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Sovereign Wealth Funds Briefing 20.Nov 2012

Posted on 20 November 2012 by VRS |  Email |Print

The Cook Islands Government is planning the establishment of a sovereign wealth fund for the storing of revenues generated by seabed mining. The Finance Minister, Mark Brown, this week released a report by the International Monetary Fund on its recommendations on the design of a sovereign wealth fund.
The policy objectives of the fund are to protect in perpetuity government revenues resulting from seabed mineral mining, to stabilise fiscal revenues from fluctuations and enhance returns on reserves………………………………………..Full Article: Source

Posted on 20 November 2012 by VRS |  Email |Print

The sovereign fund of Qatar and an investment fund backed by the Italian government have agreed to invest up to €2 billion ($2.55 billion) in Italian companies over the next four years.
In a joint statement, Italy’s Fondo Strategico Italiano SpA and Qatar Holding LLC said Monday they will equally contribute funding to a new joint venture, providing the firm with €300 million at its launch………………………………………..Full Article: Source

Posted on 20 November 2012 by VRS |  Email |Print

Qatar agreed on Monday to invest as much as 1 billion euros ($1.3 billion) in Italian companies, aiding efforts by Italy’s Prime Minister Mario Monti to breathe life into a weak economy.
A joint venture between Italy’s strategic investment fund and state-owned Qatar Holding will invest in sectors including food, fashion and luxury goods, furniture and design, tourism and leisure, the Italian fund said in a statement on Monday………………………………………..Full Article: Source

Posted on 20 November 2012 by VRS |  Email |Print

Europe’s biggest sovereign wealth fund, Norway’s Government Pension Fund, is set to take more active role in public policy and lobbying on behalf of other institutional investors, as efforts get underway to strengthen the buyside’s voice in regulatory affairs.
In a ‘discussion note’ published yesterday outlining its new approach, the €508bn Norwegian fund said: “Up until now, the sellside, represented by major banks, has been far more active on the advocacy front.” The Norwegian sovereign wealth fund, which is financed by oil revenues and managed by Norges Bank Investment Management, is so large it owns over 1% of all the companies listed on global markets………………………………………..Full Article: Source

Posted on 20 November 2012 by VRS |  Email |Print

Norway’s Government Pension Fund Global returned 4.7%, or NOK167bn (Eur22.6bn; US$28.9bn) in the third quarter (Q3) of 2012 as global stock markets rallied. The fund returned 14.5% in the last 12 months and 6.5% in the last three years.
According to a fund’s Q3 report published by Norges Bank Investment Management (NBIM) earlier this month, returns contributions came from equity investments (6.5%) and fixed-income investments (2.2%). Investments in real estate gained 2.7%. The overall return was 0.03 percentage point lower than the return on the fund’s benchmark indices………………………………………..Full Article: Source

Posted on 20 November 2012 by VRS |  Email |Print

German luxury carmaker Daimler has taken full control of the Mercedes Formula One motor racing team after buying a 40 percent stake owned by Abu Dhabi sovereign wealth fund Aabar Investments.
The sale of the Formula One stake is a logical step for Aabar which has been cutting its ties with Daimler. Aabar’s disposal in October was triggered by a failed derivatives deal underpinning the investment firm’s purchase of the shares, sources familiar with the matter told Reuters………………………………………..Full Article: Source

Posted on 20 November 2012 by VRS |  Email |Print

Abu Dhabi fund manager Invest AD is launching its first fixed income fund, breaking from its historical focus on equity products, with the aim of taking advantage of opportunities in region’s debt markets.
The fund, launched on Monday, will be managed by Dilawer Farazi, who joined the firm from Man Group’s GLG Partners in April and target corporate and sovereign debt in the Middle East and Africa. The Luxembourg-domiciled fund was seeded with $25m from Invest AD and will focus on US dollar-denominated debt………………………………………..Full Article: Source

Posted on 20 November 2012 by VRS |  Email |Print

Abu Dhabi-based asset manager Invest AD launched a new Middle East and Africa focused on fixed income fund on Monday, seeking to tap potential for significant returns in the fast-growing emerging markets.
Despite a recent rally on emerging market bonds globally, where yields on some regional bonds fell to historic lows, many are still undervalued relative to the underlying credit quality of issuers, analysts say………………………………………..Full Article: Source

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