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Sovereign Wealth Funds Briefing 24.Jan 2012

Posted on 24 January 2012 by VRS |  Email |Print

Chenying ZhangChina’s sovereign wealth fund’s move last week to invest in London water supplier Thames Water puts focus on potential overseas investment in the year of Dragon from China’s central bank PBOC, which plans to create a $300 billion vehicle to invest in Europe and the United States.
After Reuters reported on the plan in December, the PBOC and State Administration of Foreign Exchange (SAFE), which manages reserves, have been mum. A tiny drop in the country’s reserves, still standing at $3.18 trillion, brings only a small comfort to the world’s largest reserve holder as it struggles with low returns on its sovereign debt portfolios in U.S. Treasuries (earning almost nothing) and euro zone sovereign debt (under growing risk of further ratings downgrades)………………………………………..Full Article: Source

Posted on 24 January 2012 by VRS |  Email |Print

The government has given nod to the Oman Investment Fund (OIF), the Sultanate of Oman’s sovereign wealth fund, to buy five per cent stake in the UCX, a national level commodity exchange in the country.
“A week back, we received the Foreign Investment Promotion Board’s (FIPB) approval to induct QIF’s arm, Funderburk 2 Mauritius as a foreign investor in the UCX,”the exchange’s promoter Ketan Sheth told PTI. Funderburk 2 Mauritius has bought five per cent stake in the exchange for Rs 13.75 crore, he said………………………………………..Full Article: Source

Posted on 24 January 2012 by VRS |  Email |Print

The Russian Direct Investment Fund is looking at companies in Italy, France, Germany and Netherlands, its head Kirill Dmitriev said by phone today. The $2 billion Moscow-based fund may conclude deals in the third or fourth quarter by acquiring minority stakes.
Prime Minister Vladimir Putin, who announced in September his intention to return to the presidency this year, said Russian capital should be invested abroad to allow for the country’s closer integration with Europe and the rest of the world. The fund can invest as much as 20 percent of its resources outside of Russia. It may also use some of the $1 billion that China Investment Corp., the nation’s sovereign-wealth fund, committed last year……………………………………….Full Article: Source

Posted on 24 January 2012 by VRS |  Email |Print

Angola’s state-owned oil company Sonangol EP and some of the African country’s banks are interested in stakes in Portuguese companies, Angolan Economy Minister Abraao Gourgel said.
The country still lacks the financial ability to create a sovereign wealth fund to invest Angola’s oil money abroad. The government has decided to create smaller funds to invest in the energy sector and in building new infrastructure following a 27- year civil war that ended in 2002, Gourgel said………………………………………..Full Article: Source

Posted on 24 January 2012 by VRS |  Email |Print

China has made the first of what is expected to be many forays into British infrastructure, snapping up nearly a tenth of Thames Water, the UK’s largest water and sewerage company.
The acquisition, by China’s $410 billion (£265 billion) CIC sovereign wealth fund, follows talks in Beijing this week with Chancellor George Osborne, who is looking for overseas investors to finance a massive reconstruction of the country’s ailing infrastructure, that would have the additional benefit of boosting the economy………………………………………..Full Article: Source

Posted on 24 January 2012 by VRS |  Email |Print

Wyoming’s General Fund grew by $80.4 million in December to $481.6 million, according to the January issue of the monthly state revenue report. As a result, year-to-date General Fund revenues exceeded projections by $20.6 million or 2 percent.
“With the exception of investment income, General Fund revenues were on the mark,” said Jim Robinson, senior economist for the state’s Economic Analysis Division. “Clearly, this reflects the slow-growth mode the state’s economy is currently in.”……………………………………….Full Article: Source

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