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Sovereign Wealth Funds Briefing 02.Apr 2013

Posted on 02 April 2013 by VRS |  Email |Print

Azerbaijan’s state oil fund, SOFAZ, is going to allocate $150 million for participation in the Global Infrastructure Fund, created by the International Finance Corporation, together with other sovereign and pension funds, according to a statement released by SOFAZ on Monday.
‘The share of SOFAZ in the Global Infrastructure Fund will be increased to $200 million, while its total budget is $500 million,’ the statement says. SOFAZ already invested $100 million to the IFC African, Latin American and Caribbean Fund in 2010 and $50 million to IFC Catalyst Fund in 2012………………………………………..Full Article: Source

Posted on 02 April 2013 by VRS |  Email |Print

As Alaskans applied for their share of the bonanza, the Alaska Permanent Fund reached a new high of $45.5 billion, thanks to records being set in the U.S. stock market, particularly the Standard & Poor’s 500 Index and the Dow Jones Industrial Average.
In the four years since Wall Street bottomed out, the Permanent Fund has shot up in value about 60 percent. But Alaskans shouldn’t get their hopes for a bonanza too high. The Alaska Permanent Fund Corp. (APFC), which manages the fund’s investments, is projecting the annual dividend to qualifying state residents will be less than $800 this year………………………………………..Full Article: Source

Posted on 02 April 2013 by VRS |  Email |Print

Australia’s Future Fund has extinguished its tobacco industry stakes. Announced in February, the move had been widely anticipated since David Gonski, chairman of the A$82.4 billion ($85.5 billion) sovereign wealth fund’s board of guardians, said last October that the board would review these holdings.
The $222 million divestment may carry extra symbolic weight given that Australia recently became the first country to enforce strict plain-packaging laws for cigarettes and other tobacco products. Although the Future Fund held 14 individual positions in tobacco producers, including Altria, Imperial Tobacco, Japan Tobacco and Lorillard, they added up to just 0.3 percent of its assets………………………………………..Full Article: Source

Posted on 02 April 2013 by VRS |  Email |Print

Karuturi Global Ltd. (KARG), the world’s largest rose grower, said it will borrow more than $100 million from a sovereign wealth fund to invest in farming in East Africa after selling its first produce from a plantation in Ethiopia.
The company, based in Bangalore, India, produced 21,000 metric tons of corn in the last quarter of 2012 that sold for about $6.5 million in Ethiopia, Managing Director Sai Ramakrishna Karuturi said in a phone interview on March 27. The harvest, grown on its plantation in western Ethiopia, showed the project was “not a disaster” after floods destroyed a 60,000- ton corn crop in September 2011, he said………………………………………..Full Article: Source

Posted on 02 April 2013 by VRS |  Email |Print

The gas and oil wealth of Qatar has been used to snap up another UK asset after the emirate bought the InterContinental London Park Lane hotel in a £400m deal. Constellation Hotels, part of the Qatar Holding investment vehicle that has invested in Sainsbury’s and Barclays, has paid £301.5m for InterContinental Hotel Group’s 57-year lease on the 447-bedroom property close to Hyde Park, the company announced on Thursday.
In a separate £100m deal it also acquired the freehold from the Crown Estate, the property company that controls the assets of the Queen………………………………………..Full Article: Source

Posted on 02 April 2013 by VRS |  Email |Print

Oman Investment Fund (OIF) a sovereign wealth fund of the Sultanate of Oman, has today announced the appointment of, among other new members, two insurance industry experts to the board of Oman National Investment Corporation Holding SAOG. OIF acquired a 41.13% holding, in ONIC Holding in February 2013.
Andrea Moneta and Lakhdar Moussi join the ONIC Holding Board following their election at ONIC Holding ’s AGM held on 30th March in Muscat. Mr Moneta and Mr Moussi bring decades of international insurance sector experience and expertise to ONIC having worked for and advised some of the most prominent names in the industry. (Press Release)

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