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Sovereign Wealth Funds Briefing 11.Aug 2011

Posted on 11 August 2011 by VRS |  Email |Print

Director of the Real Estate Department at Kuwait Investment Authority (KIA) Khaled Al-Hassoon announced Wednesday the creation of an executive committee for the portfolio Real Estate Investment Authority.
Al-Hassoon told the press that the committee consisted of members from KIA and the Real Estate Authority, adding that meetings were held to launch the committee’s operation. The Real Estate Investment Authority is ran by Kuwait Finance House (KFH)……………………………………….Full Article: Source

Posted on 11 August 2011 by VRS |  Email |Print

MDM Bank, Russia’s second largest private lender, is holding talks with some Asian and Arabic sovereign investment funds, including Abu Dhabi Investment Authority and Investment Corporation of Dubai.
MDM, whose shareholders include businessman Sergey Popov with a 56.3 percent stake and Igor Kim with 11 percent, may offer up to a blocking stake of 25 percent to the potential investor, according to Kommersant……………………………………….Full Article: Source

Posted on 11 August 2011 by VRS |  Email |Print

HSBC plans to dispose of its 8 percent stake in Bank of Shanghai. HSBC’s plan to exit from the Chinese lender comes as China Investment Corp, the country’s sovereign wealth fund, has bought the International Finance Corporation’s 7 percent stake in Bank of Shanghai, the 21st Century Business Herald reported, citing sources familiar with the matter.
HSBC and China Investment Corp were not immediately available for comment……………………………………….Full Article: Source

Posted on 11 August 2011 by VRS |  Email |Print

Bank of America Corp has held exploratory talks with the principal investment funds of Kuwait and Qatar about selling part of its stake in China Construction Bank.
Talks about the Chinese bank have been held with other investors in addition to the Kuwait Investment Authority and the Qatar Investment Authority, the sources said……………………………………….Full Article: Source

Posted on 11 August 2011 by VRS |  Email |Print

The French utility GDF Suez and China’s sovereign wealth fund said Wednesday that they were in exclusive talks to seal a $4 billion alliance that would help GDF finance its expansion in Asia and offer Beijing access to new energy resources.
GDF outlined the details of the partnership, its second large deal in a year, after the purchase of 70 percent of International Power, as it reported earnings for the first half of 2011 that beat forecasts……………………………………….Full Article: Source

Posted on 11 August 2011 by VRS |  Email |Print

GDF Suez’s inventive streak continues. The Franco-Belgian power giant has sold minority stakes in upstream units for EUR2.9 billion to China’s sovereign wealth fund, partly to unlock value hidden within the group.
That should help end the stock’s losing streak given GDF Suez’s robust profits and stable dividend. Still, investors will likely remain skittish as long as politics wreak havoc on domestic earnings……………………………………….Full Article: Source

Posted on 11 August 2011 by VRS |  Email |Print

GDF Suez SA Wednesday posted a decrease in first half net profits and announced a partnership with sovereign debt fund China Investment Corp. to trim debt and boost the French power group’s presence in Asia.
The Paris based group reported an 8.2% rise in earnings before interest, tax, depreciation and amortization, or Ebitda, helped by the consolidation of results from International Power Plc………………………………………Full Article: Source

Posted on 11 August 2011 by VRS |  Email |Print

Fullerton Fund Management, a unit of Singapore state-investment company Temasek Holdings, has appointed Manraj Sekhon as its chief executive - the latest in a series of management changes at the state-investment company and its units.
Manraj, who was a director and the head of international equities at Henderson Global Investors, will assume the position from Oct 1, Fullerton Fund said……………………………………….Full Article: Source

Posted on 11 August 2011 by VRS |  Email |Print

Future Fund has posted a return of 12.4% for the financial year ending 30 June, with the fund’s assets under management totalling A$75.15bn(US$77.8bn).
For the three years ending 30 June, the return was 6% pa, while since the first contribution to the Future Fund, in May 2006, the fund has generated a return of 5.2% pa. The return for the last quarter of the financial year, excluding assets in its Telstra stock allocation, was 0.6%, the fund said……………………………………….Full Article: Source

Posted on 11 August 2011 by VRS |  Email |Print

The Future Fund, which was established in 2006 and was designed to help the Australian government meet the cost of public sector superannuation (pension) liabilities by delivering investment returns on contributions to the fund, has revealed that its stake in fixed line incumbent Telstra has fallen to around 2.5%.
Having issued a portfolio update yesterday, the Fund said it had decreased its holding in Telstra to approximately 313 million shares, valued in total at AUD939 million (USD953 million), down from its original holding of 17%. The Fund’s board also reiterated its intention to continue selling off its shares in the telco until it hits market weight (around 100 million shares)……………………………………….Full Article: Source

Posted on 11 August 2011 by VRS |  Email |Print

The Alaska Permanent Fund’s value dropped more than $1 billion Monday when the Dow Jones Industrial average fell 634 points.
The fund was established decades ago to share Alaska’s oil wealth with its residents. The fund reported a value of $40.1 billion on June 30, its highest-ever finish to a fiscal year……………………………………….Full Article: Source

Posted on 11 August 2011 by VRS |  Email |Print

The Alaska Permanent Fund’s value dropped more than a billion dollars in a single day Monday when the stock market tumbled, and even after Tuesday’s market rally is estimated to be about $2 billion down from its June 30 heights.
The market value of the fund reached $40.1 billion at the close of the fiscal year on June 30. That was the highest it has ever ended the year, prompting officials to send out an Aug. 2 announcement to the news media that led to widespread coverage of the fund’s success……………………………………….Full Article: Source

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