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Sovereign Wealth Funds Briefing 13.Jul 2011

Posted on 13 July 2011 by VRS |  Email |Print

Li KepingLi Keping, a vice chairman of China’s $300 billion sovereign wealth fund, has been named executive director and chief investment officer of the fund which directs investments from China’s huge stockpile of foreign exchange reserves.
Li, most recently vice chairman of the fund, replaces Gao Xiqing, a statement on the websiste of the China Investment Corp (CIC) said. Sources told Reuters on June 17 of the impending personnel change……………………………………….Full Article: Source

Posted on 13 July 2011 by VRS |  Email |Print

The dramatic increase in global equity investing by Chinese and South Korean sovereign wealth funds (SWFs) over the past two years has been mainly driven by hired external investment advisers, according to a research study just completed by LS Global Advisory Group, a leading global market intelligence and shareholder identification service provider. In-house managed equity portfolios have not increased significantly during the period, the study revealed.
The SWFs, seeking to capture gains in developed and developing equity markets, are hiring specific types of investment advisers depending on the particular country they are investing in. For example, for investments in Japan, they are engaging long-established and fundamental asset managers including Nomura Asset Management, Goldman Sachs Asset Management and The Vanguard Group. Other major asset managers being used by Chinese and Korean SWFs include Morgan Stanley Investment Management, J.P. Morgan Asset Management, State Street Global Advisors and BlackRock Fund Advisors. (Press Release)

Posted on 13 July 2011 by VRS |  Email |Print

South Korea’s Military Mutual Aid Association, the defense ministry’s $7.6 billion fund, may sell its biggest overseas holding after five years to seek out ports and other infrastructure assets.
China Investment Corp., the country’s $300 billion sovereign wealth fund, is targeting mining, real estate and infrastructure investments in the Americas, Felix Chee, the fund’s representative in Canada, said in June……………………………………….Full Article: Source

Posted on 13 July 2011 by VRS |  Email |Print

Late last week, Temasek Holdings Pte. Ltd., a Singapore sovereign wealth fund, announced its fiscal 2011 results. The fund returned 4.6% through March 31, ending its fiscal year with S$193 billion ($153 billion) in assets, up from S$186 billion a year earlier.………………………………………Full Article: Source

Posted on 13 July 2011 by VRS |  Email |Print

The Minister of Economy and Finance Yousef Hussein Kamal has replaced HE the Prime Minister as chairman of Qatari Diar Real Estate Investment Company, the property arm of the country’s sovereign wealth fund.
It was not clear when Kamal took over the chairman’s role from HE the Prime Minister Sheikh Hamad bin Jassim bin Jabor al-Thani, according to the Zawya Dow Jones report……………………………………….Full Article: Source

Posted on 13 July 2011 by VRS |  Email |Print

Globalfoundries Inc., the foundry that is majority owned by an Abu Dhabi sovereign wealth fund, has said that its newly constructed cleanroom in New York and a cleanroom extension in Dresden have both had the first chip making equipment installed.
At Fab 1 in Dresden, Germany, Globalfoundries is adding capacity to take the fab to 80,000 wafers per month and work at 45-nm and below……………………………………….Full Article: Source

Posted on 13 July 2011 by VRS |  Email |Print

Serbia’s foreign-exchange reserves fell to 9.96 billion euros ($13.88 billion) in June as the country repaid debt to domestic and foreign creditors.
Foreign-exchange reserves fell by a net 97.3 million euros after Serbia repaid 67.8 million euros to locals whose savings were frozen in the early 1990s and which the government pays through a so-called savings bond, the National Bank of Serbia said………………………………………Full Article: Source

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