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Sovereign Wealth Funds Briefing 18.Aug 2011

Posted on 18 August 2011 by VRS |  Email |Print

Sticking to a financial plan can be challenging, even if you are the world’s largest sovereign wealth fund. Or, so it seems, sometimes, for Norway’s Government Pension Fund Global and the handful of active traders at Norges Bank Investment Management — challenged during the first two weeks of August to explain the loss of 200 billion kroner ($372-million U.S.) in equity value, as much as its stock losses for all of the second-quarter.
“It happened very fast,” fund director Ygve Slyngstad said as he delivered Q2 numbers. There’s no comment yet on August’s losses……………………………………….Full Article: Source

Posted on 18 August 2011 by VRS |  Email |Print

Goodluck JonathanAlmost five months after President Goodluck Jonathan signed the Sovereign Wealth Fund (SWF) Bill into Law, the account is yet to effectively take-off, because the Federal Government has not been able to appoint those who will manage the funds.
The passage of the fund bill, celebrated as the biggest single achievement by former Finance Minister, Mr. Olusegun Aganga , was expected to replace the Excess Crude Account (ECA), created to keep back earned oil revenues which are above budget benchmark price……………………………………….Full Article: Source

Posted on 18 August 2011 by VRS |  Email |Print

Bredin Prat and Vinson & Elkins lined up alongside Linklaters on the proposed €2.3bn acquisition of a stake in GDF Suez by China Investment Corporation (CIC).
The deal would see CIC take a 30 per cent stake in the exploration and production division of GDF Suez and a 10 per cent stake in the Atlantic LNG liquefaction plant in Trinidad & Tobago……………………………………….Full Article: Source

Posted on 18 August 2011 by VRS |  Email |Print

The National Fund of the Republic of Kazakhstan, the country’s stabilization fund grown up by saving a portion of oil-related revenues, currently holds more than $38.7 billion, up from $20 billion in 2009 thanks to high oil prices.
This fund can be used toward a public investment strategy by financing investments in health, education and infrastructure, the IMF recommended……………………………………….Full Article: Source

Posted on 18 August 2011 by VRS |  Email |Print

Sakha republic President Yegor Borisov has proposed setting up a target fund for the development of Russia’s eastern regions with tax money from large projects.
“I suggest setting up a target fund for the development of eastern territories similar to the Alaska Permanent Fund in the United States. Its source could be the tax revenues from the implementation of mega projects,” Borisov said at the Comprehensive Infrastructure Development in the Northeast conference, which opened in Yakutsk on Wednesday……………………………………….Full Article: Source

Posted on 18 August 2011 by VRS |  Email |Print

Russia’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 said 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 18 August 2011 by VRS |  Email |Print

Angola’s foreign currency reserves rose 5.1 percent in July against June totalling US$22.6 billion, according to figures from the National Bank of Angola.
Recently, the governor of the central bank, José de Lima Massano, announced that net foreign reserves had posted growth of 23.6 percent since the beginning of the year totalling US$21.4 billion on 30 June……………………………………….Full Article: Source

Posted on 18 August 2011 by VRS |  Email |Print

When the leaders of the world’s two biggest economies meet in Hawaii three months from now, U.S. President Barack Obama will still be able to brag to Chinese President Hu Jintao that the United States has more big companies than any other nation on the planet.
Chinese and other “sovereign wealth funds” that many suspected were making investments for political rather than purely commercial purposes……………………………………….Full Article: Source

Posted on 18 August 2011 by VRS |  Email |Print

PVI Holdings, the parent company of PVI Insurance and PVI Reinsurance in Vietnam, said it is planning to offer 53.2 million new shares through a private placement to foreign strategic investors in a bid to raise capital to fuel new development and to strengthen the financial position of its subsidiaries.
Oman Investment Fund, an investment arm of the Oman government, is currently PVI’s only foreign partner. The sovereign wealth fund acquired a 12.6% equity stake for about 808.3 billion dong in May 2010……………………………………….Full Article: Source

Posted on 18 August 2011 by VRS |  Email |Print

Industry superannuation fund VicSuper will next week begin using a “rapid advice engine” from Provisio Technologies to deliver single-issue financial advice to members.
VicSuper said yesterday that basic financial advice on contributions, investment choice and insurance will be given through a new team within the fund……………………………………….Full Article: Source

Posted on 18 August 2011 by VRS |  Email |Print

The Heritage Savings Trust Fund mostly stayed the same in the first quarter, falling only slightly to $15.1 billion.
Provincial expenses are now forecast to be $39.6 billion, showing an increase of $650 million from the budget – Minister Lloyd Snelgrove said that was caused by disaster and emergency recovery, such as the wildfires in Slave Lake……………………………………….Full Article: Source

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