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Sovereign Wealth Funds Briefing 06.Dec 2012

Posted on 06 December 2012 by VRS |  Email |Print

One of the reasons infrastructure investment by British pension funds is relatively low, compared with (for example) infrastructure investment by Canadian pension funds, is that the UK’s pension fund industry is fragmented: there aren’t that many huge pension funds with the resources and appetite to make big long-term investments in new roads, or railways or airports.
And to tell you what you already know, the UK doesn’t have a huge sovereign wealth fund, of the sort they have in Norway, much of the Middle East and Asia, keen and able to make massive long-term investments in the gubbins that underpin a nation’s ability to grow and create wealth………………………………………..Full Article: Source

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Posted on 06 December 2012 by VRS |  Email |Print

Investors in BTA Bank (BTAS), Kazakhstan’s third-largest bank by assets, accused its controlling shareholder, the Central Asian nation’s sovereign wealth fund Samruk-Kazyna, of defrauding them.
The investors claim in a lawsuit in Manhattan federal court that BTA Bank, which isn’t named as a defendant, defrauded them by inducing them to buy debt securities as part of a 2010 restructuring. The bank did so, the investors claim, by promising that virtually no dividends or distributions would be paid to X1Q6MH7D9182, which is a defendant………………………………………..Full Article: Source

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Posted on 06 December 2012 by VRS |  Email |Print

The New Zealand Superannuation Fund has been named the world’s most innovative sovereign fund. Last night, the Fund won the prestigious Sovereign Wealth Fund category in the 2012 aiCIO Industry Innovation Awards in New York.
The other finalists were the Australian Future Fund; Singaporean fund GIC; Norges Bank Investment Management and the State Oil Fund of Azerbaijan. Chairman Gavin Walker said the award recognised the Fund’s transparency, consensus-based decision-making and a shift away from a traditional asset allocation ‘bucket’ approach to investing………………………………………..Full Article: Source

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Posted on 06 December 2012 by VRS |  Email |Print

Government of Singapore Investment Corp. is set to buy a group of resorts owned by hedge fund Paulson & Co. for $1.5 billion after no competing bidders emerged for the bankrupt properties.
An auction for the properties was canceled after no competing bids were received, leaving GIC, a sovereign wealth fund, as the successful bidder, according to a filing today in U.S. Bankruptcy Court in Manhattan………………………………………..Full Article: Source

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Posted on 06 December 2012 by VRS |  Email |Print

Singapore state-investment company Temasek Holdings Pte. Ltd. has bought a stake in a Turkish government-owned bank and is looking at other lenders as it makes its first entry into the fast-growing economy, people with knowledge of the process said.
With a portfolio of more than $160 billion, Temasek is looking to expand into emerging markets both within and outside Asia, with a focus on buying banks as a way to benefit from the rising spending by the growing middle class. Temasek already holds stakes worth $18 billion in China, mostly in state-owned banks………………………………………..Full Article: Source

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Posted on 06 December 2012 by VRS |  Email |Print

Olam International Ltd., the commodity trader that Muddy Waters LLC alleges is in danger of default, said banks hired to help sell $1.25 billion in bonds and warrants didn’t raise concerns about its credit position in discussions with shareholder Temasek Holdings Pte.
Credit Suisse Group AG, DBS Bank Ltd., HSBC Holdings Plc and JPMorgan Chase & Co “confirm that there was no mention of any concern regarding Olam’s credit position in their discussions with Temasek,” which is supporting the bond sale, Singapore-based Olam said in a statement on its website………………………………………..Full Article: Source

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Posted on 06 December 2012 by VRS |  Email |Print

Malaysia’s state investor Khazanah Nasional Bhd launched on Wednesday an up to $360 million offering of shares in AIA Group, IFR reported, citing a term sheet of the transaction.
Khazanah, through its Mount Swettenham Investments unit, is offering 92.35 million AIA shares in a range of HK$29.84-HK$30.20 each, equivalent to a discount of up to 1.2 percent to Wednesday’s close, added IFR, a Thomson Reuters publication………………………………………..Full Article: Source

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Posted on 06 December 2012 by VRS |  Email |Print

Malaysia’s state investor Khazanah Nasional Bhd has raised US$356 million by selling shares in AIA Group Ltd., a person familiar with the situation said Thursday.
Khazanah, through its Mount Swettenham Investments unit, sold 92.35 million shares at HK$29.84 each, at the low end of the indicative price range of HK$$29.84-HK$30.20, said the person, adding the deal was covered shortly after its Wednesday launch. The final price represented a 1.2% discount to Wednesday’s closing price of HK$30.20………………………………………..Full Article: Source

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Posted on 06 December 2012 by VRS |  Email |Print

Kuwait Investment Authority (KIA) organized a forum in cooperation with Morgan Stanley Corp. at the headquarters of the Arab Fund for Economic and Social Development (AFESD).
Abdullatif al-Hamad, board chairman of AFESD, in a speech opening the forum, applauded such meetings among finance and economy specialists in that they offered an opportunity to examine the global financial and economic picture and seek solutions for problems affecting that picture………………………………………..Full Article: Source

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Posted on 06 December 2012 by VRS |  Email |Print

Qatar has upped its stake in its bourse from 80 percent to 88 percent, with NYSE Euronext holding the remaining 12 percent stake.According to a press statement issued by Qatar Exchange (QE) yesterday, Qatar Holding which had 80 percent stake in the bourse, has bought back eight percent stake from NYSE Euronext.
Qatar Holding is the direct investment arm of Qatar’s strategic sovereign wealth fund, the Qatar Investment Authority (QIA). Euronext had bought 20 percent stake in the QE in 2009 as part of a five-year strategic agreement to transfer knowledge and develop the Qatari equity market………………………………………..Full Article: Source

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Posted on 06 December 2012 by VRS |  Email |Print

This year Alaskans received a dividend of $878, not bad compared to all the other states, but this dividend is the smallest since 2005, and it is only the second time in more than 20 years that the dividend has been below $900 per person. Alaska’s Permanent Fund Dividend (PFD) needlessly fluctuates widely.
This year’s dividend is 25 percent smaller than last year’s dividend of $1,174, and it is 57 percent smaller than the 2008 record-high dividend of $2,069 (not counting the one-time supplement of $1,200 that was added to that year’s dividend)………………………………………..Full Article: Source

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Posted on 06 December 2012 by VRS |  Email |Print

Alaskans have about $40 billion invested in our Alaska Permanent Fund. These dollars are invested in businesses and nations throughout the world. Most believe dollars are wealth. In the end, dollars are only a tool used to help the people prosper. Our dollars, created by the private Federal Reserve Bank are accepted around the globe. They are backed by nothing more than the “good faith and credit” of the American people.
One day, the people of the world will no longer accept our dollars, simply on “good faith and credit.” What happens to our permanent fund then? Do we actually own some tangible assets?……………………………………….Full Article: Source

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