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Sovereign Wealth Funds Briefing 19.May 2011

Posted on 19 May 2011 by VRS |  Email |Print

Robert BenmoscheAmerican International Group’s ballyhooed stock offering looms early next week, and apparently the firm’s promotional tour is bearing fruit.
The Wall Street Journal reports today that sovereign wealth funds in Singapore and Kuwait have expressed interest in the AIG sale. Earlier in the week, the Journal reported that underwriters had garnered interest for about of the $9 billion offering……………………………………….Full Article: Source

Posted on 19 May 2011 by VRS |  Email |Print

Olusegun AgangaMinister of finance Wednesday said that the establishment of the Sovereign Wealth Fund (SWF) would help fast track the development of infrastructure in the country and also establish financial discipline.
Aganga told reporters shortly after the weekly Federal Executive Council (FEC) meeting at the Presidential Villa, Abuja, that the SWF was responsible for the over subscription of the Euro Bond issued earlier in the year by Nigeria……………………………………….Full Article: Source

Posted on 19 May 2011 by VRS |  Email |Print

Analysts have said that the passage of the Nigeria Sovereign Wealth Fund Bill will instil more discipline in the way the country’s excess crude oil revenues are being managed. Analysts made this known in the money market weekly report of the First Security Discount House.
According to them, the passage of the SWF Bill will instil more discipline in political office holders in managing windfall income of the country……………………………………….Full Article: Source

Posted on 19 May 2011 by VRS |  Email |Print

Abu Dhabi plans to curtail bond sales by state companies and review the investments they hold to ease through the sale of sovereign bonds and ensure the firms’ actions benefit the economy.
The Abu Dhabi Investment Authority, among the world’s largest sovereign wealth funds, is not subject to the review……………………………………….Full Article: Source

Posted on 19 May 2011 by VRS |  Email |Print

Along with the announcement of his new Cabinet lineup on Wednesday, Prime Minister Lee Hsien Loong also revealed that he will be the new chairman of GIC, taking over the reins from Minister Mentor (MM) Lee Kuan Yew.
Finance Minister Tharman Shanmugaratnam will be the new chairman of the Monetary Authority of Singapore (MAS). Senior Minister (SM) Goh Chok Tong is the current MAS chairman. MM Lee and SM Goh have been appointed senior advisers of GIC and the MAS respectively……………………………………….Full Article: Source

Posted on 19 May 2011 by VRS |  Email |Print

China’s state-owned enterprises are injecting millions into Canadian mining companies seeking to build out new mines. As a signal of future intentions, this year China Investment Corp., a sovereign wealth fund with $300-billion in assets, opened its first foreign office – in Toronto.
It’s boom times for the sellers, who are already basking in sky-high commodity prices that show no sign of falling. But for Canadian bidders coming up against the new investor on the block, these are frustrating times……………………………………….Full Article: Source

Posted on 19 May 2011 by VRS |  Email |Print

BTA, Kazakhstan’s No. 3 bank by assets, has asked Britain to arrest its former head Mukhtar Ablyazov, from whom it seeks billions of dollars in compensation for alleged misappropriation.
An Ablyazov spokesperson said: “Ablyazov considers this application to be baseless and will be defending it vigorously.” “These applications to court are nothing more than an attempt by the government of Kazakhstan and its State Fund Samruk-Kazyna to avoid responsibility for BTA’s impending default following nationalisation………………………………………Full Article: Source

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