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Sovereign Wealth Funds Briefing 17.Aug 2011

Posted on 17 August 2011 by VRS |  Email |Print

Sovereign wealth funds are turning their focus towards Asia after a trend for investing heavily in Europe came to an abrupt halt in 2010, according to a report by US research and consultancy firm Monitor Group.
The report entitled ‘Braving the New World: Sovereign Wealth Fund Investment in the Uncertain Times of 2010’ analysed the investment behaviour of 30 of the world’s leading sovereign wealth funds……………………………………….Full Article: Source

Posted on 17 August 2011 by VRS |  Email |Print

Alexei UlyukayevRussia’s top lender Sberbank hopes to line up Asian and Arab wealth funds next week as core investors in its 7.6 percent stake sale, two banking sources told Reuters on Tuesday.
A team set to meet the funds will be headed by Chief Executive German Gref, with Alexei Ulyukayev, a first deputy chairman at Russia’s central bank and a member of Sberbank’s supervisory board, joining the trip……………………………………….Full Article: Source

Posted on 17 August 2011 by VRS |  Email |Print

The Kazakh government is asking private investors to partner in a project to construct 21.5 million square feet of housing within four years throughout the vast country, the local Tengrinews web site reported Tuesday.
For the first time the apartments will be actively constructed in the regions rather than in major cities, said Kuandyk Bishimbayev, deputy chairman of Kazakhstan’s national welfare fund Samruk-Kazyna, which is expected to operate the initiative……………………………………….Full Article: Source

Posted on 17 August 2011 by VRS |  Email |Print

Oil plays a big role in Kazakhstan. With nearly 40 billion barrels in reserves and 2 percent of global production, the country has the world’s ninth largest proven reserves and is among the 20 largest oil producers.
Kazakhstan’s stabilization fund—the National Fund of the Republic of Kazakhstan—is the cornerstone to managing and preserving the country’s oil wealth. The central bank manages the fund, using it to save the bulk of oil-related fiscal revenues. The government budget is allocated a fixed annual transfer of $8 billion from the fund………………………………………Full Article: Source

Posted on 17 August 2011 by VRS |  Email |Print

Samruk-Kazyna Sovereign Wealth Fund in cooperation with private partners is ready to construct 2 million square meters of housing within 3-4 years, the Fund’s Deputy Chairman Kuandyk Bishimbayev said.
According to the top-manager, there is currently a slight raise of prices at the real estate market. Owing to the prices rise and striving to prevent deficiency of primary housing, the Government is preparing a new program of residential construction that will continue the anti-crisis part of “Rented housing” program that is close to completion stage right now……………………………………….Full Article: Source

Posted on 17 August 2011 by VRS |  Email |Print

Norway pledged to counter krone gains that threaten its exports as the widest budget surplus of any AAA rated nation draws investors seeking refuge from debt crises in the U.S. and Europe.
The government will this year seek to limit expenditure to 4 percent of its $550 billion sovereign-wealth fund, as stipulated by its fiscal rule. The Finance Ministry breached the rule in 2010 and 2009 in an effort to pad the economy against the fallout of the global crisis……………………………………….Full Article: Source

Posted on 17 August 2011 by VRS |  Email |Print

Middle Eastern sovereign fund Abu Dhabi Investment Authority could invest $100 million in Russian regional banks as part of a joint project with the International Finance Corporation, or IFC, Kommersant reported Monday.
The investment would be through the Fund for the Capitalization of Russian Banks — an organization to be created by the IFC that was approved by the Finance Ministry in June……………………………………….Full Article: Source

Posted on 17 August 2011 by VRS |  Email |Print

Efforts by the Federal Government of Nigeria to diversify the nation’s economy may be yielding fruitful results if trade statistics released by the National Bureau of Statistics (NBS) is anything to go by.
“We believe that the establishment of the Sovereign Wealth Fund (SWF) is capable of achieving the desired objectives, but we note the possibility of less than optimal accretion to external reserves, which is capable of derailing the objectives of achieving price stability in the Nigerian economy.”………………………………………Full Article: Source

Posted on 17 August 2011 by VRS |  Email |Print

Temasek Holdings said it accounts for around 10 per cent of Singapore’s economic output, not 60 per cent as claimed by a presidential hopeful.
The investment company said it was “puzzled” by recent, mistaken claims by Mr Tan Jee Say, one of candidates standing for the Presidential Election August 27……………………………………….Full Article: Source

Posted on 17 August 2011 by VRS |  Email |Print

Temasek Holdings Pte. Ltd. is looking to sell its entire stake of about 23% in Indonesia’s PT Chandra Asri Petrochemical Tbk. for up to US$400 million, people familiar with the situation said Tuesday, in the latest divestment by the Singapore state investment company.
Several companies from Thailand, South Korea and Japan have shown interest in Temasek’s stake, one of those people said……………………………………….Full Article: Source

Posted on 17 August 2011 by VRS |  Email |Print

Emami-backed AMRI put in a revised bid of over Rs 600 crore to acquire Ahmedabad-based Sterling Hospitals after being challenged by private equity biggies, including Malaysia’s sovereign wealth fund Khazanah, said sources directly briefed on the matter.
Khazanah controls Singapore’s Parkway Holdings and also holds minority shares in India’s largest private healthcare group Apollo Hospitals Enterprise……………………………………….Full Article: Source

Posted on 17 August 2011 by VRS |  Email |Print

A healthy profit and the removal of the Future Fund’s dead hand from the market have conspired to lift Telstra shares to their best level in a year - although still below the 1997 float price.
Still, its chief executive, David Thodey, is getting plaudits for mending torn relationships with government, customers and competitors on the way to producing a business structure that buys it a space in the interactive future……………………………………….Full Article: Source

Posted on 17 August 2011 by VRS |  Email |Print

The State Investment Council (NMSIC) announced record returns of 22.5% for the fiscal year ending June 30, 2011. The investment returns helped grow the total funds managed by the NMSIC more than $2.5 billion year-over-year, and placed it in the top third among peer funds of more than $1 billion.
“The State Investment Council was well positioned for the bull market we experienced for much of the year,” said State Investment Officer Steve Moise. “The Council is also working diligently to diversify its assets, and create a balanced portfolio of quality investments that will be less vulnerable to the volatility we have seen recently on Wall Street.” (Press Release)

Posted on 17 August 2011 by VRS |  Email |Print

Venezuela plans to transfer billions of dollars in cash reserves from abroad to banks in Russia, China and Brazil and tons of gold from European banks to its central bank vaults.
The planned moves would include transferring $6.3 billion in cash reserves, most of which Venezuela now keeps in banks such as the Bank for International Settlements in Basel, Switzerland, and Barclays Bank in London to unnamed Russian, Chinese and Brazilian banks, one document said……………………………………….Full Article: Source

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