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Sovereign Wealth Funds Briefing 08.Feb 2011

Posted on 08 February 2011 by VRS |  Email |Print

From Globest.com: Norway’s massive pension fund is likely to target further property investments in UK or France as the next destination for its $27 billion allocation after its first real estate purchase of a 25% parcel in London’s Regent Street for $730 million.
Øystein Sjølie, a spokesman for Norges Bank Investment Management, the division of the Norwegian central bank that runs the $646 billion Norwegian Government Pension Fund, says the mandate from the Finance Ministry is to target western Europe, “so apart from London it’s France, probably the Paris region which is a natural target… The next purchase will probably be in the United Kingdom or France.”………………………………………Full Article: Source

Posted on 08 February 2011 by VRS |  Email |Print

Samruk KazynaFrom Centralasianewswire.com: Kazakhstan’s Samruk-Kazyna sovereign wealth fund aims to lead a rapid industrial modernization drive of Central Asia’s biggest economy through 2015, according to its head Kairat Kelimbetov.
“Kazakhstan has one of the best models of government asset management in the CIS [Commonwealth of Independent States] region. But we still have much to do to achieve the strategic goals of modernizing the economy of Kazakhstan,” Kelimbetov said……………………………………….Full Article: Source

Posted on 08 February 2011 by VRS |  Email |Print

From Pionline.com: Alaska Permanent Fund Corp., Juneau, returned 14.5% for the first six months of its fiscal year 2011, ended Dec. 31, with $38.4 billion, according to a news release from the fund.
The fund’s $19.4 billion equities portfolio was the strongest performer for the six months. U.S. equities returned 25.4% for the period, while international equities returned 24.6% and global equities returned 24%……………………………………….Full Article: Source

Posted on 08 February 2011 by VRS |  Email |Print

From Guardian: The figure for pension fund assets dwarfs the $3.5tn amassed by sovereign wealth funds and the $2.5tn of foreign debt owned by the Chinese government.
The steep rise in assets should give pension savers some comfort that commitments to a guaranteed retirement income will be honoured, but experts pointed out that the global asset/liability ratio is still well down from its 1998 level……………………………………….Full Article: Source

Posted on 08 February 2011 by VRS |  Email |Print

From Minyanville.com: The Abu Dhabi Investment Authority is reportedly in talks with ex-BP CEO Tony Hayward so he can ruin the emirate’s sovereign wealth fund next. According to reports, representatives from the fund have approached Hayward to to set up a new oil company.
Yes, the very man who bungled BP’s response to the Deepwater Horizon blowout so badly, he was run out of town on a rail, . A very plush, well-appointed rail, but a rail nonetheless……………………………………….Full Article: Source

Posted on 08 February 2011 by VRS |  Email |Print

From Busiweek.com: The National Social Security Fund (NSSF) is partnering with commercial banks to collect members’ social security contributions starting this month.
This will require using an automated system linked to the fund, the Managing Director, Mr Richard Byarugaba announced in Kampala last week……………………………………….Full Article: Source

Posted on 08 February 2011 by VRS |  Email |Print

From Reuters: Nonetheless, last year was far healthier and more sustainable than 2009, when spending was dominated by sovereign wealth fund China Investment Corporation’s purchases of distressed financial assets.
In 2010, a panoply of firms invested in a range of sectors, including the first large resource investment by once-spurned China National Off-Shore Oil Corporation. Last year was a solid foundation for Chinese investment to raise its abysmal performance relative to American GDP……………………………………….Full Article: Source

Posted on 08 February 2011 by VRS |  Email |Print

From Qfinance.com: It seems that sovereign wealth funds are the latest “scary” thing in the media – perhaps scarier than high-frequency traders, Irish banks, Greek tax collectors or U.S. subprime borrowers. But there’s a difference: where the latter may blow up an economy, SWFs merely threaten to take it over, or at least its commanding heights (whatever those are these days).
Sovereign wealth funds are not a terribly new idea of course: Kuwait’s sovereign wealth fund dates back to 1953, Norway’s to 1967. But, with assets of around $3 trillion today, they could shortly expand to $9 trillion or more – almost the size of the U.S. national debt. Sobering numbers to be sure……………………………………….Full Article: Source

Posted on 08 February 2011 by VRS |  Email |Print

From Bloomberg: Temasek Holdings Pte’s executive director and president, Hsieh Fu Hua, will help to oversee the Singapore-owned investment company’s Fullerton Fund Management Co. as the unit seeks a new chief executive officer.
Choy Peng Wah will step down as deputy CEO of Fullerton effective Feb. 11, the Temasek unit said in an e-mailed response to questions. The move will leave Fullerton without a leader after its former CEO, Gerard Lee, left to join Lion Global Investors Ltd. in November……………………………………….Full Article: Source

Posted on 08 February 2011 by VRS |  Email |Print

From Allafrica.com: The Central Bank of Nigeria (CBN) said Nigeria’s foreign exchange reserves dropped slightly to $33.12 billion by the end of January from $33.53 billion two weeks earlier and remain down more than a quarter from a year ago.
Daily Champion recalls that the nation’s foreign reserves had declined over the past 12 months despite rising oil prices and production, raising concerns about government spending in the run-up to April elections……………………………………….Full Article: Source

Posted on 08 February 2011 by VRS |  Email |Print

From Chosun.com: Korea’s foreign currency reserves have reached a new record in just three months and will soon exceed US$300 billion. The Bank of Korea said Monday forex reserves totaled $295.96 billion as of the end of January, up $4.39 billion from a month ago.
That is $2.61 billion more than the previous record in October last year and just $4 billion shy of the $300 billion mark……………………………………….Full Article: Source

Posted on 08 February 2011 by VRS |  Email |Print

From RTTNews: Singapore’s total reserve assets rose to S$290.5 billion in January from S$289 billion in the previous month, the Monetary Authority said on Monday.
The city-state’s special drawing rights amounted to S$2 billion, while its reserve position with the International Monetary Fund was at S$502.4 million……………………………………….Full Article: Source

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