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Sovereign Wealth Funds Briefing 17.Oct 2012

Posted on 17 October 2012 by VRS |  Email |Print

Tom LaMacchia left his role as a partner at US law firm White & Case in Japan earlier this month to join Qatar’s $115 billion sovereign wealth fund, which plans to invest $30 billion this year.
He has already started in his new post in Doha at Qatar Investment Authority (QIA), which did not respond to AsianInvestor requests for comment on the hire. A source says LaMacchia’s role will involve advising on fund investments and M&A work. The latter is likely to take up most of his time, but he will probably also advise on tailoring funds to meet QIA’s requirements………………………………………..Full Article: Source

Posted on 17 October 2012 by VRS |  Email |Print

The Abu Dhabi Investment Authority (ADIA), by the end of September, stands at the second place in the global list of the largest sovereign wealth funds with assets amounting to $627 billion whereas Norway’s Government Pension Fund has topped the list. Total assets of 57 sovereign wealth funds around the world stood at around $5.14 trillion.
According to the latest rankings of the Washington-based Sovereign Wealth Fund Institute, the Investment Corporation of Dubai came in the 14th place worldwide with assets amounting to $70 billion………………………………………..Full Article: Source

Posted on 17 October 2012 by VRS |  Email |Print

The Minister of Finance and Coordinating Minister for the economy, Dr. Ngozi Okonjo-Iweala, has predicted that the nation’s Excess Crude Account would rise up to $10 billion by early 2013. “I strongly feel, and I have shared with the governors, with Mr. President and vice-president who fully support that the Excess Crude Account must be built up to 10 billion dollars. We should strive to do that in the next few months and we keep that as buffer,” she said.
According to her, if the account is built up to 10 billion dollars and it is not touched for a while, it will serve as buffer………………………………………..Full Article: Source

Posted on 17 October 2012 by VRS |  Email |Print

The prime minister of Qatar has given the clearest signal yet that his country’s sovereign wealth fund will back the $80bn (£50bn) tie-up between commodity giant Glencore and the mining group Xstrata.
Sheikh Hamad bin Jassim Al Thani said the Gulf state now saw Glencore’s improved bid for Xstrata in a positive light. Speaking to reporters in Qatar’s capital, Doha, he said: “We are looking in favour of a merger between the two companies.”……………………………………….Full Article: Source

Posted on 17 October 2012 by VRS |  Email |Print

Qatar’s sovereign wealth fund is “seriously looking” at a potential investment in the commodities trading unit of Morgan Stanley, the country’s Prime Minister said.
Morgan Stanley was is in talks to sell a piece of its commodities-trading business to a sovereign wealth fund from Qatar, a move that could help it avoid being hit by new proprietary trading rules while still retaining a piece of the lucrative business………………………………………..Full Article: Source

Posted on 17 October 2012 by VRS |  Email |Print

The New Zealand Superannuation Fund, which was set up to pre-fund baby boomers’ pension liabilities, is in talks to sell a group of North Island forests, though negotiations to buy out Harvard University’s endowment fund stake in the Kaingaroa forest have stalled.
The Cullen Fund, so-called for its architect former Finance Minister Michael Cullen, had 11 forest estates valued at some $91.1 million available for sale as at June 30, according to its annual report. The fund sought offers for land, forest crop and carbon credits in April and received bids in May………………………………………..Full Article: Source

Posted on 17 October 2012 by VRS |  Email |Print

The Bill on State Budget 2013 has been introduced into Milli Majlis (parliament of Azerbaijan) and was published in accord with regulations of legislation. The President offered to establish a transfer from the State Oil Fund (SOFAZ) to the state budget at the level of AZN 11.35 bn, and transfer from the state budget to the budget of the State Social Protection Fund at AZN 1.077 bn.
Defense spending is proposed at the level of AZN 1.528 bn and investment at AZN 6.915 bn………………………………………..Full Article: Source

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