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Sovereign Wealth Funds Briefing 09.Oct 2012

Posted on 09 October 2012 by VRS |  Email |Print

The Government should establish a “British sovereign wealth fund” to channel billions of pounds of pension fund money into infrastructure, the head of the British Chambers of Commerce (BCC) has said.
As the Tory party conference gets under way, John Longworth, director general of the BCC, has called for David Cameron and George Osborne to unveil a clear, “deliverable” infrastructure policy. “The Government’s £250bn infrastructure budget, is an amalgamation of every conceivable project that might happen over the next decade – it is by no means a plan to actually do it,” he said………………………………………..Full Article: Source

Posted on 09 October 2012 by VRS |  Email |Print

Norway’s $650 billion sovereign wealth fund bought a 50 percent stake in the Meadowhall Shopping Centre in northern England for 348 million pounds ($560 million), its second U.K. acquisition.
The fund purchased the stake from London & Stamford Property Plc (LSP) and Green Park Investments, Norges Bank Investment Management said in a statement today. The transaction values the mall at 1.53 billion pounds including debt, according to the bank, which manages the Norwegian fund. The net yield is 5.09 percent at that price………………………………………..Full Article: Source

Posted on 09 October 2012 by VRS |  Email |Print

Sigbjørn Johnsen, Norway’s minister of Finance, has reiterated the strength of the country’s sovereign wealth fund in his briefing on the latest proposed Budget. He said that the country’s economy overall was performing better than predicted in May this year despite the strength of NOK hitting exporters in sectors other than oil and gas.
Meanwhile, the consolidated surplus on the Budget and the Government Pension Fund, including NOK131bn in interest and dividends, is estimated at NOK380bn, or 12.7% of GDP………………………………………..Full Article: Source

Posted on 09 October 2012 by VRS |  Email |Print

The Samruk-Kazyna National Welfare Fund may become the sole shareholder of BTA Bank until the end of the year. The fact is that according to the new terms of debt restructuring, the fund will convert a part of its deposits in the bank’s equity.
Apart from that, Samruk-Kazyna will provide BTA a loan exceeding 1.5 billion US dollars. While addressing a press conference Yerik Balapanov, the bank’s Chairman of the Board, noted that the exact capital contribution of the state fund will depend on the technical procedures………………………………………..Full Article: Source

Posted on 09 October 2012 by VRS |  Email |Print

The establishment of the Sovereign Wealth Fund (SWF), though coming more than two years after the idea was first mooted, will give the country a legal underpinning for saving for the future. It is an indication of the collective will of Nigerians to actualise their dream of a better future.
Our first attempt at a national savings scheme started in 2003 with the establishment of the Excess Crude Account. One of the biggest challenges of the ECA, which is still affecting it, is that it was never backed by law………………………………………..Full Article: Source

Posted on 09 October 2012 by VRS |  Email |Print

Sampoerna group, one of Indonesia’s leading conglomerates, is leading a consortium of local investors that is in talks to buy a 50 percent stake in PT Fajar Bumi Sakti, a coal unit of Bumi Resources, for around $200 million, sources said.
The move is part of a plan by Bumi Resources to pay down some of its $3.9 billion debt, which includes $1.5 billion owed to sovereign wealth fund China Investment Corp………………………………………..Full Article: Source

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