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Sovereign Wealth Funds Briefing 25.Jun 2010

Posted on 25 June 2010 by VRS |  Email |Print

From Reuters: Korea Investment Authority, South Korea’s $35-billion sovereign wealth fund, has reduced exposure to euro zone equity and fixed income investments and is now underweight on assets in the region, the fund’s top official said on Thursday.
“We are very worried about what’s going on in Europe. I don’t think the austerity measures (adopted by some of the euro zone countries) will be enough. I think they will have to do some debt rescheduling,” said Scott Kalb, chief investment officer at the sovereign wealth fund known as KIC. Kalb spoke at a forum sponsored by The Korea Society……………………………………….Full Article: Source

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Posted on 25 June 2010 by VRS |  Email |Print

From Arabianbusiness.com: Rather as Abu Dhabi Investment Fund Aabar did in the second half of last year, Qatari Diar — the property arm of the Qatar Investment Authority — has blazed an astonishing trail across Europe and the Far East in recent months.
Since popping up on the consciousness of the broader international investment community in April with the purchase of the iconic Singapore hotel Raffles, Qatari Diar has pursued an aggressive buyout plan across the world, and by doing so eclipsed, for the time being at least, rival Gulf investment funds in the generation of headlines……………………………………….Full Article: Source

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Posted on 25 June 2010 by VRS |  Email |Print

From Dow Jones: Abu Dhabi-based International Petroleum Investment company, which controls Aabar Investments PJSC, acquired a 4.99% stake in UniCredit SpA on June 16, making it the Italian bank’s single biggest international shareholder, according to a filing published by the Italian market watchdog.
Aabar’s stake is worth around EUR1.8 billion, based on a Dow Jones Newswires calculation using UniCredit’s share price at June 16……………………………………….Full Article: Source

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Posted on 25 June 2010 by VRS |  Email |Print

From Bloomberg: Aabar Investments PJSC, the Abu Dhabi-based company that is the largest shareholder in German carmaker Daimler AG, bought a 4.99 percent stake in Italy’s UniCredit SpA as it adds investments in other industries.
Qatar Investment Authority, the country’s sovereign-wealth fund, this week agreed to invest $2.8 billion in Agriculture Bank of China Ltd.’s initial public offering. The wealth fund in neighboring Kuwait also agreed to invest $800 million……………………………………….Full Article: Source

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Posted on 25 June 2010 by VRS |  Email |Print

From Thenational.ae: Bond prices in Dubai are inching upwards and perceptions of risk are mellowing as Dubai World nears an agreement with creditors on a US$23.5 billion (Dh86.31bn) debt restructuring. That could pave the way for a revival in long-stagnant regional debt markets.
As yields have fallen, an HSBC index of bond returns issued by Dubai-based companies has climbed by about 17 per cent since the beginning of the year, according to Bloomberg data. Higher prices and declining bond yields reflect stronger investor confidence……………………………………….Full Article: Source

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Posted on 25 June 2010 by VRS |  Email |Print

From Bloomberg: Colombia may obtain an investment- grade rating should it follow through with plans to create an oil stabilization fund for “counter-cyclical” savings and to pay down debt, RBS Securities Inc. said.
“Follow-through action on an oil stabilization fund and fiscal responsibility law should provide the necessary catalyst for the investment-grade ratings from Moody’s and Fitch and reaffirm our convergence trade on external credit spreads to the high-grade pack over the next 3-6 months,” Siobhan Morden, head of Latin America strategy at RBS in Stamford, Connecticut, wrote in a report today……………………………………….Full Article: Source

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Posted on 25 June 2010 by VRS |  Email |Print

From Eurasiareview.com: Large sovereign investors often act as catalysts through their investment strategies and the development of corresponding investment criteria. The Dutch pension fund ABP, Sweden‘s Reserve Fund, or Norway‘s Government Pension Fund for instance play a leading role in their home markets with regard to sustainable investment strategies.
Owing to the strong presence of sovereign investors, responsible investing has a relatively high weight in these countries on European comparison. Germany lacks such a pioneer investor to provide impulses for the RI market segment……………………………………….Full Article: Source

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Posted on 25 June 2010 by VRS |  Email |Print

From Peopledaily.com.cn: Agricultural Bank of China (ABC) is likely to raise HK$80.8 billion from Hong Kong and nearly 61.4 billion yuan from Shanghai through the dual listing of shares next month. The Qatar Investment Authority has agreed to invest $2.8 billion, while the Kuwait Investment Authority will buy $800 million worth of H shares.
The bank has set a proposed price for the Hong Kong float between HK$2.88 and HK$3.48 per share. The indicative float sizes have been calculated based on the middle price of the proposed range in Hong Kong, said sources……………………………………….Full Article: Source

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