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Sovereign Wealth Funds Briefing 12.Oct 2012

Posted on 12 October 2012 by VRS |  Email |Print

Abu Dhabi’s sovereign wealth fund Aabar sold its remaining 3.07 percent stake in Daimler worth about 1.25 billion euros ($1.6 billion) on Oct. 5, the German carmaker said in a regulatory filing on Thursday.
The move, widely expected for some time, could heighten pressure on Daimler Chief Executive Dieter Zetsche, who has had to fight off calls from some investors to sell or spin off the group’s commercial trucks business to concentrate on its underperforming flagship, the luxury car brand Mercedes-Benz………………………………………..Full Article: Source

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Posted on 12 October 2012 by VRS |  Email |Print

Central Huijin Investment Ltd, an arm of sovereign wealth fund China Investment Corp, has pledged to continue to shore up the capital market by buying stakes of four major State-owned lenders. It has been purchasing shares of the Big Four banks in the secondary market since Wednesday, and will continue doing so.
The four lenders are Industrial and Commercial Bank of China Ltd, China Construction Bank Corp, Agricultural Bank of China Ltd, and Bank of China Ltd. Central Huijin’s statement means the major shareholder in China’s main State-owned banks has extended a year-long purchase program that lapsed on Wednesday………………………………………..Full Article: Source

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Posted on 12 October 2012 by VRS |  Email |Print

Norway’s giant Pension Fund has made its first ever allocation to Germany, acquiring a €784m portfolio of two buildings in a co-investment joint venture with Paris-based investment manager AXA Real Estate. Seller was Britain’s Royal Bank of Scotland.
The deal is being done by AXA Real Estate Investment Managers on behalf of AXA France insurance companies, and Norges Bank Investment Management, the arm of the Norwegian central bank which manages the €482bn national pension fund, also known as the Oil Fund and one of the world’s the largest sovereign wealth funds………………………………………..Full Article: Source

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Posted on 12 October 2012 by VRS |  Email |Print

Kazakhstan’s central bank created a unit to oversee investments of a 10 to 20-year duration to diversify and increase returns on its holdings. JSC National Investment Corporation of the National Bank of Kazakhstan will invest reserves and National Oil Fund money in “traditional and alternative assets in international financial markets,” the Almaty-based bank said.
Kazakhstan, the biggest oil producer in central Asia, is seeking to boost returns on its reserves after its 7.4 trillion tenge ($49 billion) National Oil Fund reaped 60 billion tenge in investment profit last year. Assets in the Kazakh National Oil Fund, which is managed by the central bank, and foreign-exchange reserves amounted to $85.5 billion in September………………………………………..Full Article: Source

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Posted on 12 October 2012 by VRS |  Email |Print

From the art world to the airline industry and on to the United Nations, the tiny Gulf nation of Qatar has been leaving a big footprint wherever it goes. The Qatar Investment Authority has spent more than $4.3 billion this year on eight deals in Europe, including a shopping mall on the Champs Elysees in Paris, the London Olympic athletes village and the Italian fashion house, Valentino. It has invested in some of France’s top companies”Louis Vuitton, TOTAL, and the Carlton Hotel in Cannes.
Qatar has been investing millions of Euros in European banks, real estate, fine art and football clubs and will host the 2022 FIFA World Cup”all this while providing considerable financial support to the countries of the Arab Spring. All in all, Qatar’s investments across the globe are estimated at about $60 billion………………………………………..Full Article: Source

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