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Sovereign Wealth Funds Briefing 11.Nov 2010

Posted on 11 November 2010 by VRS |  Email |Print

From Straitstimes.com: Temasek Holdings will take up Bank of America’s entire entitlement in China Construction Bank’s rights issue, a spokesman for the Singapore state investor said on Thursday.
CCB, China’s No 2 lender, plans to raise up to 61.6 billion yuan (S$11.9 billion) in Asia’s biggest rights issue outside Japan to shore up capital after a lending binge in 2009……………………………………….Full Article: Source

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Posted on 11 November 2010 by VRS |  Email |Print

From Straitstimes.com: Temasek Holdings is making a play for a slice of the booming online gaming business. The sovereign fund is heading a consortium of investors set to pump US$60 million (S$77 million) into United States-based online gaming studio Gazillion Entertainment.
The privately held firm, which last month launched Lego Universe, an online game based on the building block toy, is currently working on a Marvel Entertainment superhero title called Super Hero Squad Online, slated to be released early next year……………………………………….Full Article: Source

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Posted on 11 November 2010 by VRS |  Email |Print

From Btimes.com.my: Khazanah Nasional Bhd, Malaysia’s state investment company, is selling a 6 per cent stake in Malaysia Airports Holdings Bhd for RM396 million (US$128 million), two people with knowledge of the matter said.
Khazanah is selling 66 million shares at RM6 each, said the people, who declined to be identified as the deal hasn’t been publicly announced. Malaysia Airports shares closed yesterday at RM6.12 after jumping 54 per cent this year……………………………………….Full Article: Source

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Posted on 11 November 2010 by VRS |  Email |Print

From Bloomberg: Norway’s government will require the country’s $520 billion oil fund to limit investments in junk- rated debt amid growing concern peripheral Europe’s fiscal crisis may be escalating.
The Government Pension Fund Global, the world’s second- biggest sovereign wealth fund, will next year be expected to try to cap its holdings of non-investment grade debt at 3 percent of its total fixed-income portfolio, said Bunny Nooryani, a spokeswoman at Norges Bank Investment Management, which runs the fund, in an e-mailed reply to questions……………………………………….Full Article: Source

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Posted on 11 November 2010 by VRS |  Email |Print

From Pionline.com: Norway’s Government Pension Fund-Global, Oslo, will face a limit of 3% of all fixed-income assets on the fund’s investment in bonds rated below investment grade, effective Jan. 1, the Norwegian Ministry of Finance announced Wednesday.
The ministry is implementing its first limit on junk bond investments at the 3.05 trillion Norwegian kroner ($524 billion) fund as a way to limit credit risk and to supplement the 1.5% tracking error limit in place on the fund’s entire portfolio, Anders Lande, spokesman, said in an e-mail response to questions……………………………………….Full Article: Source

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Posted on 11 November 2010 by VRS |  Email |Print

From Reuters: Halyk Bank, Kazakhstan’s No.2 lender by assets, plans by the end of the first half of 2011 to repurchase shares acquired by the state during the financial crisis last year. Kazakh sovereign wealth fund Samruk-Kazyna bought a 26.8 percent stake in Halyk in 2009 as part of a government anti-crisis programme.
The fund said in March it could possibly sell the stake in 2010……………………………………….Full Article: Source

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Posted on 11 November 2010 by VRS |  Email |Print

From Huffingtonpost.com: While negotiating with foreign banks, Kazakhstan set up the National Welfare Fund (Samruk-Kazyna), a domestic type of sovereign wealth fund. It is not the typical sovereign wealth fund of oil producing countries; it is closer to the French model that focuses on domestic investments and initiatives.
Prime Minister Kazimov chairs the Board of Directors who, last month, approved a “Draft of Development Strategy of the Fund up to 2020 concerning determination of target assets structure, determination of portfolio companies’ priorities, as well as access into securities market was considered at the meeting. Besides the issues of Fund’s participation in implementation of the State program for forced industrial-innovative development for 2010-2014.”………………………………………Full Article: Source

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Posted on 11 November 2010 by VRS |  Email |Print

From Thenational.ae: Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds, has joined US and Australian funds to buy the Port of Brisbane from Australia’s Queensland government for A$2.1 billion (Dh7.71bn).
The investment in one of Australia’s most important container ports expands ADIA’s income-generating infrastructure assets and comes after recent investments in London Gatwick Airport and a long-term lease on Chicago’s parking meters……………………………………….Full Article: Source

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Posted on 11 November 2010 by VRS |  Email |Print

From Bloomberg: Kuwaiti opposition lawmakers said they may question Finance Minister Mustafa al-Shimali over the Kuwait Investment Authority’s handling of the sale of a stake in Mobile Telecommunications Co., known as Zain, to Etisalat.
The four-member Popular Action Bloc “has decided to put its political responsibilities into action” and will question al-Shimali if the investment authority, the country’s sovereign wealth fund, approves the transaction, the bloc said in a statement distributed to the press……………………………………….Full Article: Source

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Posted on 11 November 2010 by VRS |  Email |Print

From Eeo.com.cn: A source close to China Investment Corporation’s (CIC) first overseas investment subsidiary—China Investment International (Hong Kong) Co., Ltd. (hereinafter referred to as CIC International)—said that the subsidiary formally started business operations.
It has been two months since the branch registered in Hong Kong on September 10. During September, CIC also celebrated the third anniversary of its founding……………………………………….Full Article: Source

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