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Sovereign Wealth Funds Briefing 07.May 2013

Posted on 07 May 2013 by VRS |  Email |Print

Azerbaijan’s state oil fund SOFAZ has agreed to invest around $500 million in a new share offering by VTB, Russia’s second-largest bank, the fund said in e-mailed comments to Reuters.
VTB says it has already received firm orders for all of the 2.5 trillion shares it is selling in Moscow at 4.1 kopecks apiece, raising 102.5 billion roubles ($3.3 billion) to bolster its capital. Jamala Aliyeva, head of public relations at SOFAZ, said the fund had been investing in Russian money market instruments, fixed-income securities and commercial real estate since 2012. The VTB investment marked a further step to strengthen its presence in Russia………………………………………..Full Article: Source

Posted on 07 May 2013 by VRS |  Email |Print

Billions of pounds of investments in major UK infrastructure projects are at risk because of a rift in relations with the Chinese government.
The Daily Telegraph understands that China’s sovereign wealth fund will not be able to invest in long-term British projects until a solution to the diplomatic stand-off, caused by David Cameron’s meeting with the Dalai Lama last year, has been reached………………………………………..Full Article: Source

Posted on 07 May 2013 by VRS |  Email |Print

Norwegian central bank Norges Bank, which manages the giant Government Pension Fund Global, has declared an equity stake of over 3% in German REIT alstria. The move supports calculations in Monday’s Financial Times that the world’s largest sovereign wealth fund has accelerated property acquisitions 10-fold.
Norges Bank Investment Management, which manages the Norwegian oil fund, declared last week that it broke upward through the 3% equity threshold in alstria, the Hamburg-based firm’s spokesman said………………………………………..Full Article: Source

Posted on 07 May 2013 by VRS |  Email |Print

Kuwait-based Asiya Investments has launched an Islamic trade finance fund with $20 million in seed capital, aiming to cater to small Asian manufacturers.
Asiya, whose largest shareholder is sovereign wealth fund Kuwait Investment Authority, aims to fill a gap left by Western banks that are scaling back their trade finance business, making credit scarce for small and medium-sized firms………………………………………..Full Article: Source

Posted on 07 May 2013 by VRS |  Email |Print

President Jose Eduardo dos Santos replaced his finance and construction ministers on Monday in the first cabinet re-shuffle since he led his MPLA party to victory in Angolan elections last August. Armando Manuel, who had served as secretary for economic affairs, replaces Carlos Alberto Lopes as finance minister of Africa’s No. 2 oil producer, the presidency said a statement without giving reasons for the re-shuffle.
Manuel is the chairman of the board of Angola’s sovereign wealth fund, which was launched in October with an initial endowment of $5 billion to invest in projects to diversify the oil-dependent economy. It is not known whether he will remain on the three-person board, which also includes one of Dos Santos’s sons………………………………………..Full Article: Source

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