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Sovereign Wealth Funds Briefing 18.Jul 2012

Posted on 18 July 2012 by VRS |  Email |Print

Janez Jansa Slovenian lawmakers are set to approve the creation of a sovereign wealth fund that will take bad loans from the country’s banks to shore up the financial industry during the credit crisis and spur economic growth.
The fund will streamline the management of state assets by merging bodies that have so far managed more than 10 billion euros ($12.3 billion). Lawmakers will vote on it this week, parliament’s spokeswoman Karmen Uglesic said………………………………………..Full Article: Source

Posted on 18 July 2012 by VRS |  Email |Print

Yngve SlyngstadNorway’s sovereign wealth fund has been buying up holdings in FTSE 100 companies, continuing its liquid-led investment strategy. Norway has become the largest sovereign shareholder in FTSE 100 companies after amassing $30.7 billion (£25 billion) of holdings.
The fund’s purchase makes it the largest state investor in the UK’s blue-chip index and the third largest overall, according to the newspaper’s investigation. The stakes include luxury brand Burberry, UK retailer Marks & Spencer, insurer Prudential, property investor British Land, and Rolls-Royce. The stakes are operated through Norges Bank Investment Management (NBIM), which manages the Norwegian oil-revenue fund………………………………………..Full Article: Source

Posted on 18 July 2012 by VRS |  Email |Print

Folketrygdfondet, the fund manager in charge of the Norwegian Government Pension Fund and Bond Fund, has gone live on the latest version of Charles River’s Investment Management System (IMS).
The long-term asset manager will use the hosted Charles River platform to support the trading and processing of equity, fixed income, forex (FX) and derivative instruments, and automate the portfolio management, compliance, order and execution management processes………………………………………..Full Article: Source

Posted on 18 July 2012 by VRS |  Email |Print

Bahrain’s $9 billion sovereign wealth fund Mumtalakat said its full-year consolidated net losses widened due to higher provisions and reduced income from associate companies.
Mumtalakat, which owns sta+kes in firms such as Gulf Air and Aluminium Bahrain, made a net loss of 270.6 million dinars ($717.68 million) in 2011, it said in a statement on its website. That compares with a loss of 234.3 million dinars in 2010. Losses from struggling national carrier Gulf Air in particular weighed on the fund’s income………………………………………..Full Article: Source

Posted on 18 July 2012 by VRS |  Email |Print

Federal Government lawyers and those of governors of the 36 states of the federation have been directed to finalise their positions on the Excess Crude Account and resolve within themselves in two weeks time before the next National Economic Council (NEC) meeting ahead of the September 2nd date given by the Supreme Court to settle out-of-court.
Also, the Federal Government has hinted that it wouldsoft pedal on domestic debts which, according to it, has reached a critical level………………………………………..Full Article: Source

Posted on 18 July 2012 by VRS |  Email |Print

Temasek Holdings has sold US$1.7 billion worth of US dollar bonds in an offering that was heavily oversubscribed, allowing it to raise long-term funds at record-low interest rates. It received orders totalling US$7.6 billion - some 4.5 times the original size of the offer - from institutional investors worldwide.
The strong demand allowed Temasek to price the bonds - issued in two tranches - at lower yields than originally expected………………………………………..Full Article: Source

Posted on 18 July 2012 by VRS |  Email |Print

Temasek Holdings will sell a total of US$1.7 billion (S$2.14 billion) in bonds at yields slightly below its initial guidance as orders swelled to US$7.6 billion, underscoring investor confidence in the Singapore investment giant.
Temasek will sell US$1.2 billion in 10.5-year bonds priced at a yield to maturity of 2.466 per cent, which is a spread of 100 basis points over 10-year benchmark United States Treasuries, it said………………………………………..Full Article: Source

Posted on 18 July 2012 by VRS |  Email |Print

With private equity firms testing the limits of limited partners’ ability and willingness to fill their new-fund coffers, sovereign wealth funds (SWFs) are emerging as a potential source of capital to help bridge the fund-raising gap.
Managers of investible assets of some of the world’s richest nations, SWFs command enormous resources, which have quadrupled over the past decade to some $4.7 trillion in 2011. Increasingly, SWFs are looking to deploy assets in alternative investments, of which PE is a prime candidate………………………………………..Full Article: Source

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