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Sovereign Wealth Funds Briefing 30.Mar 2011

Posted on 30 March 2011 by VRS |  Email |Print

South Korea has agreed to team up with the Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds, for joint investments, a South Korean presidential committee said.

The alliance could pave the way for South Korea’s state-run funds such as National Pension Service (NPS) and Korea Investment Corp (KIC) to expand their presence in the global financial market……………………………………..Full Article: Source

Posted on 30 March 2011 by VRS |  Email |Print

South Korea and the United Arab Emirates have agreed to closer cooperation to further the interests of their sovereign wealth funds, an official at Seoul’s presidential committee said Tuesday.

“Both nations agreed to step up efforts to support each other’s state-run funds to make better investments. For example, if the UAE wants to invest in East Asia and yet lacks information, Korea’s sovereign fund could help or jointly invest,” an official at the Presidential Council for Future & Vision said, adding that such cooperation is similar to that announced by Korea’s National Pension Service last year……………………………………..Full Article: Source

Posted on 30 March 2011 by VRS |  Email |Print

The Abu Dhabi Investment Authority (ADIA) - one of the world’s top five sovereign wealth funds based in Abu Dhabi, the United Arab Emirates (UAE) with total funds up to 800 trillion won ($718.0 billion) - will be using South Korean securities companies as its new trading window.

Additionally, talks are making headway for cooperation in semiconductor technology between the UAE, the world’s second largest system semiconductor manufacturer, and Korea, the world’s No. 1 producer of memory semiconductors……………………………………..Full Article: Source

Posted on 30 March 2011 by VRS |  Email |Print

“Chinese capital is not following short-term market trends but is related to a decision by China Investment Corporation, the Chinese sovereign wealth fund, to designate a local asset management firm to operate a fund to solely invest in the Korean market,” Park So-yeon, an analyst at Korea Investment & Securities, said in a report.

Oh Seung-hoon, an analyst at Daishin Securities, said it was significant that CIC created a fund to solely invest in Korea. “It means they highly evaluate the Korean capital markets along with other major emerging markets in India and Brazil.”…………………………………….Full Article: Source

Posted on 30 March 2011 by VRS |  Email |Print

Australia should use the proceeds from its resource-rich economy to counter its infrastructure backlog instead of establishing a sovereign wealth fund. That’s the call from UBS Global Asset Management, which calculates Australia’s infrastructure deficit at about $250 billion.

UBS’s head of investment strategy, Mark Rider, and its chief executive, John Fraser, said Australia needed better co-ordination between federal and state governments, as well as superannuation funds, to overcome its two-speed economy……………………………………..Full Article: Source

Posted on 30 March 2011 by VRS |  Email |Print

Norway’s government should spend less than 4 percent of the nation’s sovereign wealth fund in the next few years, as it takes into account the country’s economic expansion, the finance minister said.

The government will return to the fiscal spending rule this year, Sigbjoern Johnsen wrote today in an article published in Aftenposten……………………………………..Full Article: Source

Posted on 30 March 2011 by VRS |  Email |Print

Rivers State Gov. Rotimi Amaechi both surprised and shocked many people penultimate Friday with his disclosure that his administration was on the verge of going to court against the Federal Government over the Sovereign Wealth Fund (SWF).
While disclosing that the Rivers State Government has started setting aside N1billion monthly for an Independent Power Plant, the governor ‘advised’ the Federal Government to emulate his programme by equally saving from its 52 percent of the Federation Account………………………………………Full Article: Source

Posted on 30 March 2011 by VRS |  Email |Print

Sovereign wealth funds have returned to real estate, but it is hard to tell just how deeply they are diving in, because most transactions have been done through equity funds or other financing vehicles, and not by highly visible, direct acquisitions. “SWFs have gotten smarter,” said Hans Nordby, director of advisory services for CoStar Group.
“They are working through funds and keeping their name out of the newspapers. Look for even more of this money in 2011, although it may be hard to see.”…………………………………….Full Article: Source

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