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Sovereign Wealth Funds Briefing 15.Sep 2010

Posted on 15 September 2010 by VRS |  Email |Print

From Reuters: The value of Norway’s sovereign wealth fund rose by 2.2 percent in August to a preliminary 2.877 trillion Norwegian crowns ($471.2 billion) from 2.814 trillion at the end of July, central bank data showed on Tuesday.
Commonly known as the “oil fund”, the Government Pension Fund — Global invests Norway’s oil and gas wealth in foreign stocks and bonds to save for future generations……………………………………….Full Article: Source

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Posted on 15 September 2010 by VRS |  Email |Print

From Balkans.com: The determination of the Greek government, the EU and the IMF to avoid the restructuring of the country’s public debt should not be doubted. This does not mean, however, they will be successful.
Greece may proceed with a partial restructuring of its debt held by official lenders but this may not be the kind of credit event many market participants have in mind. However, it still has a chance to avoid even this by taking some other steps……………………………………….Full Article: Source

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Posted on 15 September 2010 by VRS |  Email |Print

From Abc.az: The Central Bank of Azerbaijan (CBA), running statistics of payment balance, reports that over the second quarter of 2010 revenues of the State Oil Fund of Azerbaijan (SOFAZ) fell by $47.4 million versus the index for the first quarter from placement of assets abroad.
CBA informs that as of 1 July 2010 SOFAZ received $14.8 million against $62.2 million on 1 April as an earning from placement while the CBA itself earned only $8.7 million versus $5.9 million. For the reported term earnings of second level of banks from assets placement abroad amounted to only $2.2 million against $1.9 million……………………………………….Full Article: Source

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Posted on 15 September 2010 by VRS |  Email |Print

From WSJ: Apollo Hospitals Enterprise Ltd. is in talks with Malaysian sovereign wealth fund Khazanah Nasional Bhd. for possible collaborations in health-care delivery and medical education in India and the rest of Asia, a top executive at the company said.
“We are currently talking on areas that we could collaborate in,” Executive Director for Finance Suneeta Reddy said. The discussions are still in an “exploratory stage,” she added……………………………………….Full Article: Source

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Posted on 15 September 2010 by VRS |  Email |Print

From Caixin Online: Zhongchuan International Mining Holding Ltd. is in partnership talks with China’s sovereign-wealth fund China Investment Corp. Ltd. (CIC) for a major investment in a Canadian potash mine.
Zhongchuan is seeking capital to develop a mine in Saskatchewan called KP488. The Chinese mining concern acquired exploration rights in 2007 through its wholly owned subsidiary M&J Potash Corp……………………………………….Full Article: Source

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Posted on 15 September 2010 by VRS |  Email |Print

From Dow Jones: Export-Import Bank of China plans to issue three-year yuan bonds in Hong Kong in the fourth quarter to meet growing local demand. Exim bank owns 52% of the holding company, China Investment Corp.–the country’s sovereign-wealth fund–owns 24%, and the rest is owned by a few other companies.
Bank Vice President Zhu Xinqiang declined to disclose the planned size of the bond issue, saying the bank has a target but it is subject to change based on the market situation……………………………………….Full Article: Source

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Posted on 15 September 2010 by VRS |  Email |Print

From Capitalvue.com: China Investment Corporation has agreed to purchase $50 million worth of shares in Boshiwa International Holding’s initial public offering.
Boshiwa International Holding, which specializes in infant and child products in mainland China, plans to go public on September 29 and will begin IPO subscription on September 16……………………………………….Full Article: Source

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Posted on 15 September 2010 by VRS |  Email |Print

From Reuters: The logistics unit of Singapore sovereign fund GIC has assets worth over $8 billion and the fund hopes to sell a minority stake in the business at 1.3 to 1.4 times book value, a source briefed on the listing said on Tuesday.
The source also said that 65 percent of Global Logistic Properties’ (GLP) asset value comprises warehouses and other buildings in Japan, with China accounting for the remainder. The GIC unit owns 296 properties of which 69 are in Japan……………………………………….Full Article: Source

