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Sovereign Wealth Funds Briefing 29.Apr 2013

Posted on 29 April 2013 by VRS |  Email |Print

VTB Group (VTBR), Russia’s second-largest lender, received enough orders from investors including sovereign wealth funds in Norway and Azerbaijan to cover a $3.3 billion share sale, said a person with knowledge of the matter.
VTB got a firm commitment to buy new shares from Norges Bank Investment Management, the world’s largest sovereign fund, as well as from Azerbaijan’s State Oil Fund and other investors, said the person, who declined to be identified as the information is private. Qatar’s wealth fund has also bought shares, Prime newswire service reported late yesterday, citing an unidentified person close to the Russian state bank’s supervisory board………………………………………..Full Article: Source

Posted on 29 April 2013 by VRS |  Email |Print

Norway’s $728 billion Government Pension Fund Global, the largest sovereign wealth fund in the world, grew by 219 billion kroner ($37 billion) during the first quarter of 2013, due to unprecedented stimulus from central banks trying to boost economic growth.
The fund, which generates money from taxes on oil and gas, ownership of petroleum fields, and the government’s 67% stake in Statoil ASA, experienced returns of 5.4 percent over the first three months of the year, with stocks returning 8.3 percent, and bond investments climbing 1.1 percent………………………………………..Full Article: Source

Posted on 29 April 2013 by VRS |  Email |Print

Norway’s sovereign wealth fund, the world’s largest, gained 219 billion kroner ($37 billion) in the first quarter as stocks surged amid unprecedented stimulus from central banks to boost economic growth.
The $728 billion Government Pension Fund Global returned 5.4 percent in the first three months of the year, the Oslo- based investor said today. Stocks returned 8.3 percent, while bond investments climbed 1.1 percent. Real estate investments lost 0.3 percent………………………………………..Full Article: Source

Posted on 29 April 2013 by VRS |  Email |Print

The sovereign wealth fund of Norway, amongst the world’s biggest investors, has said that it wants to participate more actively in the management of firms it has heavy investments in, such as Volvo and other firms.
The fund has under its management totalling US$728 billion and said it is aiming to become active participants of company activities such as election of board members.According to the fund’s CEO Yngve Slyngstad, “It means having an ownership in the order of 5 percent and that we find ourselves among the top five investors. Our ownership should be significant, in the order of $1 billion,”……………………………………….Full Article: Source

Posted on 29 April 2013 by VRS |  Email |Print

Norway has revealed plans to sell all shares owned by its sovereign wealth fund - Norwegian Pension Fund Global - in oil firms with operations in Equatorial Guinea.
“We are looking into the oil companies in which we hold shares and which are active in Equatorial Guinea,” Reuters quoted Ola Mestad, the head of the fund’s ethics council, as saying.Norway’s sovereign wealth fund attributed its resolve to the fact that oil money from these companies failed to tackle abject poverty in the country.The fund’s ethics council’s annual report states that the production of the country’s dominant natural resource seems to enrich only the country’s elite, leaving the conditions of the entire population in worst state in the world………………………………………..Full Article: Source

Posted on 29 April 2013 by VRS |  Email |Print

Azerbaijan’s sovereign wealth fund is planning to invest around $1bn in international real estate in 2013, as it aims to diversify its portfolio, a senior official stated on April 25. The State Oil Fund of the Azerbaijan Republic (Sofaz), which started investing into foreign real estate in December, is looking mainly to invest in Asian and Australian real estate, Executive Director Shakhmar Movsumov told Reuters.
The $34bn fund, which accumulates revenue from Azeri oil and gas exports, put around $600m into real estate in 2012. Sofaz made its first international real estate investment with the GBP177.35m purchase of an office complex in St James Street, London. This was followed by investments in Paris and Moscow………………………………………..Full Article: Source

Posted on 29 April 2013 by VRS |  Email |Print

China Investment Corp., the world’s fifth-largest sovereign wealth fund, is treated differently than other investors by U.S. regulators, the company’s president said in Washington.
CIC faces challenges in the U.S. and is “singled out as a different investor,” CIC President Gao Xiqing said yesterday at a conference after meetings with officials in the U.S. capital.“We thought we were friends,” Gao said. “All of the sudden, you’ve got people slapping you in the face and telling you, OK, we don’t like you.”……………………………………….Full Article: Source

Posted on 29 April 2013 by VRS |  Email |Print

Hassad Food Co, the agricultural investment arm of Qatar’s sovereign wealth fund, said on Sunday it has appointed a new CEO. Fahad Abdulla Turki Al-Subaiey will be based in the company’s headquarters in Doha and will report directly to Nasser Al Hajri, the chairman of the Hassad Food Company.
Al-Subaiey has now the overall global responsibility for the company’s growth strategy, investment plans and operations, a statement said………………………………………..Full Article: Source

Posted on 29 April 2013 by VRS |  Email |Print

The Kuwait Investment Authority (KIA), the sovereign wealth fund, has long been known both for its integrity and cautious approach to investment. But several recent initiatives point to the growing difficulty of being conservative in a world of virtually zero interest rates and modest yields — and a world in which inflation is low today but may be much higher tomorrow.
The KIA recently joined forces with real estate developer Steve Ross’s Related Companies and with Oxford Properties, to provide equity in the first stage of the $15 billion Hudson Yards project in Manhattan………………………………………..Full Article: Source

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