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Sovereign Wealth Funds Briefing 13.Dec 2012

Posted on 13 December 2012 by VRS |  Email |Print

New Zealand Superannuation Fund has excluded three companies from its US$17 billion portfolio for their roles in the Israel-Palestine conflict. The sovereign wealth fund passively held shares of Africa Israel Investments, its subsidiary construction company, Danya Cebus, and Shikun & Binui in its global equity portfolio. The Israel-based holding/construction companies transgressed NZ Super’s relatively strict responsible investing policy and cannot reenter the portfolio until in they are compliance.
The firms were excluded for “their involvement in constructing Israeli settlements…and a separation barrier in the Occupied Palestinian Territories,” according to a statement from NZ Super………………………………………..Full Article: Source

Posted on 13 December 2012 by VRS |  Email |Print

Experts that converged in Abuja Tuesday to x-ray the nation’s economic indices canvassed the integration of the Sovereign Wealth Fund (SWF) into the annual budget as well as an aggressive diversification of the economy with non-oil export as the fulcrum.
The forum was the fourth Economic Policy and Fiscal Strategy seminar organised by the Centre for the Study of the Economies of Africa (CSEA)………………………………………..Full Article: Source

Posted on 13 December 2012 by VRS |  Email |Print

Nigeria’s 36 state governors want a $1 billion payout from the country’s crude oil savings account to fund projects, said Sokoto state Deputy Governor Mukhtar Shagari.
The governors want the federal government to disburse “at least about $1 billion from the excess crude account to help the state governments to meet up with their financial responsibilities as the year is coming to an end, because most of the states have contracts that are ongoing and are very important to the people of this country,” Shagari, who spoke on behalf of the governors, said today in an e-mailed statement from Abuja, the capital………………………………………..Full Article: Source

Posted on 13 December 2012 by VRS |  Email |Print

China Investment Corporation is expected to more than double its money when it offloads a 6.9 per cent stake in the Goodman Group for $519.2 million, just 3 1/2 years after the sovereign wealth fund first bought into the listed Australian industrial property giant in 2009.
The deal, fully underwritten by investment bank Goldman Sachs, involves 166.7 million securities being sold with a floor price of $4.45, which leaves CIC with a stake of about 9.9 per cent. Morningstar Equities analyst Tony Sherlock said that CIC had picked up the stake “for a song” and made an “amazing return” on its investment………………………………………..Full Article: Source

Posted on 13 December 2012 by VRS |  Email |Print

Goodman Group (Goodman or the Group) notes the sale of GMG securities undertaken by China Investment Corporation (CIC) and acknowledges the great support that CIC has provided to Goodman since participating in its recapitalisation in 2009.CIC’s investment in Goodman has performed well over this period and following its partial sale of
GMG securities, CIC continues to be the Group’s largest investor. Goodman Group Chief Executive Officer, Greg Goodman said, “We have a strong relationship with CIC and look forward to further building on this as we explore opportunities in all of the major markets in which Goodman operates globally.”……………………………………….Full Article: Source

Posted on 13 December 2012 by VRS |  Email |Print

Khazanah Nasional Berhad has given its commitment to allocate RM10 million to protect Pulau Kukup National Park and Tanjung Piai National Park from coastal erosion, Johor National Park Corporation director Suhairi Hashim said.

“The allocation is for the installation of sand-filled structures called Geotubes to control erosion, as well as oil detection buoy and litter trap up to one kilometre away from the beach, by March next year as part of the company’s social corporate responsibility,” he said………………………………………..Full Article: Source

Posted on 13 December 2012 by VRS |  Email |Print

Khazanah Nasional Bhd, the investment holding arm of the Malaysian government, sold 60 million shares, or a 1.1% stake, in state power company Tenaga Nasional Bhd (5347.KU) for 406.8 million ringgit ($133.4 million) Wednesday through a private placement.
The shares were sold at MYR6.78 apiece, representing a 2.0% discount to Tuesday’s closing price, according to a joint statement from banks involved in the private placement. CIMB and Deutsche Bank were the joint placement agents for the deal………………………………………..Full Article: Source

Posted on 13 December 2012 by VRS |  Email |Print

Russia’s National Welfare Fund should invest up to 100 billion roubles ($3.25 billion) into Russian securities next year, President Vladimir Putin said on Wednesday in his an annual state-of-the-nation address.
The National Welfare Fund, presently worth $87.5 billion, is the larger of two sovereign wealth funds accumulated from oil revenues. It is designated to support the long-term stability of the pension system, and is presently mostly invested abroad in bonds of western governments. ($1 = 30.7530 Russian roubles)……………………………………….Full Article: Source

Posted on 13 December 2012 by VRS |  Email |Print

Investment decisions of sovereign wealth funds (SWFs) differ from those of other institutional investors, academic research demonstrates. SWFs, similar to other institutional investors, are less likely to invest in private equity versus public equity internationally, according to a newly published paper, written by Sofia Johan of York University, April Knill of Florida State University, and Nathan Mauck from the University of Missouri.
However, the economic significance of this impact is surprisingly low, the paper asserted. “Unlike other institutional investors, SWFs are more likely to invest in private equity versus public equity in target nations where investor protection is low and where the bilateral political relations between the SWF and target nation are weak.”……………………………………….Full Article: Source

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