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Sovereign Wealth Funds Briefing 16.Apr 2013

Posted on 16 April 2013 by VRS |  Email |Print

Qatar’s aggressive sovereign wealth fund is focusing its investment strategy in Germany on companies selling in emerging markets as well as real estate, an executive board member of the Qatar Investment Authority said on Monday.
The QIA, the most active Middle East sovereign wealth fund in recent years, is estimated to be worth around $200 billion and has bought stakes in companies ranging from German sports car maker Porsche to Barclays………………………………………..Full Article: Source

Posted on 16 April 2013 by VRS |  Email |Print

Azerbaijan’s State Oil Fund, known as Sofaz, expanded its assets 0.6 percent to $34.3 billion as of April 1 from the end of last year. Sofaz’s gold holdings have increased to 18.4 metric tons by the end of the first quarter, according to an e-mailed statement today from the fund, which was established in 1999 in Baku, the Azeri capital, to manage the Caspian Sea nation’s income from the sale of oil and natural gas.
The fund started investing in gold, as well as in the Australian dollar, Russian ruble, Turkish lira and real estate last year to diversify holdings. It plans to increase its gold reserves to 30 tons by the end of the year………………………………………..Full Article: Source

Posted on 16 April 2013 by VRS |  Email |Print

Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-March, 2013 reached 3 523.4 million manats, while budget expenditures constituted 2 929.6 million manats.
Revenue of 3 413.0 mln. manats was received from implementation of oil and gas agreements, including 3 410.7 mln. manats from the sale of profit oil and gas, 2.1 mln. manats as transit payments, 0.2 mln. manats as bonus payments and 0.01 mln. manats from sale of assets received from foreign companies………………………………………..Full Article: Source

Posted on 16 April 2013 by VRS |  Email |Print

Canada-based Sun Life Financial and Khazanah Nasional in Kuala Lumpur have completed the acquisition of CIMB Aviva Assurance and CIMB Aviva Takaful after receiving regulatory approvals in Malaysia and Canada.
CIMB Aviva Assurance is a Malaysian life insurance firm, whereas CIMB Aviva Takaful is a Malaysian takaful company. Both Canadian and Malaysian companies have acquired 49% stake of the both companies from Aviva International and CIMB Group, respectively, with CIMB Group holding a 2% share in the companies………………………………………..Full Article: Source

Posted on 16 April 2013 by VRS |  Email |Print

So our old friends from Malaysia’s 1MDB are back again, or should I say were back again, since the US$3bn 10-year private placement arranged for the government investment vehicle by Goldman Sachs was closed in conspicuous silence some weeks ago – on March 29 to be precise.
The under-the-radar modus operandi mirrored that seen on the US$1.75bn 10-year private placement Goldman closed for 1MDB last June. As with that deal, the new transaction is likely spark controversy, not just because of the quiet manner in which it was completed but because it comes barely three weeks before Malaysia’s general election on May 5………………………………………..Full Article: Source

Posted on 16 April 2013 by VRS |  Email |Print

DBS Group Holdings Ltd’s bid to buy Indonesia’s PT Bank Danamon from Singapore state investor Temasek Holdings Pte Ltd may go ahead next month, Indonesia’s central bank chief said on Monday.
The US$7.2 billion deal has been stuck for a year because of regulatory obstacles with Bank Indonesia capping ownership stakes in local banks and politicians calling for the Monetary Authority of Singapore (MAS) to grant greater access for Indonesian banks in Singapore………………………………………..Full Article: Source

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