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Sovereign Wealth Funds Briefing 22.Jan 2013

Posted on 22 January 2013 by VRS |  Email |Print

Azerbaijan’s State Oil Fund, known as Sofaz, said its assets grew 14.5 percent last year to $34.1 billion as of Jan. 1. Sofaz, established in 1999 to manage the Caspian Sea nation’s income from sales of oil and natural gas, transferred $12.6 billion to Azerbaijan’s state budget, according to a statement e-mailed by the Baku-based fund today.
The fund channeled $382 million to fund construction of housing for people displaced by the war with neighboring Armenia over the Nagorno-Karabakh region, according to the statement. It invested $255 million in reconstruction of the Samur-Absheron irrigation system and spent $152 million on the Baku-Tbilisi- Kars railway project, Sofaz said………………………………………..Full Article: Source

Posted on 22 January 2013 by VRS |  Email |Print

Korea Investment Corporation (KIC), South Korea’s sovereign wealth fund, saw its investment returns surpass benchmark last year as returns from stocks and bonds investment increased amid the persistent strategy to diversify portfolio from the long-term perspective, the sovereign fund said Monday.
KIC’s returns of investment from conventional assets such as stocks and bonds reached 11.83 percent in 2012, topping the benchmark yield of 11.17 percent, the sovereign wealth fund said in a statement. The figure was a rebound from a minus 3.32 percent yield tallied in the previous year, and it marked the highest in three years………………………………………..Full Article: Source

Posted on 22 January 2013 by VRS |  Email |Print

The New Zealand Superannuation Fund is considering buying more overseas farmland amid growing demand for food in emerging markets like China and Indonesia.The fund’s general manager of investments, Matt Whineray, has told Reuters news agency that the $21 billion fund is aiming to increase its allocation for crop, dairy and livestock farming operations from less than 1% to 3%.
The Fund is also also interested in assets that struggling European banks may sell to improve their capital base as well as catastrophe bonds issued by firms offering insurance against natural disasters in the United States, Japan and Europe………………………………………..Full Article: Source

Posted on 22 January 2013 by VRS |  Email |Print

The law establishing the Nigerian Sovereign Investment Authority (NSIA) was approved in May 2011. Nigeria’s progress towards joining the club of nations with a fully operational sovereign wealth fund (SWF) has been painfully slow, and the headline cause of the delay has been the resistance of the state governors. It has been said that Nigeria is the only member of OPEC without a fund in operation.
This can be challenged semantically but there are other high-profile nations outside the club. The UK springs to mind in this context. We can look at weaknesses in the British physical infrastructure and wonder what impact savings from North Sea oil taxes for a rainy day might have had……………………………………….Full Article: Source

Posted on 22 January 2013 by VRS |  Email |Print

The National Indigenisation and Economic Empowerment Fund has created a platform for equitable distribution of resources to all Zimbabweans, analysts have said. While the fund was established mainly to warehouse shares for future acquisitions by black Zimbabweans, its function has been expanded to achieve broad-based empowerment through the provision of some financing mechanisms to the economy.
The fund will, among other functions, be responsible for national projects such as financing infrastructure projects, budgetary support, provision of concessionary loans to industry and funding for the informal sector, as well as critical social programmes………………………………………..Full Article: Source

Posted on 22 January 2013 by VRS |  Email |Print

Russia will increase its rainy day Reserve Fund by a half, or 900 billion rubles ($29.3 billion), to reach a total of RUB2.8 trillion–slightly more than expected thanks to increased revenue from oil and gas, the finance ministry said on its website Monday.
The Fund should help even out any fiscal consequences of a potential drop in oil prices to $60-$70 per barrel–currently at almost $95 per barrel in Europe–said Julia Tsepliaeva, head of Market Economics Russia and CIS at BNP Paribas, in a research note………………………………………..Full Article: Source

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