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Sovereign Wealth Funds Briefing 22.Oct 2010

Posted on 22 October 2010 by VRS |  Email |Print

From Reuters: Sovereign wealth funds are back in the market after the financial crisis, with growing numbers of transactions and a return to financial sector investment, but the pattern of their investing has changed significantly.
A new study on the activities of some 33 sovereign wealth funds (SWFs) has found that the government-funded vehicles are making smaller transactions than before and have eschewed taking stakes in international financial institutions in favour of emerging markets……………………………………….Full Article: Source

Posted on 22 October 2010 by VRS |  Email |Print

From FT Alphaville: A couple of items to note for the Sovereign Wealth Fund trend-watchers out there. First, a milestone of sorts. The Sovereign Wealth Fund Institute just reported that SWF assets have crossed the $4,000bn mark, put over the top by the latest update from Norway’s Government Pension Fund Global.
With the caveat that these estimates are bound to be somewhat imprecise, you can click here to see the updated rankings……………………………………….Full Article: Source

Posted on 22 October 2010 by VRS |  Email |Print

From Efinancialnews.com: A Sovereign Wealth Fund Strategic Index, charting the largest holdings of state investment funds and tracking gains and losses, has launched to give a rare insight into the decisions adopted by the world’s biggest investors - but don’t expect to be too surprised.
The index has been launched by the Sovereign Wealth Fund Institute and Park Alpha, a subsidiary that acts as an investment consultant to SWFs and whose relationship allows access to some of the strategies adopted by these giant investors……………………………………….Full Article: Source

Posted on 22 October 2010 by VRS |  Email |Print

From Abc.az: The accumulated assets of the State Oil Fund of Azerbaijan (SOFAZ) will reach the size of country’s annual GDP in the medium-term perspective.
Yesterday at the Cabinet Ministers session presided by President Ilham Aliyev SOFAZ executive director Shahmar Movsumov stated that by 1 October the Fund earned its first $1 billion from the management of their assets in the entire history of SOFAZ existence……………………………………….Full Article: Source

Posted on 22 October 2010 by VRS |  Email |Print

From Abc.az: The State Oil Fund of Azerbaijan (SOFAZ) is going to win back accounting losses formed because of exchange rate difference in the first half of 2010. Informed sources link Fund’s exchange losses with an excessive rise of euro exchange rate to base currency (U.S. dollar) of SOFAZ.
“Panic rise of euro rate has stopped, and following this year SOFAZ expects recovery of lost assets in accounting terms,” a source said……………………………………….Full Article: Source

Posted on 22 October 2010 by VRS |  Email |Print

From Reuters: In the boom years before the global financial crisis, Gulf Arab sovereign wealth funds invested most of their petrodollars abroad. When markets fell, they propped up major Western firms and snapped up bargains.
But what about regional markets, which still lack the liquidity and depth to lure international institutions?………………………………………Full Article: Source

Posted on 22 October 2010 by VRS |  Email |Print

From Mercopress.com: Qatar Holding, the investment arm of the Gulf nation’s sovereign wealth fund, will buy bonds that must be converted into shares of Banco Santander Brasil, the parent company said in a regulatory filing.
The three-year bonds come with an annual coupon of 6.75% and the exchange price for the stock is 23.75 Real (14.22) a share, Santander said……………………………………….Full Article: Source

Posted on 22 October 2010 by VRS |  Email |Print

From Reuters: Qatari property developer Barwa Real Estate Co posted a third-quarter net profit of 305.2 million riyals ($83.8 million), a 22.6 percent rise from the same period a year ago. Barwa is the Gulf Arab region’s third largest developer by market capitalisation and an affiliate of the state’s sovereign wealth fund, the Qatar Investment Authority, which holds a 45 per cent stake in the company.
Barwa made a nine-month profit of 775.6 million riyals, the company said in a statement to the bourse website on Thursday, on higher property sales and as rental revenues more than doubled……………………………………….Full Article: Source

Posted on 22 October 2010 by VRS |  Email |Print

From Zawya.com: Mumtalakat Holding Company (Mumtalakat) announced yesterday two key additions to its executive management team. Lamees Al Baharna joins the company as Vice President, Risk while Dina Kasrawi has been appointed as Vice President, Corporate Communications.
The appointments mark a further strengthening of the executive structure to ensure sustained operational success, Mumtalakat said……………………………………….Full Article: Source

