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Sovereign Wealth Funds Briefing 02.May 2012

Posted on 02 May 2012 by VRS |  Email |Print

Ganhuyag Chuluun Hutagt Mongolia plans to set up a new sovereign wealth fund with $600 million after the country’s June elections, Vice Minister of Finance Ganhuyag Chuluun Hutagt said at a conference in London.
The country also plans to raise the size of its existing stabilization fund to $500 million from $200 million by the end of the year, he told reporters at the Mongolia Capital Markets Day conference at the London Stock Exchange………………………………………..Full Article: Source

Posted on 02 May 2012 by VRS |  Email |Print

Australia’s US$80 billion Future Fund could be tempted to sell in May and stay away. After a rocky spin during the second half of 2011, the Fund returned 5.4% in the three months to end-March after global financial markets showed something of a recovery largely due to the European Central Bank’s decision to pour liquidity into the financial system.
That action has been credited with stemming a deep slide in equity markets and restoring some confidence to the battered euro zone………………………………………..Full Article: Source

Posted on 02 May 2012 by VRS |  Email |Print

Norway’s central bank said Monday it plans to buy foreign currency worth 350 million Norwegian kroner ($61.2 million) a day in May for its oil fund, continuing on the same pace since January.
Norges Bank has sold NOK350 million a day since January to buy foreign currency for the Pension Fund Global, which is also known as Norway’s oil fund. Norges Bank manages the fund, the world’s largest sovereign wealth fund, according to a report from consulting firm Monitor Group. The fund was set up in 1990 to safeguard Norway’s oil wealth and has a market value of over $600 billion………………………………………..Full Article: Source

Posted on 02 May 2012 by VRS |  Email |Print

Qatar Asset Management Co. — a joint venture between Qatar Investment Authority, the nation’s sovereign wealth fund, and the Qatar Financial Center Authority — will provide about $250 million in capital to Barclays Natural Resource Investments in exchange for helping develop the nation’s asset management capabilities, sources said.
The agreement is the first in what is expected to become a series of collaborations between fund managers and the SWF-backed asset management company in an effort to expand Qatar’s financial sector, said Shashank Srivastava, managing director and board member of the QFC Authority — a government organization set up in 2005 to help expand the nation’s financial sector………………………………………..Full Article: Source

Posted on 02 May 2012 by VRS |  Email |Print

Qatar on Monday signed an asset-management deal with a private-equity unit of U.K.-based Barclays PLC, an agreement that will see the wealthy Gulf state co-invest $250 million in a push to broaden its commodities investment.
Qatar Asset Management Co., or QAMC, a joint venture between the Arab Gulf state’s sovereign-wealth fund and the Qatar Financial Centre Authority will co-invest $250 million in the portfolio of in Barclays Natural Resource Investments, or BNRI, the two companies said………………………………………..Full Article: Source

Posted on 02 May 2012 by VRS |  Email |Print

Polyus Gold International Limited, the biggest gold producer in Russia, announced that its indirect, wholly-owned subsidiary, Jenington International Inc., has entered into separate agreements to sell in privately negotiated transactions. Polyus Gold International Limited is quoted to have the third largest gold reserves in the world.
151,607,496 ordinary shares, which represent 5% less one share of the company’s issued share capital to Chengdong Investment Corporation. Chengdong Investment Corporation is a wholly-owned subsidiary of CIC International Co., Ltd………………………………………..Full Article: Source

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