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Sovereign Wealth Funds Briefing 16.May 2011

Posted on 16 May 2011 by VRS |  Email |Print

Jin LiqunChina Investment Corp., is about to get a new round of capital injection from the government under a new long-term funding structure, New Century Weekly reported Monday on its website, quoting an unnamed source familiar with the matter as saying.
As before, the sovereign wealth fund will have its capital boosted by the Ministry of Finance, which will issue special treasury bonds to buy foreign exchange reserves to fund the injection, the source was quoted as saying……………………………………….Full Article: Source

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Posted on 16 May 2011 by VRS |  Email |Print

China’s sovereign wealth fund has been preparing to receive new capital. A senior official at China Investment Corporation (CIC) said late on Thursday that the fund was working out a way to get fresh cash.
“We will eventually work out a mechanism through which we will have continued funding,” said Jin Liqun, chairman of the fund’s supervisory board. CIC is believed to manage some $300bn (£185bn) in assets around the world……………………………………….Full Article: Source

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Posted on 16 May 2011 by VRS |  Email |Print

The government has abandoned plans to give the China Investment Corp another one-off injection of funds and instead plans annual cash infusions which could be worth “tens of billions” of dollars a year, Century Weekly reported Monday.
The magazine cited unidentified sources as saying that the Ministry of Finance will sell special treasury bonds to purchase foreign exchange reserves from the central bank and for injection into the sovereign wealth fund……………………………………….Full Article: Source

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Posted on 16 May 2011 by VRS |  Email |Print

The largest sovereign wealth funds in the world are meeting in Beijing this week. The meeting comes at a time when there are increasing calls for more transparency about how these funds invest.
Duncan Innes-Ker from the Economist Intelligence Unit (EIU) told the BBC that China is looking to reassure the world about its sovereign wealth funds……………………………………….Full Article: Source

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Posted on 16 May 2011 by VRS |  Email |Print

Australia’s most populous state, New South Wales, says it is scouring the world’s sovereign-wealth funds for help financing the construction of critical infrastructure worth billions of dollars.
It should look no further than the oil-rich sheikdoms of the Middle East, which after a long history of investing overseas are poised to look seriously at the resource-rich Pacific nation for the first time……………………………………….Full Article: Source

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Posted on 16 May 2011 by VRS |  Email |Print

With the passage of the Sovereign Wealth Fund bill by the Senate, analysts believe Nigeria is set to play in the $4 trillion global alternative assets club, address its critical infrastructure deficit and attract needed investments.
By the start of this year, assets managed by sovereign wealth funds (SWFs) around the world rose 11 percent to $4 trillion……………………………………….Full Article: Source

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Posted on 16 May 2011 by VRS |  Email |Print

Minister of Finance, Olusegun Aganga, said the National Sovereign Wealth Fund bill that is being passed by the National Assembly would straighten the fiscal framework of Nigeria for better management of resources.
The bill for the setting up of the fund was approved by the Senate last week, but the House of Representatives must also approve it before it becomes law, the minister said……………………………………….Full Article: Source

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Posted on 16 May 2011 by VRS |  Email |Print

Strong oil prices will sharply widen the external fiscal balance of Gulf hydrocarbon exporters in 2011 and this will boost their foreign assets by a staggering $195 billion at the end of the year. More than one-third of these assets are held by sovereign wealth funds (SWFs), including the Abu Dhabi Investment Authority (ADIA).
Washington-based Institute for International Finance (IIF) said that while most of these assets are currently invested in the international financial system, there had also been a rising interest in the domestic and regional markets until recent events……………………………………….Full Article: Source

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Posted on 16 May 2011 by VRS |  Email |Print

Heads of Goldman Sachs, Abu Dhabi’s sovereign wealth fund, and other funds are visiting Russia later this month to discuss the country’s newly planned investment fund, according to the Dow Jones Newswires.
Stanislav Voskresensky, the country’s deputy minister of economic development, told the news service that the newly created government-backed fund — Russian Direct-Investment Fund — would be targeted at private-equity investors……………………………………….Full Article: Source

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Posted on 16 May 2011 by VRS |  Email |Print

They manage billions of dollars of public money, yet there is little information about how some sovereign wealth funds (SWF) invest.
This week, the largest sovereign wealth funds in the world meet in Beijing, at a time when there are increasing calls for more transparency……………………………………….Full Article: Source

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Posted on 16 May 2011 by VRS |  Email |Print

Sovereign Wealth Funds (SWF) remain important conduits for the cross border movement of capital and are an integral part of international capital markets. Like other investors, SWFs were affected by the global financial crisis and are reviewing their objectives and asset allocations.
What is their role in the post-crisis world where demand for long-term investment funds is expected to continue rising, and the global economy undergoes a process of rebalancing? This is one of many interesting issues covered in a new book “Economics of Sovereign Wealth Funds—Issues for Policymakers,” edited by Udaibir S. Das, Adnan Mazarei, and Han van der Hoorn from the International Monetary Fund (IMF)………………………………………Full Article: Source

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