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Sovereign Wealth Funds Briefing 12.Oct 2010

Posted on 12 October 2010 by VRS |  Email |Print

From Reuters: Investors are eyeing a new crop of sovereign wealth funds they hope will manage revenues in frontier economies more efficiently, avoiding past pitfalls of high costs and corruption and boosting inflows and country ratings.
At least nine frontier market countries in Africa, the Middle East and Asia, from Angola to Bangladesh to Nigeria, are looking at the possibility of setting up a sovereign wealth fund……………………………………….Full Article: Source

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Posted on 12 October 2010 by VRS |  Email |Print

From Asiaone.com: Global Logistic Properties (GLP), a unit of Singapore sovereign wealth fund GIC, on Tuesday confirmed an initial public offering price of S$1.96 a share and said its shares will start trading on Oct 18.
The information was contained in an updated prospectus filed on the Monetary Authority of Singapore’s OPERA website……………………………………….Full Article: Source

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Posted on 12 October 2010 by VRS |  Email |Print

From Todayonline.com: Global Logistic Properties (GLP), the overseas warehousing unit of the Government of Singapore Investment Corp (GIC), yesterday launched its initial public offering (IPO) at $1.96 a share to raise as much as $3.9 billion.
GLP is looking to raise $3.4 billion but the amount raised from the share sale may increase to as much as $3.9 billion if its over-allotment option is fully exercised. This will make GLP the biggest IPO since SingTel’s $4 billion offering in 1993……………………………………….Full Article: Source

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Posted on 12 October 2010 by VRS |  Email |Print

From Dow Jones: Global Logistic Properties, a real estate unit of the Government of Singapore Corp., said Monday that it has priced its initial public offering at S$1.96 a share, potentially raising as much as S$3.9 billion in the first significant IPO by the city state’s sovereign wealth fund.
The company Monday registered its prospectus with the Monetary Authority of Singapore, opening the IPO to the general public. GLP owns, manages and leases out a network of 296 properties within 122 integrated parks spread across 25 cities in China and Japan……………………………………….Full Article: Source

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Posted on 12 October 2010 by VRS |  Email |Print

From Asiaone.com: Mapletree Industrial Trust, a property trust linked to Singapore state investor Temasek, will raise at least S$853 million ($654 million) after pricing its IPO at the top of the indicative range, sources said on Monday.
Mapletree Industrial will sell units at S$0.93 each, which translates to an annualised dividend yield of about 7.6 percent. The trust had earlier set a indicative range of S$0.88 to S$0.93 a unit……………………………………….Full Article: Source

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Posted on 12 October 2010 by VRS |  Email |Print

From Thestar.com.my: The planned divestment of Khazanah Nasional Bhd’s 32% stake in Pos Malaysia Bhd is taking longer than expected due to negotiations surrounding the Government’s “golden share” in the company, banking sources said.
“They (the Government) are grappling with how to deal with watering down the golden share, which is what potential bidders want,” one banker familiar with the situation said……………………………………….Full Article: Source

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Posted on 12 October 2010 by VRS |  Email |Print

From Dow Jones: Central Huijin Investment Ltd., the domestic investment arm of China’s sovereign wealth fund, raised its stake in Bank of China Ltd. by 0.0021% over the last year, the lender said in a statement Monday.
Central Huijin Investment bought a total of 5.13 million A-shares, or 0.0021% of the lender’s total issued share capital, in the open market in the roughly 12 months through Oct. 8, Bank of China said……………………………………….Full Article: Source

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Posted on 12 October 2010 by VRS |  Email |Print

From Bloomberg: China is moving to add more emerging-market currencies to its foreign-exchange reserves, a strategy central banks around the world are following to diversify their $8.7 trillion in holdings. China is the biggest holder of U.S. Treasuries, with $846.7 billion in August. It started a sovereign wealth fund, China Investment Corp., in September 2007 to help diversify the reserves to generate better returns.
“We can diversify more the foreign reserves, to consider not only smaller countries, but some emerging-market economies,” central bank Governor Zhou Xiaochuan said……………………………………….Full Article: Source

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Posted on 12 October 2010 by VRS |  Email |Print

From Smh.com.au: The New Zealand Super Fund says it has benefited from the rebound in global equity markets, with a 15.45 per cent return for the year ended June.
That compared with a 22.1 per cent slide a year earlier. Fund chairman David May said the return represented a 12.85 per cent premium to the risk-free rate — which for the fund is the return on 90-day New Zealand Treasury bills — for the year……………………………………….Full Article: Source

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Posted on 12 October 2010 by VRS |  Email |Print

From Scoop.co.nz: The latest results from the New Zealand Superannuation Fund — with the Fund returning 15.45 percent in the year to 30 June 2010 — show how foolish the Government has been in suspending pre-funding of contributions, says Labour Finance spokesperson David Cunliffe.
“This strong investment performance by the Fund proves yet again how short-sighted Government policies are,” David Cunliffe said……………………………………….Full Article: Source

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Posted on 12 October 2010 by VRS |  Email |Print

From Totaltele.com: Kuwait’s sovereign wealth fund didn’t receive an offer for its stake in Mobile Telecommunications Co., known as Zain, Al Arabiya television reported Saturday, citing the fund’s managing director .
Kuwait Investment Authority’s stake in the telecom firm isn’t part of an offer by Emirates Telecommunications Corp., or Etisalat, to buy 46% of Zain, Bader al-Saad told the Dubai-based channel……………………………………….Full Article: Source

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Posted on 12 October 2010 by VRS |  Email |Print

From Oilandgaseurasia.com: The activity level in the Norwegian petroleum industry is still high. The Norwegian Government Pension Fund Global – the so-called Oil Fund is still growing, now approaching NOK 3000 billion. This is more than one million per family in Norway.
Total oil production (including natural gas liquids and condensate) is estimated at 2.2 million barrels a day in 2010. This is five percent down from 2009……………………………………….Full Article: Source

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Posted on 12 October 2010 by VRS |  Email |Print

From News.az: Some $40bn have been transferred to the State Oil Fund since it was created at the end of 1999, its executive director, Shahmar Movsumov, said.
“Of this sum, the oil fund has spent $20bn, which means that we have managed to preserve slightly more than half of the reserves we have received,” Movsumov said……………………………………….Full Article: Source

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Posted on 12 October 2010 by VRS |  Email |Print

From Abc.az: The State Oil Fund of Azerbaijan (SOFAZ) has already spent half of incomings, received by it from the moment when the fund was set up in December, 1999.
On October 11, SOFAZ executive director Shahmar Movsumov said in the parliament, for all period of activity the fund has been obtained approximately $40 billion of incomes……………………………………….Full Article: Source

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Posted on 12 October 2010 by VRS |  Email |Print

From News.az: Azerbaijan’s strategic currency reserves have reached $26.5bn, Finance Minister Samir Sharifov said. The strategic currency reserves consist of the currency reserves controlled by the Central Bank, the assets of the State Oil Fund and state deposits.
“The country’s strategic currency reserves have increased by 29.9% or $6.1bn since early 2010,” Samir Sharifov said……………………………………….Full Article: Source

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Posted on 12 October 2010 by VRS |  Email |Print

From Juneauempire.com: The Permanent Fund Board met last week in Fairbanks to discuss the state of this marvelous fund and its future. It has been more than a generation since the creation of the fund, and many Alaskans aren’t really clear about what the fund is for, how it is invested or what is at risk.
The Permanent Fund has been a great success and many of its original protections and benefits have served us well. But we are entering a time when things will change. How we view, and ultimately use, the Permanent Fund is going to be a question we will need to face……………………………………….Full Article: Source

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