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Sovereign Wealth Funds Briefing 02.May 2013

Posted on 02 May 2013 by VRS |  Email |Print

Norway’s sovereign wealth fund, one of the world’s largest investors, urged China to open its domestic markets to foreign investors, saying it was keen to pour billions of dollars into the world’s second-biggest economy.
The head of the fund, which invests Norway’s revenues from oil and gas production for future generations, said on Tuesday it had only around $1 billion invested in China out of total holdings of $735 billion………………………………………..Full Article: Source

Posted on 02 May 2013 by VRS |  Email |Print

Global bond returns are low and will be low for a long time, Yngve Slyngstad, the head of Norway’s $735 billion sovereign wealth fund said on Tuesday, making it more difficult for investors to earn high enough returns.
The fund, which invests Norway’s surplus oil revenue, has to keep between 35 and 40 percent of its assets in fixed income products and has shifted away from European assets towards Asia and emerging markets………………………………………..Full Article: Source

Posted on 02 May 2013 by VRS |  Email |Print

The Omani sovereign wealth fund is boosting investment in tourism, mining and fisheries and reducing the proportion of its assets overseas as part of plans to soothe social discontent after protests two years ago.
The fund is seeking to have 70 percent of its assets in Oman and 30 percent in other emerging markets, compared with a current balance of 50-50, Chief Executive Officer Hassan Al- Nabhani said yesterday in an interview in Dubai, declining to give the value of the fund. It’s also looking at opportunities in India’s manufacturing industries, he said………………………………………..Full Article: Source

Posted on 02 May 2013 by VRS |  Email |Print

Russia’s second largest bank VTB yesterday announced that a group of sovereign wealth funds has backed a $3.3bn (£2.13bn) fundraising that will take the government’s stake in the lender down from 75 per cent to 60 per cent or less.
In a surprise to investment bankers, VTB used Citi and its own investment banking department to advise on the deal rather than UBS, which had been expected to win the mandate. Andrea Orcel, head of the UBS investment bank, has previously enjoyed a close relationship with VTB and most bankers expected him to get a role………………………………………..Full Article: Source

Posted on 02 May 2013 by VRS |  Email |Print

The Qatar Investment Authority, a sovereign wealth fund, has big stakes in Agricultural Bank of China Ltd., Barclays Plc, Credit Suisse Group AG and Tiffany & Co. It owns London department store Harrods outright.
As Qatar’s government has spread its financial wings, the country’s biggest financial institution, Qatar National Bank, has been at its side. Under Ali Shareef Al Emadi, its chief executive officer since 2005, QNB has become the largest lender in the Middle East and one of the most profitable. Even as the bank has expanded, Al Emadi has maintained QNB’S capital base and aversion to risk………………………………………..Full Article: Source

Posted on 02 May 2013 by VRS |  Email |Print

Sovereign wealth fund Government of Singapore Investment Corp. Tuesday said that it has raised US$250 million through sale of convertible bonds of Glencore International AG. The 5% guaranteed convertible bonds 2014 issued by Glencore Finance (Europe) S.A. were guaranteed by Glencore International and Glencore AG, GIC said in a statement.
GIC intends to use part of the net proceeds from the sale of the bonds to acquire ordinary shares of Glencore International………………………………………..Full Article: Source

Posted on 02 May 2013 by VRS |  Email |Print

The SNB looks to have sold core euro assets in Q1 and used these funds to increase equity exposure in other countries and in the Nikkei. The other countries are said to comprise of Australia, Sweden, Denmark, Singapore and South Korea.
The big story for SNB Q2 reserves is the Fitch downgrade of the UK meaning a large decline in triple A rated fixed income assets. No doubt the SNB were getting twitchy around the Cyprus debacle when the currency was approaching 1.2100. There’s always talk that they are in the market propping up large falls but obviously these are less frequent the further we get from the peg………………………………………..Full Article: Source

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