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Sovereign Wealth Funds Briefing 01.Sep 2010

Posted on 01 September 2010 by VRS |  Email |Print

From Xinhua: The U.S. Federal Reserve Board on Tuesday announced it has approved the application by China Investment Corporation (CIC) to buy up to 10 percent of voting shares of investment giant Morgan Stanley.
The central bank said CIC, a sovereign wealth fund organized by the Chinese government to invest foreign exchange reserves, will acquire the stakes indirectly. It entered into a stock purchase agreement to acquire voting common stock of Morgan Stanley by August 2010……………………………………….Full Article: Source

Posted on 01 September 2010 by VRS |  Email |Print

Philippa MalmgrenFrom Theage.com.au: A former economic adviser to George W. Bush has warned that Australia stands to lose its economic bargaining chip if it allows China to become a direct investor in domestic mining or agriculture.
Philippa Malmgren, president of London-based Canonbury Group and a global consultant with Deutsche Bank, said that as China’s demand for natural resources grew, so too would its insistence on controlling the global supply chain……………………………………….Full Article: Source

Posted on 01 September 2010 by VRS |  Email |Print

From Financeasia.com: Singapore-based GIC signals its intention to focus on investments in India by appointing veteran real estate investor Kishore Gotety as country head. The Government of Singapore Investment Corporation (GIC) has hired Kishore Gotety, who was most recently at RREEF, as country head for India real estate.
GIC confirmed the appointment of Gotety as head of real estate for India but declined to comment further. However, the hire suggests GIC believes the opportunity is ripe to start investing in real estate in India……………………………………….Full Article: Source

Posted on 01 September 2010 by VRS |  Email |Print

From Freeofficesearch.co.uk: The National Pension Service of Korea has launched a new $2bn investment programme with a view to acquiring property assets in Europe and Asia. NPS is the world’s fifth-largest pension fund is appointing fund managers to act on its behalf in the two continents.
European investment will be managed by Rockspring Property Investment Managers while Pramerica Real Estate Investors will seek assets in Asia……………………………………….Full Article: Source

Posted on 01 September 2010 by VRS |  Email |Print

From Thejakartaglobe.com: The government has canceled plans to create a state-owned enterprises investment fund that would have helped finance infrastructure projects.
Plans for the fund, which would have used government minority stakes in partially privatized state-owned enterprises to raise money, were apparently illegal……………………………………….Full Article: Source

Posted on 01 September 2010 by VRS |  Email |Print

From Bloomberg: Libya doesn’t rule out increasing its stake in UniCredit SpA, daily Il Sole 24 Ore reported, without saying where it got the information. The Central Bank of Libya owned 4.1 percent of Milan- based UniCredit and the Libyan Investment Authority held 2.1 percent as of Aug. 3.
Libya won’t make a “hostile” attempt to take over the bank, according to the Italian newspaper……………………………………….Full Article: Source

Posted on 01 September 2010 by VRS |  Email |Print

From Tripolipost.com: Ben Ammar, a French-Tunisian financier who is a board member at Telecom Italia SpA, said Arab sovereign wealth funds should be viewed as long-term investors.
“These sovereign funds make investments for 50 years,” he said. “They’re the investments for when one day there’s no more oil.”………………………………………Full Article: Source

Posted on 01 September 2010 by VRS |  Email |Print

From Gulfnews.com: Aabar Investments, the largest shareholder in German luxury carmaker Daimler, on Tuesday said it would seek regulator approval to delist its shares from the Abu Dhabi stock exchange on September 8.
In a statement posted on the Abu Dhabi bourse website, Aabar said it has sought the Emirates Securities and Commodities Authority approval to delist, and that it has received government approval to convert into a private joint stock company……………………………………….Full Article: Source

Posted on 01 September 2010 by VRS |  Email |Print

From China Knowledge: A consortium consisting of Qatar Investment Authority and Japan-based Firix Partners Co is considering buying Nan Shan Life Insurance Co for US$2.5 billion from insurance giant American International Group Inc, if Taiwan’s regulators reject the acquisition application jointly submitted by China Strategic Holdings Ltd and Primus Financial Holdings Ltd.
According to the report, the consortium has arranged investment banks to contact with AIG, expressing the consortium’s intention to acquire Nan Shan Life……………………………………….Full Article: Source

Posted on 01 September 2010 by VRS |  Email |Print

From Stockhouse.com: In fact, China’s $300 billion sovereign wealth fund — China Investment Corp. — may yet decide to underwrite China Mining United Fund’s plan to develop Allana’s potash project, says the China Mining Association’s web site, www.chinamining.org. Whether the sovereign wealth fund is participating in China Mining United Fund’s latest financing has not yet been disclosed.
Alternatively, China Investment Corp. may opt to directly finance part of the project’s construction costs, according to remarks attributed to a senior official in China’s central government……………………………………….Full Article: Source

Posted on 01 September 2010 by VRS |  Email |Print

From Reuters: Norway’s central bank will increase its daily sales of Norwegian crowns in September to buy foreign exchange for the country’s oil fund. The central bank manages Norway’s $450 billion Government Pension Fund — Global which invests surplus oil wealth to save for a future when the oil and gas run out.
Daily transactions will be 470 million Norwegian crowns ($74.18 million), up from 135 million in August……………………………………….Full Article: Source

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