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Sovereign Wealth Funds Briefing 14.Feb 2011

Posted on 14 February 2011 by VRS |  Email |Print

From Bloomberg: The U.S. government and American International Group Inc. have contacted sovereign wealth funds in Asia and Europe about buying a “large” portion of a planned initial offering, the Financial Times reported.
Informal contacts were made with the funds about investing in the IPO expected to take place in May, the newspaper said, citing unidentified people familiar with the situation……………………………………….Full Article: Source

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Posted on 14 February 2011 by VRS |  Email |Print

From Businessinsider.com: Illinois is trying to get sovereign wealth funds to buy nearly $4 billion of bonds so the state can pay its annual pension obligations. John Sinsheimer, the state’s director of capital markets, has been wooing investors investors in Europe and Asia, according to the FT.
He said the state is also trying to raise money from big banks and insurance companies in the U.S. before the sale, tentatively scheduled for Feb. 17……………………………………….Full Article: Source

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Posted on 14 February 2011 by VRS |  Email |Print

From Gulfnews.com: The Oman Investment Fund (OIF) was established in 2006 under a royal decree of Sultan Qaboos Bin Saeed. The fund’s sole shareholder is the government and its governing body is the Financial Affairs and Energy Resources Council.
Similar to other sovereign wealth funds in the GCC, it acts as an investment vehicle and makes equity, private equity, and real estate investments globally……………………………………….Full Article: Source

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Posted on 14 February 2011 by VRS |  Email |Print

From WSJ: Libya’s small population of about 6.5 million and its massive oil wealth give it more room to manage economic woes. A few years ago, he created a sovereign wealth fund that has bought up large shares of some of the world’s best-known corporations, including banking, energy and media interests.
In the wake of the resignation of Egypt’s Hosni Mubarak, online activists are threatening to test one of the Arab world’s most repressive regimes: Col. Moammar Gadhafi’s Libya……………………………………….Full Article: Source

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Posted on 14 February 2011 by VRS |  Email |Print

From Arabianbusiness.com: Kuwait’s Gulf Bank booked provisions worth KD113m ($403.3m) in 2010 to meet losses arising from its credit portfolio. Gulf Bank, in which sovereign wealth fund Kuwait Investment Authority (KIA) owns a 16 percent stake, said it doesn’t need to increase capital based on the current financial strategy the bank is following.
The bank had set aside KD111m in 2009 to meet investment and loan losses……………………………………….Full Article: Source

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Posted on 14 February 2011 by VRS |  Email |Print

From Topnews.ae: Abu Dhabi-owned investment fund Mubadala and Chicago-based asset manager Mesirow Financial are all set to strike a deal for setting up a new joint venture company. The new entity would offer services in risk management in commodity and in the currency market.
Invest AD, a firm owned by Abu Dhabi Investment Council (ADIC), is one of the leading sovereign wealth funds in Abu Dhabi. Investment fund Mubadala is yet to obtain regulatory approvals to start its operations in the country……………………………………….Full Article: Source

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Posted on 14 February 2011 by VRS |  Email |Print

From Mydigitalfc.com: Norway’s Sovereign Wealth Fund has upped its India infrastructure exposure in the past two to three months with the $500 billion monster buying shares in stocks such as Indiabulls Power, Lanco Infratech, Nagarjuna Construction and IVRCL Infrastructure from the open market by spending Rs 100 crore.
The Government Pension Fund (Global), managed by Sebi-registered Norges Bank, seems enthused after posting its fifth-largest quarterly return in third quarter and has since October 2010 consistently bough infra stocks, which have been underperforming for the past two to three years……………………………………….Full Article: Source

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Posted on 14 February 2011 by VRS |  Email |Print

From AFP: Singapore state investment firm Temasek Holdings said it had paid a 15 billion rupiah ($1.7 million) fine imposed for breaching anti-competition laws in Indonesia’s telecoms sector.
In Friday’s statement, Temasek confirmed paying the fine imposed by Indonesia’s Business Competition Supervisory Commission, or KPPU……………………………………….Full Article: Source

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Posted on 14 February 2011 by VRS |  Email |Print

From Calgaryherald.com: Led by the nstitutional sector, retail investors are now embracing so-called ‘Ethical Funds’ - But there is still a Long way to go, say experts.
The institutional investors -large pension plans, asset owners, sovereign wealth funds -are becoming much more vocal in shareholder meetings in pressing executives for answers about how they address ESG factors as another layer of risk to the long-term sustainability of the company, says Jantzi……………………………………….Full Article: Source

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