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Sovereign Wealth Funds Briefing 17.May 2013

Posted on 17 May 2013 by VRS |  Email |Print

Real estate topped the list of sovereign wealth funds’ investments last year, overtaking commodities and financial services, according to Institutional Investor’s Sovereign Wealth Center.
Properties made up 26 percent of investments by these funds last year, up from 14 percent in 2011, according to the center’s report on investment trends by the funds released today. That’s followed by financial services and commodities, each accounting for 23 percent, down from about 30 percent a year earlier, it said………………………………………..Full Article: Source

Posted on 17 May 2013 by VRS |  Email |Print

Norway’s sovereign wealth fund, Government Pension Fund Global, is investing $4 billion (Dh14.7 billion) in India and is focused in the areas of oil and gas, shipping and hydropower, Norway’s envoy to India has said.
Norwegian Ambassador Eivind S. Homme said the Government Pension Fund has a capital of $720 billion and is into petroleum. “The Pension Fund is actually a petroleum fund. It is investing $4 billion in India. The officials were in India last week,” Homme told IANS on the sidelines of an event to celebrate Norway’s Constitution Day Wednesday evening at the embassy premises………………………………………..Full Article: Source

Posted on 17 May 2013 by VRS |  Email |Print

In 1990, the precursor of the Government Pension Fund – Global (GPFG), a sovereign wealth fund, was established for surplus oil revenues. Today the GPFG is worth more than $700-billion.
While there’s no question that Norway has done well from its oil and gas, unlike many resource-based nations, Norway has invested its petro dollars in such a way as to create and sustain other industries where it is also globally competitive………………………………………..Full Article: Source

Posted on 17 May 2013 by VRS |  Email |Print

Qatar Holding LLC, a unit of the Persian Gulf emirate’s sovereign-wealth fund, agreed to buy a 40 percent stake in Milan’s newly built Porta Nuova business district to expand its Italian real estate holdings.
Qatar Holding signed a strategic partnership with Hines Italia SGR, the project’s developer, and agreed to purchase the stake through a subscription of newly issued shares, the companies said in an e-mailed statement today. While the purchase price wasn’t disclosed, they said the project is valued at about 2 billion euros ($2.6 billion)………………………………………..Full Article: Source

Posted on 17 May 2013 by VRS |  Email |Print

One of the world’s biggest sovereign wealth funds, the Abu Dhabi Investment Authority announced the appointment of John McCarthy as global division head of infrastructure.
In a statement, ADIA said that McCarthy would be joining the sovereign wealth fund from Deutsche Bank where he was managing director for the bank’s infrastructure, a position he held since 2005. In his new role, he would be overseeing the fund’s existing portfolio as well as originate new transactions for the ADIA………………………………………..Full Article: Source

Posted on 17 May 2013 by VRS |  Email |Print

Nigeria’s Federation Accounts Allocation Committee (FAAC) on Wednesday night shared N721.51 billion among the three tiers of government for April while N89.74 billion was added into the Excess Crude Account. The April allocation decreased by N9.628 billion or 1.3 per cent against the N731.133 billion shared in March.
A breakdown of the distributions showed that N531.332 billion was shared from statutory sources, N54.571 billion and N92.436 billion were allocated to the governments from Value Added Tax (VAT) and the augmentation sources. The augmentation was due to shortfall in projected revenues for the month………………………………………..Full Article: Source

Posted on 17 May 2013 by VRS |  Email |Print

According to Revenue Watch’s Resource Governance Index, Trinidad and Tobago ranks 10th out of the 58 countries surveyed, scoring relatively high for publishing timely, regular reports on oil and gas production, prices and exports as well as sound Heritage and Stabilisation Fund governance.
The index report also credits Trinidad and Tobago for the quality and frequency of oversight and auditing of resource revenue, which is open to both parliamentary and public scrutiny. However, despite these strong points, the country has several areas for improvement including institutional reform to stem corruption, bolster the rule of law and improve budgetary transparency……………………………………….Full Article: Source

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