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Sovereign Wealth Funds Briefing 01.Jun 2010

Posted on 01 June 2010 by VRS |  Email |Print

From Financialstandard.com.au: The Alaska Permanent Fund is set to approve a $700 million to private equity investments for the next financial year. The fund’s board of trustees is also expected to commit a further $290 million to private equity investments for the remainder of this financial year.
The allocation is part of a number of policies that should be approved by the trustees including streamlining its policies into two documents……………………………………….Full Article: Source

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Posted on 01 June 2010 by VRS |  Email |Print

From Reuters: Norway’s central bank will not sell Norwegian crowns in June to buy foreign exchange for the country’s oil fund after refraining from selling crowns in May, the bank said on Monday.
The central bank manages Norway’s $450 billion-plus Government Pension Fund — Global which invests surplus oil wealth to save for the future when the oil and gas run out. The bank sells Norwegian currency to invest the fund’s money in foreign stocks and bonds. It is one of the world’s biggest sovereign wealth funds and Europe’s largest equity investor……………………………………….Full Article: Source

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Posted on 01 June 2010 by VRS |  Email |Print

From Thenational.ae: The Bahraini sovereign wealth fund that owns a stake in the car maker McLaren expects to return to profit this year, even as state funds face tighter regulation after the global financial crisis.
Bahrain Mumtalakat Holding, the GCC state’s US$10 billion (Dh36.7bn) fund, suffered losses connected to its stake in the national carrier Gulf Air and a reduction in aluminium prices, affecting its investment in the metal maker Aluminium Bahrain (Alba) last year, said Talal al Zain, the chief executive of Mumtalakat……………………………………….Full Article: Source

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Posted on 01 June 2010 by VRS |  Email |Print

From Business24-7.ae: Post-crisis recovery of international markets boosted the assets of the Abu Dhabi Investment Authority (Adia) by nearly $50 billion (Dh183bn) in 2009 and the wealth is projected to swell further by $30bn this year, according to a key Western financial organisation.
The rebound in the assets of Adia, ranked the world’s largest sovereign wealth fund, follows a loss of about $45bn during 2008 because of the global fiscal distress in September that year, the Institute of International Finance (IIF) said……………………………………….Full Article: Source

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Posted on 01 June 2010 by VRS |  Email |Print

From Thepeninsulaqatar.com: Nearly two thirds (63 percent) of elite worldwide would approve of investment coming from Qatar, according to the Sovereign Brands Survey 2010. The study looked into the attitudes of elites to sovereign wealth as a concept, the reputation of host nations and sovereign wealth funds (SWFs).
Qatar, however, ranked lower than Kuwait, Abu Dhabi, Dubai and Bahrain……………………………………….Full Article: Source

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Posted on 01 June 2010 by VRS |  Email |Print

From Cellular-news.com: The Kuwaiti sovereign wealth fund, Kuwait Investment Authority (KIA) is again reported to be considering a sale of its 24.6% stake in Zain - if it can secure a suitable price. Citing unidentified sources, the local al Qabas newspaper said that the KIA has called on investment firms to evaluate a fair price for the stake.
KIA said: “The Kuwait Investment Authority did not commission any party to evaluate the fair price of Zain shares ahead of selling its stake to a strategic investor.”………………………………………Full Article: Source

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Posted on 01 June 2010 by VRS |  Email |Print

From Bloomberg: Qatar considered acquiring a stake in Citigroup Inc. and held talks with a partner over buying shares in the U.S. company, the country’s finance minister said.
“It was only just exploring our interest, not more than that,” Finance and Economy Minister Youssef Kamal said at the World Economic Forum Global Redesign Summit in the Qatari capital, Doha, today. He declined to say whether Qatar was still interested in the stake and didn’t name the partner involved in the negotiations……………………………………….Full Article: Source

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Posted on 01 June 2010 by VRS |  Email |Print

From Bloomberg: GCL Poly Energy Holdings Ltd., in which China’s sovereign wealth fund holds a stake, rose the most in more than five months after starting operations at a plant in southern China.
The stock jumped as much as 12 percent, the biggest increase since Nov. 13, to HK$1.63 in Hong Kong trading and traded at HK$1.59 at 10:57 a.m. The benchmark Hang Seng Index climbed 0.1 percent……………………………………….Full Article: Source

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Posted on 01 June 2010 by VRS |  Email |Print

From Platts.com : Vietnam has cut the amount of funds that oil companies can draw from the Oil Stabilization Fund for gasoline to Dong 200/liter (1 cent/liter) from Dong 500/liter, and that came into effect May 28, the Ministry of Finance said on its web site.
At the same time, the same decree issued May 27 also requires gasoline retailers to reduce retail prices of gasoline by Dong 500/liter — equivalent to 2.9% — on the same day the decree was issued……………………………………….Full Article: Source

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Posted on 01 June 2010 by VRS |  Email |Print

From Channelnewsasia.com: The Government of Singapore Investment Corporation (GIC) has agreed to acquire a 5 per cent stake in the proposed real estate investment trust of the Malaysian developer, Sunway City.
Sunway City said it has entered into a cornerstone agreement with GIC for the sale of 134 million units of the REIT……………………………………….Full Article: Source

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Posted on 01 June 2010 by VRS |  Email |Print

From Thestar.com.my: It will be difficult for India’s Fortis Healthcare Ltd to secure the support of Government of Singapore Investment Corp Pte Ltd (GIC) to make a counter bid for Parkway Holdings Ltd as the sovereign fund’s mandate is strictly to invest in companies outside the republic, sources said.
GIC declined comment on this issue. News reports in the Indian media stated that Fortis has secured the “tacit support of GIC” to make a counter-offer for Parkway……………………………………….Full Article: Source

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Posted on 01 June 2010 by VRS |  Email |Print

From Business-standard.com: India has been placed alongside the US and the UK as the least familiar and least favourable to sovereign wealth fund (SWF) investment, a new survey has revealed.
According to the Sovereign Brands Survey, conducted by research and communications strategy consultants Hill & Knowlton and Penn Schoen Berland, Egypt, Germany, Brazil and China are among the most familiar and the most favourable……………………………………….Full Article: Source

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Posted on 01 June 2010 by VRS |  Email |Print

From Financialexpress.com: After the global downturn, concerns have been raised over the transparency of Sovereign Wealth Funds (SWFs). Countries like India and the US are least familiar and least favourable to SWF investment.
A survey carried out by Hill & Knowlton and Penn Schoen Berland among 1,064 investors across seven markets in the world revealed that host countries most interested in SWFs are also the most cautious. About 97% of elites in China and 60% in India had reservations about SWFs investments……………………………………….Full Article: Source

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Posted on 01 June 2010 by VRS |  Email |Print

From Bnn.ca: In late 2007 and early 2008 one couldn’t open a newspaper or a business magazine without facing a Sovereign Wealth Fund discussion. There were large reports from all the major investment dealers; the hottest session at Davos’ World Economic Forum was about these funds and the implications of their vast and growing wealth (governance issues, politics and motives);
and everywhere there were projections that these funds would have access to $10 to $15 trillion worth of capital by the year 2012-2015……………………………………….Full Article: Source

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