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Sovereign Wealth Funds Briefing 09.May 2011

Posted on 09 May 2011 by VRS |  Email |Print

Sovereign wealth funds worldwide are expected to grow by 50% in two years to an estimated combined $6 trillion in assets, according to data from the Milken Institute.
The growth is expected from a combination of the creation of more sovereign wealth funds and an improving economy, Patrick Mitchell, senior managing director and portfolio manager at Guggenheim Partners, said Wednesday at the Milken Institute Global Conference in Beverly Hills, Calif……………………………………….Full Article: Source

Posted on 09 May 2011 by VRS |  Email |Print

In a clear trend that has arisen since the global financial crisis and gathered momentum as a result of the ongoing events in West Asia, some of the biggest sovereign wealth funds have stared looking at India where their wealth could possibly be moved.
Six of the top 10 sovereign wealth funds, each of which manages billions of dollars in investments, are now registered with the Securities & Exchange Board of India (Sebi). Five have entered India since 2008……………………………………….Full Article: Source

Posted on 09 May 2011 by VRS |  Email |Print

Singapore state investment fund Temasek Holdings has decided to drop its plans to buy private equity major TPG Capital’s stake in India’s largest commercial vehicle financing company Shriram Transport Finance , two people familiar with the matter said.
“Temasek, after evaluating the company (Shriram Transport), has taken a call not to go ahead with the stake buy,” said a person with direct knowledge of the deal. Shriram Transport and TPG were not available for comment……………………………………….Full Article: Source

Posted on 09 May 2011 by VRS |  Email |Print

Government of Singapore Investment Corp. Deputy Chairman Tony Tan said Monday that a major financial and economic crisis could erupt if the U.S. loses its AAA credit rating in a disorderly manner, while significant structural problems still plague the global economy.
“We face the possibility of another major financial and economic crisis if the world’s risk-free asset, hitherto U.S. bonds, loses its AAA credit rating in a disorderly manner,” Tan, who is also GIC’s executive director, said in a speech at a conference organized by the sovereign wealth fund……………………………………….Full Article: Source

Posted on 09 May 2011 by VRS |  Email |Print

Australia’s Future Fund has awarded a new mandate to London-based alternative investment firm, Winton Capital Management. The $74.6 billion Future Fund, set up to help future Australian Governments pay the cost of public sector superannuation liabilities, awarded the mandate some time in the March quarter.
Winton spokesman Robin Egger said the actively managed alternatives firm invests in managed futures……………………………………….Full Article: Source

Posted on 09 May 2011 by VRS |  Email |Print

The Australian Greens want the Productivity Commission to investigate whether Australia should establish a sovereign wealth fund to save money for tough times ahead. Leader Bob Brown will move a motion in the Senate this week calling on the government to refer the issue to its independent advisory body.
“A sovereign wealth fund could underpin Australia’s move to a low-carbon future, looking beyond the current mining boom,” Senator Brown said in a statement on Sunday……………………………………….Full Article: Source

Posted on 09 May 2011 by VRS |  Email |Print

Right now, the economic winds are blowing us towards becoming a specialist resource exporting nation hugely dependent on just one market, China.
It is the sort of scenario - too many eggs in one basket - that is ringing alarm bells, that Australia, having abandoned manufacturing and industrial diversity, may become hostage to increasingly volatile global forces……………………………………….Full Article: Source

Posted on 09 May 2011 by VRS |  Email |Print

The Kuwait Fund for Arab Economic Development (KFAED) on Sunday announced to participate in the financing of Bhasha Dam and desilting of Tarbela Dam projects in Pakistan.
During a separate meeting with Chief Executive Officer (CEO) of the Kuwait Investment Authority (KIA) Bader Mohammad Al Saad, the President also invited KIA to invest in Pakistan’s infrastructure projects, offering to set up special ndustrial zone in the country where the foreign investors will be provided with tax incentives, captive power and the facilities to export their products……………………………………….Full Article: Source

Posted on 09 May 2011 by VRS |  Email |Print

The airlines—which is half-owned by the Gulf state’s sovereign wealth firm Qatar Investment Authority—is also expected to sign a deal for a 33 percent stake in the European all-cargo airline, Cargolux, in a few weeks, Reuters reported its chief executive saying on Monday.
Cargolux, which is considered to be Europe’s largest all-cargo airline, has previously said it was in talks to sell stakes to a strategic investor……………………………………….Full Article: Source

Posted on 09 May 2011 by VRS |  Email |Print

“The most fascinating thing about the investment business today is that people will agree on the micro facts, but they hesitate to add it all up,” Mohamed El-Erian recently told a rapt audience of sovereign wealth fund officials.
“Once people acknowledge that the facts are changing, then they have to be open to the notion that when it is all brought together, the world is going to look different,” the former International Monetary Fund deputy director and Harvard University endowment chief explained………………………………………Full Article: Source

Posted on 09 May 2011 by VRS |  Email |Print

Alaskans seem glum these days. Legislators are fighting over the budget and oil taxes. There’s declining oil production. Our big gas pipeline dream seems down the tube. With all that, let’s ponder something we can feel really good about.
That is our Alaska Permanent Fund. It’s now back above $40 billion in market value and throwing off well more than billion dollars a year in cash income, not even considering gains in value. The fund took a big hit in the recession, dropping a third in value like our own 401(k)s, but it’s now recovered the lost ground, and more………………………………………Full Article: Source

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