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Sovereign Wealth Funds Briefing 08.Mar 2013

Posted on 08 March 2013 by VRS |  Email |Print

The finance ministry has scrapped a proposal to set up a sovereign wealth fund (SWF) because there was “no need for it”, at least for now. The ministry said the domestic markets have enough depth for the government to borrow funds to finance the fiscal deficit, and companies can tap external markets for borrowings.
“At the moment, we are not planning an SWF. We don’t think there is a need for it,” Economic Affairs Secretary Arvind Mayaram told Business Standard. There was never a plan to set up an SWF, he said. “There were discussions. Plan means we decided and shelved it.”……………………………………….Full Article: Source

Posted on 08 March 2013 by VRS |  Email |Print

Sovereign wealth fund GIC of Singapore has cornered shares worth Rs 1,000 crore in the NTPC divestment, in which foreign funds bought almost 45 per cent of the shares put on sale. “Foreign institutional investors have been allocated 44.92 per cent of shares, while banks and insurance companies got an allotment of 11.05 per cent and 24.87 per cent respectively,” an official source said.
The cut-off price for the share sale has been fixed at Rs 145.55 apiece and the final realisation of the Government from NTPC disinvestment stands at Rs 11,496.39 crore………………………………………..Full Article: Source

Posted on 08 March 2013 by VRS |  Email |Print

Mapletree Greater China Commercial Trust rose as much as 10.2 percent in its debut Thursday, underscoring demand from yield-hungry investors after the Temasek-backed trust raised $1.3 billion in Singapore’s biggest real estate investment trust (REIT) offering.
The trust, which is backed by Singapore state investor Temasek Holdings Pvt Ltd, rose to S$1.025 ($0.82) in early trading, compared with a 0.1 percent decline in the benchmark Straits Times Index. The REIT consists of office and retail developments in the Chinese mainland and in Festival Walk, an up-market shopping center in Hong Kong’s Kowloon district………………………………………..Full Article: Source

Posted on 08 March 2013 by VRS |  Email |Print

China will likely appoint savvy international dealmakers to run its giant sovereign wealth fund and Commerce Ministry in a soft power push to soothe fears over a planned spending spree to boost Beijing’s ownership of strategic global assets.
Securities regulator Guo Shuqing is tipped to take the helm at the $482 billion state investment vehicle, China Investment Corp (CIC) , and China’s chief trade representative, Gao Hucheng, is seen running the Commerce Ministry, two sources with leadership ties told Reuters……………………………………….Full Article: Source

Posted on 08 March 2013 by VRS |  Email |Print

People may be surprised to learn that the State Capital Investment Corporation (SCIC) puts most of its trillions of dong in capital into bank deposits for interest, rather than any kind of actual investment.
The SCIC was incorporated in 2005 under a bid to enhance the efficiency of state capital utilization during the height of the ongoing economic and SOE reforms. SCIC’s primary objectives are to represent state capital interests in enterprises and invest in key sectors and essential industries in order to strengthen the dominant role of the state sector………………………………………..Full Article: Source

Posted on 08 March 2013 by VRS |  Email |Print

Aabar Investments PJSC, the Abu Dhabi-based sovereign fund, could be making a significant investment in Malaysia’s Tun Razak Exchange (TRX), the ambitious multi-billion-ringgit property development project by 1Malaysia Development Bhd (1MDB).
Aabar, better known in Malaysia as the fund that bought the 25% stake in RHB Capital Bhd from its sister company Abu Dhabi Commercial Bank in 2011, is known internationally for its holdings in such high-profile names as German carmaker Daimler, commodities trader Glencore and Italy’s UniCredit. If Aabar’s investment in TRX comes to fruition, then it would be a significant new foreign direct investment deal for Malaysia………………………………………..Full Article: Source

Posted on 08 March 2013 by VRS |  Email |Print

The Qatar Investment Authority now owns more than 10 percent of Tiffany & Co., according to a recent filing with the Securities and Exchange Commission.
The Authority owns 11.27 percent of the iconic retailer, or 14.3 million shares, according to a March 6 filing. This solidifies the position of the Authority, owned by the government of Qatar, as the retailer’s largest shareholder. In prior instances, the Authority owned 8.7 percent and 5.195 percent of the company………………………………………..Full Article: Source

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