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Sovereign Wealth Funds Briefing 24.Sep 2010

Posted on 24 September 2010 by VRS |  Email |Print

From IPE: The Australian sovereign wealth fund that manages A$34bn ($32.4bn) for the state of Victoria’s superannuation and insurance authorities, says it has exceeded benchmarks in seven out of nine asset classes.
The chairman of the Victorian Funds Management Corporation (VFMC) John Fraser, said conditions in the twelve months to the end of June this year had not been “a time for the faint-hearted.”………………………………………Full Article: Source

Posted on 24 September 2010 by VRS |  Email |Print

From Businessdayonline.com: For quite some time now, especially during the time when late president Umaru Yar’Adua was alive, consideration for creation of a Sovereign Wealth Fund (SWF) for Nigeria was giving exploratory attention within government public policy and national economic management cycles.
The issue was rekindled when the current Minister of Finance, Olusegun Aganga was brought into the cabinet, following the death of President Yar’Adua on May 09, 2010. For example, a Technical Committee was established by Aganga to workout the modalities for the creation of the Fund……………………………………….Full Article: Source

Posted on 24 September 2010 by VRS |  Email |Print

From Thenational.ae: Songbird Estates, which controls 70 per cent of the Canary Wharf business hub and in which Qatar Investment Authority (QIA) is the major shareholder, yesterday posted a return to profit of US$5.5 million (Dh20.2m) for the first half of the year, compared with a loss of Dh465m in the same period last year.
More importantly, the value of its Docklands property portfolio, where it counts some of the biggest names in international finance among its tenants, is rising……………………………………….Full Article: Source

Posted on 24 September 2010 by VRS |  Email |Print

From Forbes: The Abu Dhabi state investment company with stakes in General Electric and chip maker Advanced Micro Devices says it lost $1.2 billion in the first half of 2010 as the value of its investments plunged.
Mubadala Development Company reported on Thursday the 4.5 billion dirham total comprehensive loss, using an accounting method that takes into account unrealized changes in investments……………………………………….Full Article: Source

Posted on 24 September 2010 by VRS |  Email |Print

From Albawaba.com: Mubadala Development Company (Mubadala), the Abu Dhabi-based strategic development and investment company, today announced its financial performance and operational highlights for the first half of 2010.
Key operational highlights from the first half of 2010 include the creation of Sanad Aero Solutions, launched in January of this year to lease aircraft components and spare engines and to support Mubadala’s global maintenance, repair and overhaul business………………………………………Full Article: Source

Posted on 24 September 2010 by VRS |  Email |Print

From WSJ: South Korea’s National Pension Service, the world’s fifth-largest pension fund, has committed to invest $300 million in troubled real estate through Townsend Group, the latest sign that foreign investors increasingly are venturing into the down-on-its-luck U.S. property market.
The pension fund has committed to invest the money in a separately managed account with Cleveland-based Townsend. Its primary focus will be on snapping up stakes in distressed private-equity real-estate funds and recapitalizing them……………………………………….Full Article: Source

Posted on 24 September 2010 by VRS |  Email |Print

Alaska Airlines launched its Permanent Fund Dividend sale today, featuring air fares as low as $89 for travel between Anchorage and Fairbanks and $199 between Anchorage and Seattle, as well as discounts on freight shipping and Alaska Airlines Vacation packages. The special rates are on select routes between Alaska and the Lower 48 states, Canada, Hawaii and Mexico for travel purchased by Oct. 23, 2010.
“This sale features some very attractive fares so that residents receiving their checks next month can plan ahead to purchase discounted travel to most all the destinations we fly, including Hawaii and Mexico,” said Bill MacKay, the airline’s senior vice president for the state of Alaska……………………………………….Full Article: Source

Posted on 24 September 2010 by VRS |  Email |Print

From Bloomberg: Brazil’s real fluctuated between gains and losses as concern that the government’s sovereign wealth fund will buy dollars offset foreign investment in the sale offering by Petroleo Brasileiro SA.
The real rose 0.1 percent to 1.7171 per dollar at 1:05 p.m. New York time, from 1.7183 yesterday……………………………………….Full Article: Source

Posted on 24 September 2010 by VRS |  Email |Print

From Tvnz.co.nz: The Superannuation Fund, more commonly known as the Cullen Fund, made a paper-loss of $230 million last month. Movements in the fund’s asset allocations were fairly muted in what was a flat month for stocks, and most of the loss came from a bigger drain in its cash, collateral and foreign exchange hedges.
The fund made a loss of $431.5 million from the programme, bigger than July’s $159.2 million loss. It has some $16.21 billion under management……………………………………….Full Article: Source

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