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Posted on 15 September 2010 by VRS |  Email |Print

From Reuters: Singapore sovereign fund GIC has kicked off the initial public offering of its logistics unit, aiming to raise up to US$3 billion in what could be the city-state’s biggest IPO.
Global Logistic Properties (GLP), which owns industrial and logistic properties in China and Japan, will be the first listing of a majority-owned firm by the Government of Singapore Investment Corp, the world’s fourth-biggest sovereign fund……………………………………….Full Article: Source

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Posted on 15 September 2010 by VRS |  Email |Print

From Todayonline.com: The Government of Singapore Investment Corporation (GIC) may sell just a minority stake in the listing of Global Logistic Properties (GLP) that is expected to raise a record US$3 billion ($4.01 billion).
According to a Reuters report yesterday that cited unnamed sources, GIC may offer shares of its logistics unit at 1.3 to 1.4 times book value in its initial public offering……………………………………….Full Article: Source

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Posted on 15 September 2010 by VRS |  Email |Print

From Reuters: Australia’s $63 billion sovereign wealth fund said on Tuesday its general manager, Paul Costello, would step down at the end of the year after guiding the Future Fund through its formative years.
In a statement on its web site, the Future Fund said it would seek expressions of interest for a new general manager from Australia and overseas……………………………………….Full Article: Source

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Posted on 15 September 2010 by VRS |  Email |Print

From Asianinvestor.net: The tenure of Paul Costello as general manager of Australia’s Future Fund is being widely praised following the announced that he will step down at the end of this year.
Costello was the fund’s first employee when it launched in November 2006. He has overseen its growth to A$87 billion ($81 billion) in investments held with some 60 managers around the world, from an initial A$18 billion in cash……………………………………….Full Article: Source

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Posted on 15 September 2010 by VRS |  Email |Print

From Dow Jones: Australia’s Future Fund is searching for a new general manager after Paul Costello announced he will leave around the end of the year.
Costello joined the Future Fund as its first employee in November 2006 when the fund held an initial A$18 billion. It now manages more than A$87 billion and has more than 60 investment managers globally……………………………………….Full Article: Source

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Posted on 15 September 2010 by VRS |  Email |Print

From Digitaljournal.com: Nigerian President Goodluck Jonathan on Monday said he has proposed a legislation that seeks to improve the management of the country’s oil revenue through a special fund for savings and infrastructure.
Jonothan’s proposal to create a sovereign wealth fund which comes ahead of January elections would replace an existing arrangement in which government put excess crude revenue in a savings account……………………………………….Full Article: Source

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Posted on 15 September 2010 by VRS |  Email |Print

From Emirates247.com: Positive outcome of the 99 per cent creditor agreement on Dubai World’s restructuring, will contribute to the continuation of the emirate’s ambitious development as a hub for capital and business.
Officials and experts said the agreement confirms the ability of Dubai’s economy to adapt to changes and overcome the challenges, and prove that this economy is committed to the principles of transparency and clarity……………………………………….Full Article: Source

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Posted on 15 September 2010 by VRS |  Email |Print

From Globalpensions.com: Uganda’s National Social Security Fund is signing on new asset managers to help it manage its equities portfolio. Board chairman Vincent Ssekkono said: “In order to get maximum value of its shares and participate more actively in other listed companies, the fund is in the final stages of contracting fund managers and brokers to handle its equities business.”
An asset allocation was not provided, but Ssekkono said the NSSF invests in equities, real estate and fixed income……………………………………….Full Article: Source

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Posted on 15 September 2010 by VRS |  Email |Print

From Emii.com: Alaska Permanent Fund Corporation (APFC) is searching for a risk investment analyst to be based in Juneau. The analyst will be responsible for performing detailed risk analyses of public equity portfolios and other asset classes, including private equity and infrastructure.
The selected candidate will be replacing Jennifer Ma, who has left the fund, adds Pensions & Investments………………………………………Full Article: Source

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