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Sovereign Wealth Funds Briefing 01.Nov 2010

Posted on 01 November 2010 by VRS |  Email |Print

From Gulfnews.com: Sovereign wealth funds (SWFs), around for nearly 50 years, have only recently given rise to concern in advanced countries. Edwin Truman of the Peterson Institute, a Washington-based economic think-tank, suggests this is because their rapid recent growth in developing countries reflects a shift in global economic power.

One must also consider the role of governments. Many of those behind the funds are not traditional friends of the West, and there is a growing fear that SWFs will be used for political and strategic ends, especially since China joined in…………………………………….Full Article: Source

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Posted on 01 November 2010 by VRS |  Email |Print

From Gulfnews.com: Sovereign wealth funds have undergone a massive transformation by embracing the geographic distribution of their portfolios. Financial sector holdings in developed nations continue to dominate the portfolios of sovereign wealth funds (SWFs) worldwide as banks benefit from bailout and stimulus packages implemented by several OECD nations.

While a lot of smaller banks succumbed to the recession in the United States and Europe over 2008 and 2009, the “too big to fail” institutions have been the recipients of trillions of dollars in bailout cash. These are now beginning to pay back this cash, clean up their balance sheets and emerge profitable once again…………………………………….Full Article: Source

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Posted on 01 November 2010 by VRS |  Email |Print

From Gulfnews.com: Ownership and transparency issues have been raised about the sovereign wealth fund investments for many years. Alternatively hailed as the saviours of last resort and reviled as opportunistic investors, sovereign funds have faced accusations of secrecy, political agenda and opacity.

However, the trend in the past two years has been turning towards greater disclosure, with several regional funds publishing detailed data…………………………………….Full Article: Source

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Posted on 01 November 2010 by VRS |  Email |Print

From Bloomberg: U.S. infrastructure-spending plans are “too little, too late” and should be increased in preference to quantitative easing, said Zhou Yuan, head of asset allocation at China’s $300 billion sovereign wealth fund. Proposed spending of about $500 billion over six years on infrastructure should be doubled, Zhou said in an interview on Oct. 30. China Investment Corp. may invest, and wouldn’t expect to own completed projects, he said.

“Infrastructure of this kind will serve to provide more jobs” than further quantitative easing, Zhou said in New York, while attending a conference hosted by the Chinese Finance Association. Low interest rates in the U.S. are his “top concern,” he said…………………………………….Full Article: Source

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Posted on 01 November 2010 by VRS |  Email |Print

From Vietnamnet.vn: The ministry’s (MoF) Minister Vu Van Ninh said the fund reached the planned target of price stabilisation by the government. Under the MoF’s instruction, the fund was built from surcharges collected from petrol and oil retailing and kept by petroleum traders which would be used for price stabilisation.

Ninh said in other countries, petrol prices were often adjusted by world market prices, which led to different daily pricing levels…………………………………….Full Article: Source

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Posted on 01 November 2010 by VRS |  Email |Print

From Smh.com.au: The Future Fund has bought a shopping centre in Melbourne’s outer suburbs and invested millions of dollars in US plantation forests, its latest annual report reveals. And fund managers, anticipating more trouble in financial markets, have adjusted their investment strategy by increasing cash and exposure to fast-growing economies while reducing exposure to debt-related investments.

The fund reported returns of 10.6 per cent for the latest financial year despite a negative 1 per cent return in the final quarter…………………………………….Full Article: Source

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