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Sovereign Wealth Funds Briefing 30.Jul 2012

Posted on 30 July 2012 by VRS |  Email |Print

Barclays Plc is being investigated over whether it adequately disclosed fees it agreed to pay to the Qatar Investment Authority as it sought to raise money from investors including the sovereign wealth fund, according to a person with knowledge of the situation.
“The bank entered into an agreement for the provision of advisory services by Qatar Investment Authority to Barclays in the Middle East,” the lender said in a June 2008 statement detailing the fundraising. Britain’s Financial Services Authority is probing whether that disclosure was adequate, said the person, who declined to be identified because the terms of the investigation are private………………………………………..Full Article: Source

Posted on 30 July 2012 by VRS |  Email |Print

China Investment Corporation (CIC) is said to have set up a fund to seek exposure to the Australian resources sector. It reportedly involves a local fund manager and a multinational investment bank, and will make allocations worth $500m.
This activity may expand further, after CIC has suffered a negative return of 4.3% on its international equities holdings during 2011-12. Sovereign wealth funds like CIC in the past year have accounted for $A125bn worth of investment in the mining and energy industries across the globe………………………………………..Full Article: Source

Posted on 30 July 2012 by VRS |  Email |Print

Most soccer fans know Paris Saint-Germain for its money. A lot of money. The French club’s enormous wealth comes in the wake of its acquisition by the Qatar Investment Authority, the sovereign wealth fund of the oil-rich Middle Eastern nation.
But if things go according to manager Carlo Ancelotti’s plans, our knowledge we’ll all know PSG for something else: winning………………………………………..Full Article: Source

Posted on 30 July 2012 by VRS |  Email |Print

PineBridge Investments, a global investment firm with $67bn in assets, selected Bahrain to house its Middle East and North Africa regional headquarters. PineBridge Investments Middle East (PBIME) will be headed by Talal Al-Zain, former CEO of Mumtalakat, Bahrain’s sovereign wealth fund.
According to the Bahrain Information Affairs Authority, Al-Zain said: “With its strong and recognised regulatory environment, we believe that Bahrain is a good location to headquarter PBIME.”……………………………………….Full Article: Source

Posted on 30 July 2012 by VRS |  Email |Print

The country’s foreign exchange reserves went up by $589 million to $287.34 billion for the week ended 20 July amid rise in core currency assets, the Reserve Bank said. The reserves had fallen by $872.7 million to $286.75 billion in the previous reporting week.
Foreign currency assets, a major component of the forex reserves, were up by $565.5 million to $255.10 billion during the reporting week, the Reserve Bank said………………………………………..Full Article: Source

Posted on 30 July 2012 by VRS |  Email |Print

The primary role of France’s Caisse des Depots et Consignations, a state-run bank, isn’t to save troubled companies like PSA Peugeot Citroen and Doux SA, new head Jean-Pierre Jouyet told Journal du Dimanche in an interview.
The sovereign wealth Strategic Investment Fund, FSI, will decide what should be done, the newspaper cited Jouyet as saying. The CDC has a role to play in industrial recovery, although it has finite means, he said, according to the interview………………………………………..Full Article: Source

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