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Sovereign Wealth Funds Briefing 02.Nov 2012

Posted on 02 November 2012 by VRS |  Email |Print

The world’s largest sovereign wealth fund, GPFG of Norway, has invested $300 million with Korean manager Truston AMC to invest in domestic equities. The $650 billion Government Pension Fund Global (GPFG), which is managed by the AM arm of Norway’s Norges Bank, is investing the entire sum into mid- and small-cap Korean stocks, it is understood.
This represents a major departure for GPFG, which has voiced its intention to diversify into Asia and emerging markets and out of indebted Europe, among other things, as it struggles to meet a 4% return target amid the low interest-rate environment and volatile equity markets………………………………………..Full Article: Source

Posted on 02 November 2012 by VRS |  Email |Print

Global Logistic Properties Ltd. , a warehouse operator majority owned by a Singaporean sovereign wealth fund, is looking to raise up to $1.5 billion by listing some of its properties in Japan, in what could be the second-biggest initial public offering in that country this year, a person with knowledge of the deal said Friday.
The Singapore-listed company, which is 50.6% owned by the Government of Singapore Investment Corp., plans to complete the IPO for its Japanese real-estate investment corporation, also known as a J-REIT, by the end of this year, the person said………………………………………..Full Article: Source

Posted on 02 November 2012 by VRS |  Email |Print

Government of Singapore Investment Corp on Thursday named Mr Hsieh Fu Hua and two new members to its board as it announced the retirement of Richard Hu, the Bloomberg news agency reported.
Hsieh, who was previously CEO of the Singapore Exchange and will be replacing Wee Cho Yaw as chairman of United Overseas Bank next year, joined the GIC board on Thursday, the fund said………………………………………..Full Article: Source

Posted on 02 November 2012 by VRS |  Email |Print

Just over two years ago, IHH Healthcare Bhd was locked in a battle for Singapore’s Parkway Group with the Singh Bothers of India’s Fortis Group. The strategic chess match went on for weeks until IHH’s major shareholder, the Malaysian sovereign wealth fund Khazanah Nasional Bhd, put its muscle behind IHH.
The Parkway acquisition and the purchase of a 60% stake in Turkey’s Acibadem Group have made IHH the world’s second largest healthcare group, behind only US-based HCA Holdings Inc and ahead of Bangkok Dusit Medical Services Plc of Thailand………………………………………..Full Article: Source

Posted on 02 November 2012 by VRS |  Email |Print

Destination Resorts and Hotels (DRH), an entity set up by Khazanah Nasional Bhd, got the cogwheels churning to change the face of Desaru, starting with its Desaru Coast Phase 1 carrying a gross development value of RM5bil.
DRH managing director Nadziruddin Basri said the first phase, covering 1,800 acres, was targeted to be completed in 2015 but its various components would be opened as and when they were ready. “It is important to have Phase 1 come together at the same time. The idea is to stagger the project launches but have all ready in 2015………………………………………..Full Article: Source

Posted on 02 November 2012 by VRS |  Email |Print

China’s sovereign wealth fund announced on Thursday that it would buy a 10 per cent stake in Heathrow Airport near London for $727 million from the Spanish infrastructure company Ferrovial and other investors.
Ferrovial, which currently owns almost 50 per cent of the British airport, has been moving to reduce its debt burden by selling assets like its Heathrow holdings………………………………………..Full Article: Source

Posted on 02 November 2012 by VRS |  Email |Print

China Investment Corporation, the country’s $410-billion sovereign wealth fund, is eyeing investment opportunities in the high-end property market in Paris as it seeks higher yields than those from traditional financial assets, according to French property experts.
“We are in talks with CIC, which has expressed an interest in investing in the prime property market in Paris,” said Alexandra Li, head of Asia Business Development at real estate company Jones Lang LaSalle in France………………………………………..Full Article: Source

Posted on 02 November 2012 by VRS |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) starts announced investments in Russian real estate. The Russian media report that SOFAZ has already applied to the Federal Antimonopoly Service with request to review its application for purchase of commercial & business center “Actor Gallery” in the center of Moscow.
Earlier Russia’s Capital Insurance Group has put up for sale 100% of shares of company “Tverskaya, 16″ that owns “Actor Gallery”………………………………………..Full Article: Source

Posted on 02 November 2012 by VRS |  Email |Print

Just hours after cabinet approved the start of negotiations to award licences for gas exploration in four of Cyprus’ offshore blocks, Commerce Minister Neoclis Sylikiotis met with the Legal Service yesterday to discuss how best to manage the potential gas revenue.
Speaking to the state broadcaster, Sylikiotis said he gave instructions to the Attorney-general to prepare a bill setting up a hydrocarbons fund to handle the massive wealth expected from the natural gas in Cyprus’ exclusive economic zone (EEZ). The minister said the authorities were partly basing their plans on how to handle potential gas revenue on the “Norwegian model” of handling sovereign wealth produced from its own natural resources………………………………………..Full Article: Source

Posted on 02 November 2012 by VRS |  Email |Print

The “Samruk-Kazyna” Board of Directors has approved the offering price for KazTransOil notes within the “People’s IPO” at 725 tenge per share. The order book for people’s shares of KazTransOil closes on November 6.
According to the approved IPO procedure for KazTransOil, priority will be granted to filling orders of the market-maker in order to maintain prices for buying and selling the shares. Among investors, priority will be given to retail investors – the citizens of Kazakhstan – followed by the acceptance of orders from domestic pension funds………………………………………..Full Article: Source

Posted on 02 November 2012 by VRS |  Email |Print

Representative Mike Doogan is retiring as a lawmaker, but he’s at the center of an attack ad aimed at members of his own party. Several Democratic representatives are being targeted in the Republican Party’s ad, which uses this sound bite of Doogan from a press conference:
“The reason I want to put more money in the Permanent Fund: when the crash comes, we’re going to have more money to spend on government. The other frankly is to force the crash to happen sooner.”……………………………………….Full Article: Source

Posted on 02 November 2012 by VRS |  Email |Print

Just as Alaskans have received their Permanent Fund Dividend checks in their bank accounts, more than 400 nonprofit organizations will receive donations from the 2012 Pick. Click. Give. campaign in October.
Alaskans gave in record numbers this year, according to data provided by the Permanent Fund Dividend Division of the Alaska State Department of Revenue. As of April 1, the close of the regular 3-month filing period for the annual PFD, over 23,000 individuals had pledged more than 37,000 gifts totaling more than $2.2 million………………………………………..Full Article: Source

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