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Sovereign Wealth Funds Briefing 03.Jul 2012

Posted on 03 July 2012 by VRS |  Email |Print

Russia’s Reserve Fund stood at 1.985 trillion rubles on July 1, 2012 ($60.5 billion) while the National Welfare Fund came to 2.81045 trillion rubles ($85.64 billion), the Finance Ministry said in a statement.
It was earlier reported that the Reserve Fund came to 1.95388 trillion rubles ($60.21 billion) on June 1, 2012 while the National Welfare Fund stood at 2.77378 trillion rubles ($85.48 billion). Therefore, the Reserve Fund increased by 31.57 billion rubles in June while the National Welfare Fund expanded by 36.67 billion rubles………………………………………..Full Article: Source

Posted on 03 July 2012 by VRS |  Email |Print

The Abu Dhabi Investment Authority, the Kuwait Investment Authority, and the Alaska Permanent Fund are among the hundreds of sovereign wealth funds, pensions, asset managers, and other financial institutions worldwide that have been cited as possibly losing millions of dollars in foreign exchange services provided by BNY Mellon, an amended complaint by the US Justice Department has claimed.
The Justice Department had sued BNY Mellon in October in federal court in New York, when claiming that the bank defrauded federally insured banks in handling foreign exchange………………………………………..Full Article: Source

Posted on 03 July 2012 by VRS |  Email |Print

Malaysia launched on Tuesday the $2 billion initial public offering of state-backed hospital operator IHH Healthcare Bhd, marking the third biggest listing of the year globally and cementing its status as Asia’s top IPO destination for 2012.
Sovereign wealth fund the Kuwait Investment Authority, asset manager Blackrock and 20 other big “cornerstone” investors have committed to buy nearly two-thirds of the shares on offer. Khazanah Managing Director Azman Mokhtar said the listing would value its stake in IHH at 11 billion ringgit, an 83 percent jump from its equivalent investment cost of some 6 billion ringgit………………………………………..Full Article: Source

Posted on 03 July 2012 by VRS |  Email |Print

In the largest move since it invested $800m in an initial public offering (IPO) by the Agricultural Bank of China in 2010, the Kuwait Investment Authority (KIA) announced in June it would be investing $150m into a Malaysian IPO.
This move is expected to take advantage of growth in south-east Asia. The IPO by IHH Healthcare, a Malaysian health care firm, is set to launch in July. Predicted to raise around $2bn, it will be the country’s second-biggest IPO for 2012. Reuters reported that the KIA “has been lately keeping its powder dry amid volatile markets”, noting that this investment shows a new tone for the authority. KIA will be IHH Healthcare’s largest foreign investor and the second-largest overall, after EPF, a Malaysian pension fund………………………………………..Full Article: Source

Posted on 03 July 2012 by VRS |  Email |Print

Qatar’s banks may struggle to finance $130 billion of infrastructure projects if a worsening European debt crisis prompts foreign banks to pull back their business in the country, the nation’s planning office said.
The nation is the world’s biggest exporter of liquefied natural gas and home to the Qatar Investment Authority, the world’s 12th biggest sovereign wealth fund, according to the Las Vegas-based SWF Institute. After the 2008 global credit crisis, Qatar injected capital in its banks from its wealth fund and bought lenders’ equity and real estate portfolios………………………………………..Full Article: Source

Posted on 03 July 2012 by VRS |  Email |Print

Qatar’s new-found activist approach to the $58bn merger of Xstrata and Glencore has further distanced Qatar Holding from its regional sovereign wealth fund peers and placed it firmly in the spotlight.
Qatar Holding said in a statement last week that it was “seeking improved merger terms.” Glencore is offering 2.8 of its shares for each of the miner’s, but Qatar said an exchange ratio of 3.25 a share “would provide a more appropriate distribution of benefits of the merger”………………………………………..Full Article: Source

Posted on 03 July 2012 by VRS |  Email |Print

Qatar is in the process of finalising a deal with Starwood Capital to buy from the US group a portfolio of four luxury hotels in France for an undisclosed price. It is the latest in a wave of high-profile purchases in the country by the gas-rich emirate, which has led to a political backlash.
Most of the emirate’s investments in France, however, are made through another state entity - the Qatar Investment Authority , the sovereign wealth fund whose subsidiaries include Qatar Holding , its direct investment arm and Qatar Diar, the property investment group………………………………………..Full Article: Source

Posted on 03 July 2012 by VRS |  Email |Print

The Alaska Permanent Fund Corporation has given final approval to a $400m (€316m) commitment to a strategy that will purchase foreclosed homes and manage the assets as rental properties.
The investment will be combined with a $100m investment from the pension fund’s managing partner in the strategy, America Homes 4 Rent, based in California………………………………………..Full Article: Source

Posted on 03 July 2012 by VRS |  Email |Print

The Prime Minister of Kyrgyzstan Omurbek Babanov visited the office of the National Welfare Fund of the Republic Samruk-Kazina, where he met with the leadership of the fund, including the chairman Umirzak Shukeyev, the Kyrgyz government said.
The meeting focused on current issues in project management, which has the interests of both countries, particularly in the field of energy, transport and gas, Kazakh investment in national projects of Kyrgyzstan………………………………………..Full Article: Source

Posted on 03 July 2012 by VRS |  Email |Print

South Korea’s foreign reserves grew in June to 312.38 billion U.S. dollars due to a rise in conversion value of non-dollar denominated assets and a growth in investment returns, the central bank said Tuesday.
Foreign reserves reached 312.38 billion U.S. dollars as of the end of June, up 1.51 billion U.S. dollars from a month earlier, according to the Bank of Korea (BOK)………………………………………..Full Article: Source

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