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Sovereign Wealth Funds Briefing 01.Oct 2012

Posted on 01 October 2012 by VRS |  Email |Print

Trond GrandeNorway’s $650 billion sovereign wealth fund is closing in on its first U.S. real estate investment as the market struggles with stagnant prices. The fund will invest in the U.S. “by the end of next year at the latest,” Trond Grande, deputy chief executive officer at Norges Bank Investment Management, said in a Sept. 27 interview in Molde, Norway.
“The U.S. is the largest real estate market so if you want to have a global portfolio you must have exposure to the U.S.” Built from Norway’s oil and gas wealth, the fund in 2010 got approval to invest as much as 5 percent of its capital in real estate as it seeks to meet a 4 percent return target………………………………………..Full Article: Source

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Posted on 01 October 2012 by VRS |  Email |Print

Dr. Fuad Al OmarAn Islamic Sovereign Wealth Fund of the GCC states that would focus on high-priority, capital deficit sectors is the need of the hour, a leading banker has said. Bahrain-based Shariah-compliant Khaleeji Commercial Bank (KHCB)’s Chairman Dr. Fuad Al Omar told DT that such a fund would not only be helpful to banks and financial institutions by providing them financial cushioning but also boost domestic industries growth through capital injection.
“The surplus revenue available due to the boom in oil prices needs to be mobilised in the form of capital for asset development,” he added………………………………………..Full Article: Source

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Posted on 01 October 2012 by VRS |  Email |Print

With the Federal Reserve providing extraordinary stimulus to get the economy growing again and the European Central Bank offering to buy bonds to limit the damage from the euro zone debt crisis, Qatar Prime Minister Sheikh Hamad Bin Jassim Bin Jabr al-Thani said in a CNBC interview he’s worried about what it will mean for the value of the two major global currencies.
Dealing with the issues piecemeal also has created anxiety for investors like the Qatar Investment Authority (QIA), al-Thani said. “What should happen is we should have a full package with a full strategy to solve the problems,” Al-Thani, the wealth fund’s chief executive, said………………………………………..Full Article: Source

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Posted on 01 October 2012 by VRS |  Email |Print

The take-off of the Sovereign Wealth has provided a veritable opportunity for the country not only to save for the raining day, but essentially to meet the rising challenges to nationhood, Festus Akanbi examines the groundwork for the all important policy as Nigeria marks its 52nd independence anniversary.
The inauguration of the Board and Management of Nigeria’s Sovereign Wealth Fund by the Federal Government, last month, has, no doubt, ushered in a new dawn towards a deliberate, planned and sustainable management of Nigeria’s earnings from crude oil………………………………………..Full Article: Source

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Posted on 01 October 2012 by VRS |  Email |Print

Zouk Capital LLP, a London-based private equity firm, invested in Lighting Science Group Corp. (LSCG) as the Florida-based maker of energy-efficient lighting seeks to reach profitability and boost sales. An unspecified sovereign wealth fund from the Middle East also added to the $49 million equity investment, Lighting Science, based in Satellite Beach, said in a statement.
LED lighting uses light-emitting diodes which are more efficient than traditional fluorescent and incandescent lamps. Energy efficiency equipment is attracting private equity investors such as Italy’s Ambienta SGR SpA and London-based Impax Asset Management Group Plc as power demand rises on the back of increased affluence in emerging markets………………………………………..Full Article: Source

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Posted on 01 October 2012 by VRS |  Email |Print

The China Investment Corporation (CIC), the nation’s sovereign wealth fund, announced Thursday that the annualized yield of its overseas investment stood at 3.9 percent since it was founded five years ago.
The company said the result showed that the corporation has maintained and increased the value of the nation’s foreign exchange reserves amid fluctuating global financial markets. According to the company’s 2011 business report, its overseas investment portfolio included 31 percent of long-term investments, 25 percent of diversified public equities, 21 percent of fixed-income securities, 12 percent of absolute return investments, and 11 percent of cash funds and others………………………………………..Full Article: Source

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Posted on 01 October 2012 by VRS |  Email |Print

Train operator SMRT Corp may have found a new spokesman, to fill a seat deemed hottest after the chief executive’s. It is looking to Mr Stephen Forshaw, currently managing director of corporate affairs at government investment group Temasek Holdings, to replace Mr Goh Chee Kong, who leaves the group on Oct 31.
Temasek is the main shareholder of SMRT, owning about 54 per cent of the rail company. Mr Forshaw, 42, an Australian who is a permanent resident here, is expected to sign on the dotted line soon………………………………………..Full Article: Source

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Posted on 01 October 2012 by VRS |  Email |Print

Alaska Permanent Fund Corp., Juneau, is searching for three to five active domestic large-cap equity managers to each run $50 million to $100 million, said spokeswoman Laura Achee.
The $42.2 billion sovereign wealth fund is looking for both growth and value strategies. Funding is coming from rebalancing, Ms. Achee said……………………………………….Full Article: Source

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