Posted on 22 October 2010 by VRS |  Email |Print

From Dow Jones: Korea Investment Corp. Thursday outlined a plan to raise its investment in strategic overseas assets as well as in non-traditional avenues to increase its returns, and its intent to hold on to its Bank of America Corp. (BAC) stake for now despite facing sharp criticism for its decision to invest in the bank.
The sovereign wealth fund, in a report to lawmakers, said it will continue to diversify its portfolio through strategic overseas investments in sectors like commodities and energy……………………………………….Full Article: Source

Posted on 22 October 2010 by VRS |  Email |Print

From Domain-b.com: Singapore’s state-owned investment company Temasek Holdings Pte Ltd yesterday has sold its entire stake in South Korean financial major Hana Financial Group Inc for $605 million, in an attempt to reduce the fund’s exposure to the financial sector, and increase its focus on more promising areas such as energy and resources.
Earlier yesterday, the island-nation’s sovereign wealth fund invested $400 million in Brazil’s Odebrecht Oil & Gas (OOG), a unit of diversified industrial conglomerate Odebrecht SA……………………………………….Full Article: Source

Posted on 22 October 2010 by VRS |  Email |Print

From Todayonline.com: The anonymous team behind socio-political news website Temasek Review has clarified that it has not changed its name - and will not do so until it gets an official request from investment firm Temasek Holdings, a posting on the website said.
On Wednesday, the website’s masthead was changed to “New Temasek Review” but the team said it was the result of it working on a new layout for the website. The unintended name change was discovered and rectified hours later, the team said……………………………………….Full Article: Source

Posted on 22 October 2010 by VRS |  Email |Print

From Temasekreview.com: We received an email today from a China Company named YGNetwork entitled “Notice of Intellectual Property-Trademark Name” informing us that a company named “Huaxia” is “registering the name “temasekreview” as their Internet Trademark and “temasekreview.cn”, “temasekreview.com.cn” , “temasekreview.asia” domain names, etc.
An Angela Zhang, supposedly from YGNetworks claims that after “an audit, we found the brand name been used by your company” and would like to check with us if we have any objections to the registration and if we have, to contact them (this is what our editors gather from the poorly written english, to the best of our ability)……………………………………….Full Article: Source

Posted on 22 October 2010 by VRS |  Email |Print

From Bloomberg: Mapletree Industrial Trust, controlled by Temasek Holdings Pte, jumped on its first trading day after raising S$938.5 million ($721 million) in an initial public offering to repay debt and buy properties in Singapore.
Mapletree Industrial, led by Chief Executive Officer Tham Kuo Wei, surged as much as 29 percent to S$1.20 from the sale price of 93 Singapore cents, the top end of the range marketed to investors……………………………………….Full Article: Source

Posted on 22 October 2010 by VRS |  Email |Print

From Nzherald.co.nz: To fully comprehend why the New Zealand Superannuation Fund (NZS) has changed the way it invests you will have to read ‘Modelling of asset returns and the economy for the 2010 Reference Portfolio Review’ by Aaron Drew.
Not that it will add to the comprehension for most of us, littered as it is with phrases like “dynamic stochastic system of equations that has a well-defined equilibrium to which variables will converge following a shock” and recurring cases of kurtosis……………………………………….Full Article: Source

Posted on 22 October 2010 by VRS |  Email |Print

From Atimes.com: AIA, the Asian unit of troubled US insurance giant AIG, is expected to announce pricing of its shares tomorrow in a sale that may raise US$20.5 billion as institutional demand outweighs subdued interest from retail investors in Hong Kong, where the shares will be listed next week. Kuwait Investment Authority will buy US$1 billion worth of stock.
China Investment Corp, the country’s US$300 billion sovereign wealth fund, leading Chinese insurers Ping An and China Life, and US fund manager John Paulson were also reported to be seeking stakes……………………………………….Full Article: Source

Posted on 22 October 2010 by VRS |  Email |Print

From Dothaneagle.com: Supporters of Amendment 3, a constitutional amendment that would take $100 million from the Alabama Trust Fund each year over the next 10 years to fund road and bridge projects, call it a no-brainer.
Opponents call it a fund raider. Voters will get the chance on Nov. 2 to decide if the proposal is a wise use of the reserves in the Alabama Trust Fund, or a spending spree not worth depleting the fund……………………………………….Full Article: Source

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