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Sovereign Wealth Funds Briefing 23.Mar 2011

Posted on 23 March 2011 by VRS |  Email |Print

David MurrayFuture Fund chairman David Murray has signed on for a further 12 months at the sovereign wealth fund amid controversy over an alleged board split. Treasurer Wayne Swan re-appointed Murray for a further year, saying in a press release that the chairman did not want another full five-year term for personal reasons.
It was reported in the mainstream media that fellow board member Trevor Rowe had been fighting Murray’s reappointment……………………………………….Full Article: Source

Posted on 23 March 2011 by VRS |  Email |Print

The $19 billion New Zealand Superannuation Fund is having a strong year to the end of February, but that was before the earthquake, tsunami and nuclear crisis hit Japan.
New Zealand’s retirement nest egg made a 3 per cent return in February, with a strong rally in world sharemarkets, taking its financial year-to-date return to 22.5 per cent……………………………………….Full Article: Source

Posted on 23 March 2011 by VRS |  Email |Print

Singapore sovereign wealth fund GIC has increased its stake in US-listed Chinese video games firm Shanda Games to 10.3 percent as of March 14, from 8.2 percent in December, according to a U.S. filing late on Tuesday.
GIC, one of the world’s largest wealth funds with over $200 billion in assets, first bought Shanda shares in November 2009, shortly after the Chinese firm’s initial public offering in the United States……………………………………….Full Article: Source

Posted on 23 March 2011 by VRS |  Email |Print

The government’s new sovereign investment fund may reach $10 billion and will be managed by a wholly owned unit of Vneshekonombank, Economic Development Minister Elvira Nabiullina said.
The state will act as a co-investor, providing 10 percent to 15 percent of financing for projects, Nabiullina said, adding that the investment vehicle will be structured as a mutual fund. The documents necessary to create the fund will be ready by June 1……………………………………….Full Article: Source

Posted on 23 March 2011 by VRS |  Email |Print

With clouds gathering above a fiscally distraught Portugal, finance ministers of the 17 countries that share the euro as a currency have firmed the details of a new permanent bailout mechanism for member-states in need.
The move comes only days ahead of a self-imposed deadline for the European Union (EU) to sound a clear response to market concerns about the sovereign debt crises that have been plagueing many of the region’s economies since last year……………………………………….Full Article: Source

Posted on 23 March 2011 by VRS |  Email |Print

The Federal Government recently sent to the National Assembly a Bill for an Act to Establish the Nigerian Sovereign Investment Authority to Build a Savings Base for Future Generations, Enhance Development of the Infrastructure Sector in Nigeria, Assist Fiscal Stability in Certain Circumstances and for Related Matters.
The planned agency, which is dubbed the Sovereign Wealth Fund (SWF), is essentially a rechristened Excess Crude Account (ECA) that will be vested with legal existence and be given rules to guide its management……………………………………….Full Article: Source

Posted on 23 March 2011 by VRS |  Email |Print

Pools of money derived from a country’s reserves, which are set aside for investment purposes that will benefit the country’s economy and citizens. The funding for a sovereign wealth fund (SWF) comes from from central bank reserves that accumulate as a result of budget and trade surpluses, and even from revenue generated from the exports of natural resources.
The types of acceptable investments included in each SWF vary from country to country; countries with liquidity concerns limit investments to only very liquid public debt instruments……………………………………….Full Article: Source

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