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Sovereign Wealth Funds Briefing 11.Feb 2013

Posted on 11 February 2013 by VRS |  Email |Print

Samruk-Kazyna Kazakh Sovereign Wealth Fund has implemented investment projects worth $101 billion, Samruk-Kazyna Chairman of Board Umirzak Shukeyev said at an enlarged fund meeting chaired by Kazakh Prime Minister Serik Akhmetov.
“The fund will be actively involved in the implementation of the industrial program in 2013,” he said. “Generally, the common investment program of the fund has 157 projects worth $101 billion. Around 74 investment projects under the program worth $54 billion are being implemented. Four large projects will be introduced creating 5,000 jobs within the Industrialization Map in 2013.”……………………………………….Full Article: Source

Posted on 11 February 2013 by VRS |  Email |Print

The National Investment Corporation of the National Bank of Kazakhstan, a sovereign wealth fund (SWF) managed by the central bank, is seeking a fund-of-hedge-funds manager and a private equity fund-of-funds manager to run parts of its newly launched investment portfolio.
The Investment Corporation, launched last summer with the aim of becoming a major global player, published tenders for the two roles on its website today, specifying that each manager would be responsible for assets worth between $50 million and $150 million………………………………………..Full Article: Source

Posted on 11 February 2013 by VRS |  Email |Print

Kazakhstan’s sovereign wealth fund, Samruk-Kazyna, acquired a 29-per cent stake in Glencore-controlled zinc producer Kazzinc. Without disclosing the financial terms of the acquisition, Samruk-Kazyna’s deputy head, Kuandyk Bishimbayev, told reporters, “The Kazzinc deal is closed, and today we own 29 per cent in this enterprise.”
Bishimbayev said that Samruk-Kazyna bought the stake from Kazakhstan billionaire Bulat Utemuratov controlled investment firm Verny Capital………………………………………..Full Article: Source

Posted on 11 February 2013 by VRS |  Email |Print

Kazakhstan’s sovereign wealth fund, Samruk-Kazyna JSC, acquired a 30% stake in Kazzinc, the Kazakhstan integrated zinc, copper and lead producer, from Verny Capital JSC, a person familiar with the matter said Thursday.
Commodities company Glencore International PLC (Glencore International Plc) owns a 69.61% stake in Kazzinc, while the remainder is owned by Verny and a small number of shareholders………………………………………..Full Article: Source

Posted on 11 February 2013 by VRS |  Email |Print

The funds allocated from the National Fund for anti-crisis measures are being returned and reinvested in Kazakhstan economy, Tengrinews.kz reports citing chairman of Samruk-Kazyna National Welfare Fund Umirzak Shukeyev.
“The fund is monitoring the money of the National Fund injected during the anti-crisis program. In 2008-2009 the National Fund allocated the total of 1.09 trillion tenge ($7.25 billion) for anti-crisis measures, including 487.5 billion tenge ($3.25 billion) for stabilization of the financial sector, 120 billion tenge ($800 million) for implementation of innovative-industrial infrastructure projects, 480 billion tenge ($3.2 billion) for support of small and medium business and 170 billion tenge ($1.1 billion) for refinancing of mortgage loans and support to equity share construction………………………………………..Full Article: Source

Posted on 11 February 2013 by VRS |  Email |Print

Angola’s constitutional court on Friday rejected a claim by an opposition party that President Jose Eduardo dos Santos had overstepped his powers to create the country’s $5 billion sovereign wealth fund.
Angola launched the fund last October to invest in domestic and overseas assets by funnelling the country’s vast oil wealth into infrastructure, hotels and other high-growth projects………………………………………..Full Article: Source

Posted on 11 February 2013 by VRS |  Email |Print

Greece will seek the cooperation with Qatar’s Investment Authority Fund, the country΄s sovereign wealth fund, controlling funds of around $1.3 trillion. However New Economy Development Fund’s (TANEO) vice President and CEO of the fund, Nick Haritakis, didn’t provide further details about the subject of the cooperation.
He stated that the effort to set up a €100 million fund to support for the subsidiaries of Greek companies with EBRD is expected to have been established until June 2013………………………………………..Full Article: Source

Posted on 11 February 2013 by VRS |  Email |Print

Sovereign wealth fund GIC of Singapore has cornered shares worth Rs 1,000 crore in NTPC divestment in which foreign funds bought almost 45 per cent of shares put on sale. Sovereign wealth fund GIC of Singapore has cornered shares worth Rs 1,000 crore in NTPC divestment in which foreign funds bought almost 45 per cent of shares put on sale.
“Foreign institutional investors have been allocated 44.92 per cent of shares, while banks and insurance companies got allotment of 11.05 per cent and 24.87 per cent, respectively,” an official source said………………………………………..Full Article: Source

Posted on 11 February 2013 by VRS |  Email |Print

Sovereign wealth funds see the risk-reward in European real estate as attractive, and could hit global property allocations as high as 20% of portfolios, says Pierre Vaquier, CEO of AXA Real Estate, the largest European property investment manager, which counts several such funds in its client list including the world’s biggest, the Norwegian Pension Fund.
Vaquier told PIE on the sidelines of the ULI Europe conference in Paris last week that SWFs have a global view, allocating between Asia, US and Europe. “They consider that the risk-reward basis in Europe is attractive… And depending on their experience, culture and sophistication they are looking for either core deals or risk types of situations.”……………………………………….Full Article: Source

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