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Sovereign Wealth Funds Briefing 06.Feb 2013

Posted on 06 February 2013 by VRS |  Email |Print

Nigeria plans to increase its sovereign wealth fund fivefold to $5 billion within three years, Minister of State for Finance Yerima Ngama said.
Differences between Nigeria’s federal government and state governors, which have delayed additional transfers to the fund, may be resolved soon by expanding the representation of the states on the board of the sovereign wealth authority, Ngama said today in an interview in London. “Once we look at the board and say, ok, state governors, bring your own representatives on the board, I think it will solve it.”……………………………………….Full Article: Source

Posted on 06 February 2013 by VRS |  Email |Print

Wells Fargo & Co. (WFC), the U.S. bank that counts billionaire Warren Buffett’s company as its largest shareholder, is targeting Persian Gulf sovereign-wealth funds as it seeks to expand its client base in the Middle East.
“We are keeping our focus on banks and investment banks, and also plan to target sovereign-wealth funds in the U.A.E. and Qatar,” Shoar Hassan, the bank’s senior executive officer and regional manager for Middle East and North Africa, said yesterday in an interview in Dubai. “We’re looking at what’s worked well for us in the U.S. and are bringing it to the Middle East. We want to deepen our wallet with our clients.”……………………………………….Full Article: Source

Posted on 06 February 2013 by VRS |  Email |Print

China continues to award increasingly chunky QFII quotas ever more swiftly. Last month two sovereign wealth funds hit $1 billion and eight asset managers received their first allocations.
The State Administration of Foreign Exchange (Safe) granted Abu Dhabi Investment Authority $500 million and Kuwait Investment Authority $700 million in additional quota. That takes them to $1 billion each, which was the limit for an individual institution until December, when Safe said it would raise the threshold for sovereign wealth funds, central banks and monetary authorities………………………………………..Full Article: Source

Posted on 06 February 2013 by VRS |  Email |Print

A unit of Singapore state investment company Temasek Holdings plans to buy 26.1% of Indonesian retailer PT Matahari Putra Prima, highlighting Indonesia’s growing attractiveness to institutional investors due to its increasingly affluent middle class.
The unit, Anderson Investments, will offer up to 2.9 trillion rupiah ($300 million) to buy public shares in Matahari Putra, majority stakeholder PT Multipolar said in a statement Tuesday. Multipolar added that it will maintain its 50.2% stake in the retailer. A Temasek spokesman confirmed the investment plan………………………………………..Full Article: Source

Posted on 06 February 2013 by VRS |  Email |Print

Diversified holding company PT Multipolar (MLPL) says it will sell a 26.1 percent stake of subsidiary PT Matahari Putra Prima (MPPA) to Singapore investment company Temasek Holdings Ltd.
Eddy Handoko, Multipolar’s president director, said that the company and Temasek subsidiary Anderson Investments Pte. Ltd. signed an exchangeable rights subscription agreement in January, allowing Anderson to buy the stake in Matahari Putra Prima, which was reportedly worth US$300 million………………………………………..Full Article: Source

Posted on 06 February 2013 by VRS |  Email |Print

Matahari Putra Prima, a retailer and the operator of Hypermart, jumped to its highest closing price in almost two years after Singapore’s Temasek Holdings announced plans to acquire a stake in the retailer.
Shares in Matahari jumped 14 percent to Rp 1,740 on Tuesday, extending its 24 percent rally the previous day. It was Matahari’s highest closing price since March 7, 2011, when it ended at Rp 1,760. On Tuesday, the benchmark Jakarta Composite Index fell 0.3 percent………………………………………..Full Article: Source

Posted on 06 February 2013 by VRS |  Email |Print

Australia’s state pension fund is seeking to build up its Australian infrastructure and U.S. and European property investments as it struggles to meet its mandated targets. The Future Fund said bank deleveraging after the global financial crisis meant there were still good opportunities for property investment, particularly in the stressed European and U.S. markets.
The A$82.4 billion fund increased its exposure to property, infrastructure projects and timberland over the 12 months to Dec. 31. At the end of the year, the proportion of the fund invested in property was 6.6 percent, or A$5.4 billion, from 6 percent. Australia and the U.S. account for more than A$2 billion each of that investment………………………………………..Full Article: Source

Posted on 06 February 2013 by VRS |  Email |Print

The Future Fund will soon decide whether it will keep investing in the tobacco industry, the managing director revealed at a portfolio update on Tuesday morning. The regular quarterly update showed the fund’s investments returned 12.8 per cent in 2012, increasing the portfolio from $73 billion to $82.4 billion.
This was one of the fund’s best performances and a significant improvement after returning just 2.1 per cent in the twelve months to June 2012. It also boosted the average annual return since inception in May 2006 to 5.4 per cent………………………………………..Full Article: Source

Posted on 06 February 2013 by VRS |  Email |Print

The State Capital Investment Corporation (SCIC) has reported an impressive business result for 2012. However, experts still can see big problems of the state’s super-power. In Vietnam, SCIC is a powerful corporation which specializes in making investment with the state’s money. It injects money in the potential businesses for profit or carries out the investment deals as instructed by the State. Therefore, SCIC is believed to have a so called “super power.”
The powerful corporate has reported a “bountiful crop” 2012 with sky high profits from the investment deals. However, economists have pointed out that most of the profits came from one investment deal in Vinamilk, the dairy producer which now holds the biggest dairy market share in Vietnam………………………………………..Full Article: Source

Posted on 06 February 2013 by VRS |  Email |Print

A question has been raised on how the SCIC’s fate would be if one day, it has to abandon Vinamilk shares? Though SCIC has reported a brilliant success in business results in 2012, economists still can see high risks the super corporation is facing.
By December 31, 2012, SCIC had invested capital in 400 enterprises with the book value of VND14 trillion and the market value of VND50 trillion………………………………………..Full Article: Source

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