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Sovereign Wealth Funds Briefing 28.Oct 2010

Posted on 28 October 2010 by VRS |  Email |Print

From Zawya.com: The value of their combined global assets is estimated to have breached the $4 trillion mark this month, led by strong expansion in the assets of commodity-backed SWFs. The balance of investing power has also shifted from the Middle East to Asia, according to the latest research.
Norway’s Government Pension Fund Global, or GPFG, announced that it topped three trillion crowns for the first time, bringing its overall asset value to $512 billion. According to research by the Sovereign Wealth Fund Institute in Las Vegas, which tracks these funds and analyses their impact on global finance, Norway’s growth has pushed global SWF assets past the $4 trillion mark for the first time, from $3.9 trillion at the end of September……………………………………….Full Article: Source

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Posted on 28 October 2010 by VRS |  Email |Print

From Bernama: Malaysia is capable of getting other major Muslim nations to participate in the proposed Supra-Sovereign Wealth Fund (SSWF) to be established by the Islamic Development Bank (IDB) due to its reputation as a leader in Islamic finance globally, says an Islamic fund manager.
OSK-UOB Islamic Fund Management Chief Executive Officer & Chief Investment Officer, Md Noor A Rahman, said Malaysia can lead the way as it is far ahead in Islamic finance and had a track record of over 20 years……………………………………….Full Article: Source

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Posted on 28 October 2010 by VRS |  Email |Print

From Bloomberg: Mubadala Development Co., an Abu Dhabi government investment unit, wants to expand in emerging markets over the coming years as the company diversifies its investments.
A “gaping hole is going to be addressed in the next two or three or four years and it’s about emerging market exposure,” Chief Operating Officer Waleed Al Mokarrab Al Muhairi said today at the World Economic Forum in Marrakesh, Morocco………………………………………Full Article: Source

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Posted on 28 October 2010 by VRS |  Email |Print

From Zawya Dow Jones: Bahrain Mumtalakat Holding Co., the country’s sovereign wealth fund, will use the expected $540 million in proceeds from the initial public offering of Aluminium Bahrain to boost its portfolio of liquid investments, Chief Executive Officer Talal Al Zain said Wednesday.
Mumtalakat, the biggest shareholder in Aluminium Bahrain, also known as Alba, is in the process of selling up to 163.3 million shares as part of an IPO that started Oct. 24 and will see the aluminum firm’s shares listed on the Bahraini bourse and global depositary receipts representing the ordinary shares to be listed on the London Stock Exchange……………………………………….Full Article: Source

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Posted on 28 October 2010 by VRS |  Email |Print

From Allafrica.com: The enactment of a law seeking to establish the National Sovereign Wealth Fund of the Federation to replace the Excess Crude Account (ECA) is suffering a major delay in the National Assembly, Daily Trust can reveal.
President Goodluck Jonathan had on September 26, this year disclosed that he had forwarded the bill to the National Assembly to create a sovereign wealth fund and that federal and state governments had set aside $1 billion in seed capital for the fund……………………………………….Full Article: Source

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Posted on 28 October 2010 by VRS |  Email |Print

From Bespacific.com: China’s ruling executive body, the State Council, established the China Investment Corporation (CIC), a sovereign wealth fund, in September 2007 to invest $200 billion of China’s then $1.4 trillion in foreign exchange reserves.
As with other sovereign wealth funds worldwide, the CIC’s existence allows China to invest its reserves in a wide range of assets, including stocks, bonds, and hedge funds. After a rocky start in which it incurred losses of 2.1% on its global investments in 2008 – caused in part by aftereffects of the global financial crisis of 2007 – the CIC’s rate of return in 2009 rose to 11.7%……………………………………….Full Article: Source

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Posted on 28 October 2010 by VRS |  Email |Print

From Pionline.com: The NZ$16 billion (US$12.07 billion) New Zealand Superannuation Fund, Auckland, has upped its exposure to global equities by NZ$2.2 billion following a portfolio review earlier this year.
The fund increased its global share holdings, achieved mainly via derivatives, in line with the updated strategic asset allocation benchmark, now dubbed the “reference portfolio,” according to a fund spokesperson……………………………………….Full Article: Source

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Posted on 28 October 2010 by VRS |  Email |Print

From Sovereignsociety.com: In October, Norway’s sovereign wealth fund, managed by the Norges Bank (central bank), topped NOK 3 trillion for the first time in history, the equivalent of $518 billion dollars. That’s a huge leap from where it started back in 1996, with just NOK 1.98 billion or $258 million dollars.
The Norwegian wealth fund got slammed in the 2008 credit crash but has since recovered sharply with shrewd investments in the emerging markets among others. The fund holds approximately 1% of all global tradable stocks and is the second-largest sovereign wealth fund after Abu Dhabi’s……………………………………….Full Article: Source

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