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Sovereign Wealth Funds Briefing 11.Apr 2013

Posted on 11 April 2013 by VRS |  Email |Print

Bank of PNG deputy governor Benny Popoitai is confident that the sovereign wealth fund (SWF) will be up and running before first LNG exports next year. “We hope to have the legislation amended to effect the changes so that we can establish the SWF and have it running before the LNG revenue hits our coffers,” he said.
“The SWF has its own challenges. We’re gone through several changes and different people have different views, but the intent is to stabilise the economy. How the money is spent is something else. The primary objective of the SWF is to give stability to the economy to prevent what we call the Dutch Disease, too much money chasing too few goods in the country, thereby increasing prices through the roof……………………………………..Full Article: Source

Posted on 11 April 2013 by VRS |  Email |Print

Back in 2008, the IMF said that “development funds” were part of the sovereign wealth fund community; they are vehicles that “typically help fund socio-economic projects or promote industrial policies that might raise a country’s potential output growth”.
At the time, I thought these development funds were (and would remain) a rather small sub-group compared to the other sub-groups that the IMF into its definition of SWFs (i.e., stabilization funds, savings funds, reserve investment corporations, and contingent pension reserve funds). Boy was I wrong……………………………………..Full Article: Source

Posted on 11 April 2013 by VRS |  Email |Print

Qatar Sports Investment, a branch of the emirate’s sovereign wealth fund, bought Paris St. Germain in 2011 and has invested hundreds of millions of dollars in the French club.
In a first for Barcelona, a commercial entity will become the Spanish club’s jersey sponsor as Qatar Airways will replace the Qatar Foundation in a three-year deal with an estimated value of $225 million……………………………………..Full Article: Source

Posted on 11 April 2013 by VRS |  Email |Print

A number of sovereign wealth funds (SWFs) have slowed GCC-wide investment, in favour of more domestic infrastructure projects. Although this strategy remains heavily dependent on the political status of each SWF’s home state, and is likely to reverse overtime, it has also been responsible for a slowing of cross-border GCC flows. Many independent and bank-owned fund managers who took part in the Barometer saw crossborder distribution in the GCC as key to their future development, albeit a trend that will develop slowly.
Barometer respondents said that a network of independent fund managers – many based in the UAE and Qatar – are best placed for the GCC and wider-MENA’s cross-border distribution opportunities……………………………………..Full Article: Source

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