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Sovereign Wealth Funds Briefing 16.May 2012

Posted on 16 May 2012 by VRS |  Email |Print

Leung Chun-yingChief Executive-designate Leung Chun-ying’s proposal to set up a “sovereign wealth fund” would help stabilize the SAR financial market and facilitate the government’s long-term investment plan, according to a top banker.
Tse Yung-hoi, deputy chief executive of BOC International, said the wealth fund can be funded through budget surpluses rather than from the Exchange Fund. “[The government] cannot keep coming up with handouts today when it has surpluses, and then raise taxes tomorrow when it doesn’t have enough money,” he told Sing Tao Daily, a sister publication of The Standard………………………………………..Full Article: Source

Posted on 16 May 2012 by VRS |  Email |Print

There is talk among politicians that Hong Kong is thinking of creating a sovereign wealth fund that is a strategic sovereign wealth fund similar to Singapore’s Temasek Holdings. The fund could assist in bringing stability to the Hong Kong market and help with the government’s long-term investment plans.
Sovereign funding could stem from government budget surpluses, though some money could come from the HKMA’s exchange fund. In 2007, the idea gained some traction but was shot down since the exchange fund already served the purpose………………………………………..Full Article: Source

Posted on 16 May 2012 by VRS |  Email |Print

Samruk Kazyna Sovereign Wealth Fund will consider exiting the BTA Bank’s ownership structure after the second debt restructuring has been finalized, the Fund’s Director for Financial Assets Management Mr. Aidar Ryskulov said May 15 at the annual Fitch Ratings conference in Astana, KazTag Agency reports.
“The Fund’s management is fully aware that soonest debt restructuring at BTA is of prime importance for the national banking sector (…) The Fund has no intention of retaining its stakes in banks for a long time………………………………………..Full Article: Source

Posted on 16 May 2012 by VRS |  Email |Print

The West Australian government has dismissed a report claiming the state cannot afford a Norway-style sovereign wealth fund - just as it prepares to unveil its own.
Business lobby group the Chamber of Commerce and Industry of WA (CCIWA) on Tuesday released a report on the proposal, saying the state would be financially straightjacketed by such a fund………………………………………..Full Article: Source

Posted on 16 May 2012 by VRS |  Email |Print

Western Australia cannot afford a sovereign wealth fund and will be financially straightjacketed if it is introduced by the Colin Barnett-led government, the state’s peak business lobby group says.
The Liberal leader last year said the state was considering introducing a Norway-style sovereign wealth fund for a portion of royalty income or budget surpluses so future generations could benefit from its strong resources sector………………………………………..Full Article: Source

Posted on 16 May 2012 by VRS |  Email |Print

The Gulf state of Qatar accumulated a small stake in Siemens, Germany’s most valuable company, worth roughly 2.4 billion euros ($3.08 billion), adding to the natural gas-rich country’s portfolio of minority investments around the world.
Last week, sovereign wealth fund Qatar Investment Authority (QIA) bought a stake in Royal Dutch Shell, and earlier reports said that it was looking at a 3-5 percent stake………………………………………..Full Article: Source

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