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Sovereign Wealth Funds Briefing 19.Apr 2013

Posted on 19 April 2013 by VRS |  Email |Print

Wealth fund’s exposure is limited, board chief says, citing good performance of investment, and sees metal’s price rising over the long term. A senior official at China Investment Corp says the US$500 billion sovereign wealth fund has exposure to gold, although “not on a big scale”, and the fund is confident that gold prices will rise in the long run owing to limited global supply.
Jin Liqun, supervisory board chief at China Investment Corp, made the comment yesterday after gold prices tumbled earlier this week, reversing a 12-year winning streak……………………………………..Full Article: Source

Posted on 19 April 2013 by VRS |  Email |Print

As of the first quarter, around 51.32 percent of the total volume of the investment portfolio of the Azerbaijani State Oil Fund (SOFAZ) are in U.S. dollars ($17.53 billion), SOFAZ said. As of Jan.-March, the total amount of SOFAZ investment portfolio amounted to over $34.15 billion or 99.5 percent of total volume of assets.
Around 38.81 percent of the investment portfolio are concentrated in euro (over 10.33 billion euro), 4.82 percent — in British pounds sterling (about 1.08 billion pounds sterling), 1.37 percent — Turkish Lira, 0.62 percent — Australian Dollars, 0.29 percent — Russian Rubles, 0.5 percent — Azerbaijani Manat. The rest part of the portfolio (2.76 percent) is concentrated in gold……………………………………..Full Article: Source

Posted on 19 April 2013 by VRS |  Email |Print

Audit firm Ernst & Young Holdings (CIS) BV has made audit of consolidated financial statements of the State Oil Fund of Azerbaijan (SOFAZ) for 2012 on the consolidated balance sheet.
The audit report says that SOFAZ net operating income before taxation for 2012 amounted to AZN 790.345 million and after payment of profit tax AZN 787.137 million. Fund’s total assets for 2012 were confirmed at the level of AZN 26.89 bn, including foreign assets for AZN 26.01 bn and non-foreign exchange assets for AZN 877 million. SOFAZ total financial assets were confirmed at AZN 24.127 bn……………………………………..Full Article: Source

Posted on 19 April 2013 by VRS |  Email |Print

The head of Kuwait Investment Authority has denied reports suggesting that the country’s sovereign wealth fund may have played a role in driving up recent trading in the national stock market. Bader Mohammad al-Saad told Al Arabiya on Thursday that the Investment Authority has long-term strategic investment purposes and does not interfere in daily market trading.
The traded value in Kuwait’s bourse reached on Thursday 92 million dinars ($322.86), which is the highest value in more than two years. On Wednesday, the bourse rallied to breach the 7,000 points mark for the first time in 30 months……………………………………..Full Article: Source

Posted on 19 April 2013 by VRS |  Email |Print

The head of Denmark’s biggest pension fund warned that Europe is showing few signs of emerging from its crisis. “We all hope for a better Europe, but there is little reason for optimism at this point,”Carsten Stendevad, chief executive officer at ATP, which manages $140 billion in assets, said.
ATP said in December the fund is broadening its investment scope to benefit more from global growth as the euro area stays mired in a recession. The strategy emulates an approach adopted by Norway’s $725 billion sovereign wealth fund, which is relying less on European assets to generate returns……………………………………..Full Article: Source

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