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Sovereign Wealth Funds Briefing 24.Jun 2011

Posted on 24 June 2011 by VRS |  Email |Print

Tony TanTony Tan, executive director at Singapore’s sovereign wealth fund GIC, said on Thursday he has resigned and will run for president in an election that must be held before end-August.
Tan, a former deputy prime minister, has also resigned as chairman of Singapore Press Holdings (SPH), which controls almost all newspapers published in the city-state………………………………………..Full Article: Source

Posted on 24 June 2011 by VRS |  Email |Print

The deputy chairman of the Government of Singapore Investment Corp (GIC) said he had resigned to run for the state presidency, whose duties include safeguarding its vast foreign reserves.
Tony Tan, 71, a former deputy prime minister and government minister, on Thursday said he would stand as an independent and was stepping down from the sovereign wealth fund in order to do so………………………………………..Full Article: Source

Posted on 24 June 2011 by VRS |  Email |Print

Former deputy prime minister Tony Tan said he decided to come forward and run for president because he could not remain a spectator while Singapore faces “complex changes”. He said that the past few years had seen difficult times and “unprecedented changes in the global financial system and world politics”.
Singapore, like other countries, is still “grappling with hiccups” and the need to undertake tough decisions to reform institutions in coming years, he added. That is why he believes the country needs “a president with experience and a steady hand”………………………………………..Full Article: Source

Posted on 24 June 2011 by VRS |  Email |Print

Temasek Holdings has named two existing endowments after two Singaporeans to pay tribute to their contributions to social service and health care. They are the late philanthropist Ee Peng Liang and Dr Balaji Sadasivan, the late senior minister of state.
Dr Ee was widely recognised as Singapore’s Father of Charity, while Dr Balaji made his mark as a neurosurgeon and politician………………………………………..Full Article: Source

Posted on 24 June 2011 by VRS |  Email |Print

Temasek Holdings has named two existing endowments under Temasek Cares after two Singaporeans in honour of their roles and contributions in social service and healthcare.
They are the late philanthropist Dr Ee Peng Liang, and the late former Senior Minister of State Dr Balaji Sadasivan. The S$35 million Ee Peng Liang Endowment is earmarked for capability building in the special needs………………………………………..Full Article: Source

Posted on 24 June 2011 by VRS |  Email |Print

China’s US$200 billion sovereign wealth fund is considering buying a US$4 billion stake in Russia’s largest commercial bank, media reports said.
China Investment Corp has received a proposal from investment banks, which are now lobbying global clients to buy a total of 7.6 percent of OAO Sberbank. Russia’s biggest state-controlled lender is expected to roll out its privatization program soon, 21st Century Business Herald reported yesterday………………………………………..Full Article: Source

Posted on 24 June 2011 by VRS |  Email |Print

The Hong Kong Monetary Authority has begun investing in China’s domestic equity and bond markets after being granted a Qualified Foreign Institutional Investor license in November, allowing the territory to diversify its foreign-exchange reserves into the Chinese yuan, Chief Executive Norman Chan said.
China has issued QFII licenses to other central banks, including those of Norway and Malaysia, as well as to sovereign-wealth funds in Singapore and Abu Dhabi, as part of its bid to increase the use of the yuan around the world………………………………………..Full Article: Source

Posted on 24 June 2011 by VRS |  Email |Print

As superannuation funds seek to move further into the provision of full service financial planning, a recent report prepared for the West Australian Government has raised some serious questions about what is really in members’ best interests.
As a growing number of superannuation funds seek to enter the financial planning market, a report prepared for the West Australian Government has thrown up a range of issues that cannot be ignored by either the Federal Government or the Australian Prudential Regulation Authority (APRA)………………………………………..Full Article: Source

Posted on 24 June 2011 by VRS |  Email |Print

Delegation of Sumruk-Kazyna National Welfare Fund JSC led by Deputy Chairman of the Board Aidan Karibzhanov arrived in the capital of Kyrgyzstan on Thursday. Representatives of the Fund held a meeting with First Vice Prime Minister of Kyrgyzstan Omurbek Babanov to discuss the extension of economic links between the two states.
“The Kyrgyz side attaches great importance to this meeting and hopes that the bilateral dialogue will be the impetus for further negotiations on developing a set of mechanisms to start the process of establishing the Kyrgyz-Kazakh investment fund and its effective functioning,” Babanov noted………………………………………..Full Article: Source

Posted on 24 June 2011 by VRS |  Email |Print

Alberta’s rainy day fund has pumped $33 billion into provincial government programs and services since 1976, but its per capita value has dropped in recent years to less than when it was created, according to figures supplied by Alberta Finance officials.
Data given to an all-party Heritage Savings Trust Fund committee this week shows that when inflation and population growth are taken into account, the fund is shrinking………………………………………..Full Article: Source

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