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Sovereign Wealth Funds Briefing 22.Aug 2011

Posted on 22 August 2011 by VRS |  Email |Print

Juneau, Alaska is home to the Alaska Permanent Fund Corporation, the locus of a roughly $40 billion state fund. While small by the standards of Middle East sovereign wealth funds, the Alaska Permanent Fund is unique among states.
The fund found its genesis in the state’s oil wealth and it has paid a dividend to every resident since 1982. The amount is based on a five-year average of the fund. Founded in 1980, the APFC is frequently cited as among the most transparent sovereign wealth funds in the world, and its history, investments and historical performance can be viewed at its website……………………………………….Full Article: Source

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Posted on 22 August 2011 by VRS |  Email |Print

Sheikh Mohammed bin Khalifa Al NahyanSheikh Mohammed bin Khalifa Al Nehayan, son of the President of the United Arab Emirates, is to head a new indexed fund department at the Abu Dhabi Investment Authority sovereign wealth fund, the Financial Times reported.
Sheikh Mohammed, an Adia board member and member of the emirate’s executive council, was formerly director of the European external equity fund division, according to the FT……………………………………….Full Article: Source

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Posted on 22 August 2011 by VRS |  Email |Print

Ahead of Monday’s meeting of the National Economic Council in Abuja, the Nigeria Governors’ Forum will be meeting Sunday also in the Federal Capital Territory, during which the desirability of the nation’s Sovereign Wealth Fund will be discussed.
Already, there are indications that mounting pressure on state governors to meet their funding obligations, especially the national minimum wage, could see some of them heading to court to stop the transfer of a certain portion of their revenue to the SWF……………………………………….Full Article: Source

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Posted on 22 August 2011 by VRS |  Email |Print

So soon after running down the much-eulogised Excess Crude Account (ECA) set up by the Olusegun Obasanjo administration at the behest of the International Monetary Fund (IMF), the Federal Government recently began preparations to establish a Sovereign Wealth Fund (SWF).
Addressing members of the National Assembly Committees on Finance last week, Finance Minister Olusegun Aganga noted, in part, that Nigeria is one of the very few members of Organisation of Petroleum Exporting Countries (OPEC), without such a fund……………………………………….Full Article: Source

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Posted on 22 August 2011 by VRS |  Email |Print

Alternative gold strategies, which include lending it to China for a fee or using the gold to establish a diversified sovereign wealth fund, all go unnoticed because of the missing confidence.
Even under the framework of the current fixed exchange system, questions remain over the credibility of the gold in protecting the Lebanese currency……………………………………….Full Article: Source

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Posted on 22 August 2011 by VRS |  Email |Print

Government of Singapore Investment Corp, which has helped bail out troubled global financial institutions, suffered an investment loss of about 50 billion Singapore dollars (33 billion US) last year.
In late 2007 and early last year GIC injected billions of dollars into Swiss bank UBS as well as US banking giant Citigroup, both of which suffered massive losses from US subprime, or higher-risk, mortgage investments……………………………………….Full Article: Source

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