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Sovereign Wealth Funds Briefing 20.Jul 2011

Posted on 20 July 2011 by VRS |  Email |Print

Choi Chong-suk

South Korea’s $46 billion sovereign wealth fund aims to expand alternative investments in areas like commodities and private equity, its new chief executive said on Tuesday, pledging to strengthen ties with foreign private equity and pension funds.
Korea Investment Corporation (KIC) CEO Choi Chong-suk said in his inauguration speech that the fund would continue to actively invest overseas and could join deals with other global sovereign wealth funds……………………………………….Full Article: Source

Posted on 20 July 2011 by VRS |  Email |Print

Choi Jong-seok, son of former President Choi Kyu-hah, has been picked to head Korea Investment Corp., officials said.
The country’s sovereign wealth fund and Ministry of Strategy and Finance have reviewed four applicants for the post and selected Choi, former chief executive of Allianz Global Investors Korea Ltd. and former vice president of Hana Bank……………………………………….Full Article: Source

Posted on 20 July 2011 by VRS |  Email |Print

Temasek Holdings Pte. Ltd. has started meeting global bond investors, people familiar with the situation said Tuesday, in a step that could lead to a bond sale by the Singapore state investment company.
Temasek this week began the series of meetings, which will take place Hong Kong, Malaysia, London, Frankfurt and some cities in the U.S., including New York and Boston, and that will likely end this week, the people said……………………………………….Full Article: Source

Posted on 20 July 2011 by VRS |  Email |Print

Temasek Holdings Pte. will meet with credit investors in Asia, Europe and the U.S. from this week, according to a person familiar with the matter.
Singapore’s state-owned investment company will meet with investors in Hong Kong, Malaysia, London, Frankfurt and cities in the U.S. including New York and Boston as part of a twice yearly investor update, the person said, asking not to be identified as details are private……………………………………….Full Article: Source

Posted on 20 July 2011 by VRS |  Email |Print

The head of the Temasek unit that invested in Asian banks such as China Construction Bank and India’s ICICI is stepping down in the latest of senior management changes involving the Singapore state investor.
Fullerton Financial Holdings CEO Francis Rozario is leaving at the end of July and will replaced be Temasek senior managing director Gan Chee Yen, a spokesman for the Singapore investor told Reuters in an email on Tuesday……………………………………….Full Article: Source

Posted on 20 July 2011 by VRS |  Email |Print

She arrived in New Zealand early in 2009 with six-month-old twins, no job and a gold-plated CV. In September she will walk into new offices in Auckland’s QEII Square to take charge of a multibillion-dollar investment portfolio as head of investments for the Super Fund.
In between she has risen to head of markets at the stock exchange and was tipped as its next chief executive. Clearly, Fiona Mackenzie has talent……………………………………….Full Article: Source

Posted on 20 July 2011 by VRS |  Email |Print

State Oil Fund of the Republic of Azerbaijan received on July 20, 2007 the bonus payment amounted 45 mln. dollars in accordance with the Agreement signed between Azerbaijan Government and foreign extractive sector companies on the exploration, development and production sharing for the Shah Deniz prospective area in the Azerbaijan sector of the Caspian Sea.
The bonus on the aforesaid agreement was envisaged to be paid in accordance with 2006 budget of the Fund. However, due to the delay of gas production from Shah Deniz the bonus payment took place recently……………………………………….Full Article: Source

Posted on 20 July 2011 by VRS |  Email |Print

Delegation of Kazakhstan’s Samruk-Kazyna National Welfare Fund headed by chairman Timur Kulibayev visited France to study French experience in the field of renewable energy technologies.
The delegation included chief of KazAtomProm Vladimir Shkolnik and heads of the departments of Samruk-Kazyna. They met with French Transport Minister Thierry Mariani, General Director of the Strategic Investment Fund Jean-Yves Gillet, chairman of French Atomic Energy Commission Bernard Bigot……………………………………….Full Article: Source

Posted on 20 July 2011 by VRS |  Email |Print

The Ministry of Trade and Investment is planning to float a Diaspora Fund as part of strategies aimed at unlocking available capital for investment in critical sectors of the economy.
Minister of Trade and Investment, Olusegun Aganga pointed out that the ministry would also operationalise the Sovereign Wealth Fund, which was created partly because of investments. He added that the N2trillion pension fund was also “sticky, long-term money” that should be unlocked for investment in key sectors, especially infrastructure……………………………………….Full Article: Source

Posted on 20 July 2011 by VRS |  Email |Print

Many countries such as Norway, Saudi Arabia and Kuwait have created sovereign wealth funds to manage these windfalls of revenue during boom times. Kuwait, for example, is arguably the only country in the world born out of a sovereign investment fund.
The Kuwait Investment Authority is in actual fact the modernised version of the Kuwait Investment Board founded back in 1953. The fortunes earned by the Board put in place the stepping-stones for Kuwaitis to gain their independence from Britain……………………………………….Full Article: Source

Posted on 20 July 2011 by VRS |  Email |Print

The Osun State Governor, Ogbeni Rauf Aregbesola, has sought the assistance of the China-Africa Development Fund for the quick infrastructural development of the state.
This was the highlight of a meeting the governor had with officials of the CADFund on Monday in China in continuation of Aregbesola’s search for investments in the areas of agriculture, education and industrial growth for the state……………………………………….Full Article: Source

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