still ought to be some leeway for the fund to deviate from its benchmark portfolio,” Finance Minister Sigbjoern Johnsen said in a statement………………………………..Full Article: Source

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Posted on 29 March 2010 by VRS |  Email |Print

From Peopledaily.com.cn: An investment agency owned by the Gulf Cooperation Council (GCC) said Saturday its net profits in 2009 stood at 91 million US dollars.

The Gulf Investment Corporation (GIC) said in a statement its shareholders equity totalled 1.75 billion dollars at the end of 2009, seeing an increase of 1.1 billion dollars over 2008, despite that the global financial market was ravaged by a spreading turmoil………………………………..Full Article: Source

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Posted on 29 March 2010 by VRS |  Email |Print

From Telegraphindia.com: Indian firms could buy more foreign coal assets to meet the growing gap between demand and availability, which is set to shoot up to 200 million tonnes by the end of the Twelfth Five Year Plan (2012-17). A sovereign fund to buy the foreign assets is under the consideration of the Indian government.

“Coal production is not growing fast enough. This is leading to an increasing dependence on imports. Coal imports are likely to reach 183 million tonnes (per annum) by the end of the Twelfth Plan,” according to the mid-term appraisal of the Planning Commission………………………………..Full Article: Source

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Posted on 29 March 2010 by VRS |  Email |Print

From Guardian: Songbird came close to collapsing under the weight of its debts last year but managed to eliminate them after raising £1bn in a refinancing that saw the Qatar and Chinese sovereign wealth funds become its largest shareholders.

Analysts welcomed the results, which also boosted shares in property developers including British Land, Hammerson and Liberty International………………………………..Full Article: Source

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Posted on 29 March 2010 by VRS |  Email |Print

From Business24-7.ae: The Dubai World debt restructuring was better than expected, said the Director-General of the Ministry of Finance, Younis Haji Al Khouri.

The restructuring has big positive effects on debtors, he said, speaking on the sidelines of a forum on financing inter-exports, organised by the Abu Dhabi Department of Economic Development, Ministry of Finance and the International Islamic Trade Finance Corporation at the capital’s Park Rotana Hotel………………………………..Full Article: Source

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Posted on 29 March 2010 by VRS |  Email |Print

From Smoke ‘N’ Mirrors: Sources close to to Brunei slippery bastard Prince Jefri Archer have strenuously denied his former UAE business partner has done a runner.

But over $100 billion of the Abu Dhabi Embezzlement Authority’s $400 billion coffers has vanished into thin heir along with the fund’s CEO Shaikh Kamal Jokki………………………………..Full Article: Source

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