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Sovereign Wealth Funds Briefing 28.Jan 2013

Posted on 28 January 2013 by VRS |  Email |Print

Kuwait Investment Authority (KIA), the Gulf state’s sovereign wealth fund, plans to invest in European and US infrastructure projects, its managing director said. The fund, which has an estimated US$261bn of assets under management, is interested in investing in Texas Pacific Group and CBC, Badr Al Saad told Al Arabiya at the World Economic Forum in Davos.
“We think that these countries need to develop their infrastructure. We think that investments in infrastructure will be big in the next five years,” said Al Saad………………………………………..Full Article: Source

Posted on 28 January 2013 by VRS |  Email |Print

The African Union (AU) has appealed to its member states with sovereign wealth funds in the Euro zone and the US to repatriate the funds to finance multi-billion-dollar investment plans aimed at fast-tracking trade and economic growth on the continent.
AU Commission Deputy Chairperson Erastus Mwencha said while current peacekeeping, infrastructure and education expansion programmes were financed by foreign aid, the AU was seeking more innovative ways to enable the African private sector to take ownership of most of the projects………………………………………..Full Article: Source

Posted on 28 January 2013 by VRS |  Email |Print

Chinese companies should pursue broader opportunities in economies enjoying increasing consumer demand rather than concentrating on commodities and high technology, local media Monday cited the head of China’s sovereign wealth fund as saying.
Demand is increasing in Europe, Asia and Africa, and Chinese companies should “seize this opportunity” to expand overseas, the state-run China Securities Journal cited China Investment Corp. Chairman Lou Jiwei as saying at a forum over the weekend. Chinese companies should be allowed more freedom to invest overseas, as global economic adjustment after the financial crisis is creating opportunities, Mr. Lou said………………………………………..Full Article: Source

Posted on 28 January 2013 by VRS |  Email |Print

China’s economy will grow at more than 8 percent this year, underpinning the global economy that is bound for a “mild, tortuous and slow” recovery in 2013, predicted Lou Jiwei, head of China’s sovereign wealth fund, on Saturday.
Demand has become a most-sought-after resource around the globe, and China’s economic growth makes up the lion’s share of global demand, as market demand in debt-laden Europe is lackluster and even shrinking, Lou, chairman of the China Investment Corp (CIC), said at an economic forum in Beijing………………………………………..Full Article: Source

Posted on 28 January 2013 by VRS |  Email |Print

A wash with cash and with the peso exhibiting a worrisome strength vis-à-vis the dollar on the back of a steady stream of remittances, the government economic team is eyeing the creation of a sovereign wealth fund (SWF) that could be marshaled to take care of big-ticket items, like funding infrastructure projects.
There are snippets of information that reveal that while the Bangko Sentral ng Pilipinas (BSP) could be tapped to provide the initial funding of about $20 billion from out of its gross international reserves (GIR) of $84 billion, the primary problem bugging the economic team is what agency would be tasked to take charge of the SWF………………………………………..Full Article: Source

Posted on 28 January 2013 by VRS |  Email |Print

The government of the Falkland Islands has made a transfer of over 8 million pounds (£ 8.274 million) to the new Oil Development Reserve, a first step towards a ‘Sovereign Wealth Fund’ based on the Norwegian model it was explained at this week’s meeting of the Standing Finance Committee.
The Falkland Islands Government (FIG) was showing a surplus of £3.910 million compared to a revised budget surplus of £3.515 million, a favourable performance of £0.395 million in first six months of the 2012/13 financial year. This appeared less than anticipated, explained the FIG Management Accountant, due to the transfer of oil related taxation receipts to the Reserve………………………………………..Full Article: Source

Posted on 28 January 2013 by VRS |  Email |Print

Sovereign wealth funds are considering investments in southern Europe despite deep and prolonged recessions and the Eurozone crisis now into its third year, the ICSC-Thomson Reuters Global Retail Real Estate Forum heard last week.
The prospect of high yields from prime retail is attracting cash-rich investors, but deals are difficult as sellers are unwilling and risks of further falls remain. Sovereign wealth funds, that derive their wealth from national oil reserves and currency stockpiles, have more than $4tr assets under management said Bruce Nutman, partner and head of retail investment at British realtor Knight Frank. Funds……………………………………….Full Article: Source

Posted on 28 January 2013 by VRS |  Email |Print

Oil and gas made Norway one of the world’s most advanced and prosperous countries in just a few decades. Now the deadly siege in Algeria has fired up a debate here over how far its petroleum companies, and their skilled workers, should go in the hunt for resources and profits.
While many European countries are struggling under growing debt burdens, Norway, thanks to its petroleum reserves, has a sovereign wealth fund with an estimated $700 billion to protect its future………………………………………..Full Article: Source

Posted on 28 January 2013 by VRS |  Email |Print

The decline of the yen could spark a currency war in southeast Asia, Badr al-Saad, the head of Kuwait’s sovereign wealth fund, said. The Chinese economy will grow between 7.7 per cent to 8 per cent over the next two years, far better than developed economies, al-Saad, the managing director of Kuwait Investment Authority (KIA), told pan-Arab network al-Arabiya at the World Economic Forum in Davos, Switzerland.
“The only fear is the decline of the yen. The decline of the yen could trigger a currency war in the countries of southeast Asia, this is the only fear we have at the moment,” he said………………………………………..Full Article: Source

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