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Sovereign Wealth Funds Briefing 05.Mar 2012

Posted on 05 March 2012 by VRS |  Email |Print

Jesse WangChina Investment Corp., the nation’s sovereign wealth fund, received $30 billion of capital from the State Administration of Foreign Exchange by the end of last year, Executive Vice President Jesse Wang said.
The funds were a one-time injection and any future capital will have to be applied for separately, Wang told reporters while attending meetings today of the Chinese People’s Political Consultative Conference in Beijing………………………………………..Full Article: Source

Posted on 05 March 2012 by VRS |  Email |Print

China Investment Corp, the nation’s sovereign wealth fund, has received an injection of $30 billion from the government that will help it buy assets in debt-stricken Europe, Wang Jianxi, deputy general manager and chief risk officer of CIC, told China Daily.
Late last year, “the company received a new round of funding of $30 billion from the State Administration of Foreign Exchange”, as earlier funding had essentially been fully invested, said Wang, who is also a member of the Chinese People’s Political Consultative Conference National Committee……………………………………….Full Article: Source

Posted on 05 March 2012 by VRS |  Email |Print

China Investment Corp. has appointed a new executive to its management team, as the sovereign-wealth fund further strengthens oversight of its big global portfolio.
Liang Xiang, most recently a member of the fund’s executive committee, has become an executive vice president at CIC, the fund said in a statement. It didn’t disclose further information………………………………………..Full Article: Source

Posted on 05 March 2012 by VRS |  Email |Print

Taoiseach Enda Kenny held a private meeting with Gao Xiqing, the head of China Investment Corporation — the world’s largest sovereign wealth fund — last November.
The meeting, details of which emerged from a Freedom of information request submitted by the Sunday Independent, took place almost four months before the high-profile Chinese diplomatic visit in February………………………………………..Full Article: Source

Posted on 05 March 2012 by VRS |  Email |Print

South Korea’s foreign exchange reserve soared to a fresh high in February as the strength of the euro and the British pound boosted the conversion value of those assets, the central bank said Monday.
The country’s foreign reserves reached a record high of US$315.8 billion as of the end of last month, up 4.46 billion from January, according to the Bank of Korea (BOK)………………………………………..Full Article: Source

Posted on 05 March 2012 by VRS |  Email |Print

Senior Treasury officials have sounded the death knell for the argument for Australia to establish a sovereign wealth fund which would bank consecutive budget surpluses on the back of mining profits.
Macroeconomic experts Phil Garton and David Gruen say Australia’s large amount of superannuation savings and the nation’s ability to mine resources well into the future ensured the country already had many of the benefits of a wealth fund………………………………………..Full Article: Source

Posted on 05 March 2012 by VRS |  Email |Print

KazMunaiGaz National Co. will be able to cut its foreign debt by raising $4 billion from Kazakhstan’s National Oil Fund, according to its parent, sovereign wealth fund Samruk-Kazyna.
The state energy producer will sell two tranches of bonds to the National Oil Fund in 2013 and 2015. The notes will comply with an “international format, allowing for increased yields and exceptional liquidity for National Oil Fund investments,” Samruk-Kazyna, which holds the government’s 100 percent in KazMunaiGaz, said……………………………………….Full Article: Source

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